- US prices weaken amid slowdown in bookings
- Brazilian prices stable on firm domestic demand
Global ferrous scrap export markets remained mixed during the week ended 12 June 2026. US prices softened further amid weak Turkish demand and limited export activity, while Brazil continued to benefit from stronger steelmaker buying. Mexico remained largely stable, supported by steady mill procurement despite sluggish finished steel demand.
US: Export prices decline amid weak Turkish demand
The US ferrous scrap export market remained subdued, with limited transaction activity and growing expectations of lower prices in upcoming deals. Turkish buyers remained largely absent following the purchase of a US-origin cargo in the first week of June, which included HMS 80:20 at $406/t CFR and shredded scrap at $426/t CFR.
Export prices weakened further, with HMS 80:20 assessed at $360/t FOB US East Coast, down $4/t w-o-w, while shredded scrap declined by the same amount to $380/t FOB. Market participants reported only one export cargo concluded so far in June, compared with four in May and five in April, highlighting slower overseas demand.
The slowdown in bookings has started to affect domestic collection markets, with East Coast dock buying prices declining as exporters adjusted procurement levels. Meanwhile, Taiwan import prices also softened amid weak finished steel demand and seasonal power-related production disruptions.
Brazil: Stronger steelmaker demand supports sentiment
Brazil’s ferrous scrap market remained firm during the week as stronger buying activity from domestic steelmakers supported prices and market sentiment. Sources pointed to increased demand for clean steel scrap and oxycut material, while foundry scrap prices continued to face upward pressure.
Stronger steelmaker buying and rising merchant pig iron prices continued to support Brazil’s scrap market, with HMS 80:20 holding at BRL 900/t ($178/t) FOT, clean steel scrap at BRL 975/t ($193/t) FOT, and turnings at BRL 800/t FOT ($158/t). However, export scrap prices remained unchanged as subdued overseas demand limited further upward momentum.
Mexico: Market steady despite sluggish steel demand
Mexico’s ferrous scrap market remained stable during the week, with buyers maintaining procurement prices despite weak finished steel demand. Scrap prices were largely unchanged across major regions as mills continued to follow May pricing levels.
Mexico’s ferrous scrap market remained stable, with busheling assessed at MXN 7,300/t ($424/t) FOB Northeast and HMS 1 at MXN 6,700/t ($389/t) FOB. Most mills maintained procurement prices, while balanced supply conditions and cautious buying continued to support steady market sentiment.
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