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Scrap Iron Prices, Demand and Supply Overview
2025
Base Year
2023-2025
Historical Period
2026-2027
Forecast Period
Market Overview
Scrap Iron prices in Turkey, the highest-cost reporting region, rose 3.5% in Q2 2026 to USD 440.00/MT from USD 425.00/MT in Q1, as Turkish steelmakers continued paying premiums to secure cargo following the disruption caused by the escalating US-Israel-Iran conflict. Globally, the average rose from USD 372.22/MT in Q1 to USD 382.15/MT in Q2, a 2.7% gain, holding near two-year highs. For H2 2026, a global average of USD 365.00-410.00/MT is expected, with the closure of the Strait of Hormuz and the effective removal of Iranian steel and semi-finished product exports from global trade likely to keep this market well supported.
Scrap Iron, encompassing shredded, busheling, and heavy melting steel grades, is the recycled feedstock that electric arc furnace and induction furnace mills melt down to produce new steel products, from automobiles and rail coaches to construction materials and packaging. It can be remelted endlessly without loss of quality, making it a cornerstone of the circular economy for steel. Domestic collection and recycling volumes, steel mill demand and production rates, seaborne trade flows and freight conditions, and geopolitical disruptions affecting shipping routes are what drive prices in this market.
Scrap Iron Price Forecast for 2026
The outlook for Scrap Iron through H2 2026 stays firm, anchored by the ongoing disruption to Iranian steel and semi-finished product exports and continued Strait of Hormuz shipping constraints. Turkish steelmakers should remain the most exposed to further price pressure given their heavy reliance on seaborne scrap imports, while inventory buffers in other regions may absorb short-term delays before sustained disruption adds broader cost pressure across the ferrous value chain.
The main upside risk is a further escalation of the regional conflict or an extended closure of the Strait of Hormuz, which could remove additional volumes from global trade and push prices toward fresh multi-year highs. The main downside risk is a resolution of shipping disruptions combined with softer construction and infrastructure demand, which would relieve some of the current price pressure.
| Region | 2026 Price Range (USD/MT) | Outlook |
| Global Average | 365.00 - 410.00 | Iranian export disruption and shipping constraints keep this firm |
| Turkey | 420.00 - 465.00 | Heavy import reliance sustains the highest regional premium |
| Germany | 370.00 - 410.00 | Energy and transport costs support continued firming |
| United States | 335.00 - 370.00 | Stable domestic collection keeps this market comparatively calm |
| China | 330.00 - 365.00 | Moderate construction recovery limits the pace of gains |
For the Quarter Ending June 2026
Scrap Iron Prices Q2 2026:
- Turkey: USD 440.00/MT
- Germany: USD 385.00/MT
- United States: USD 350.00/MT
- China: USD 345.00/MT
Scrap Iron Prices in Turkey
Turkish Scrap Iron prices averaged USD 440.00/MT in Q2 2026, the highest of any region tracked here, up 3.5% from USD 425.00/MT in Q1, as steelmakers continued paying premiums above previous levels to secure cargo amid ongoing shipping disruptions.
Why did the price of Scrap Iron change in Q2 2026 in Turkey?
The closure of the Strait of Hormuz, through which roughly 20 percent of the world's seaborne trade transits, left around 200 ships stranded following the initial disruption, and Turkish steelmakers, heavily reliant on seaborne scrap imports, continued paying premiums exceeding earlier levels to secure cargo.
Scrap Iron Prices in Germany
German prices averaged USD 385.00/MT in Q2 2026, up 2.7% from USD 375.00/MT in Q1, as energy and transport cost pressure continued supporting this market even as supply conditions moved into a more balanced phase.
Why did the price of Scrap Iron change in Q2 2026 in Germany?
Earlier supply tightness eased somewhat as the quarter progressed, and mills showed increasing resistance to fresh increases, even as underlying costs remained supported by elevated energy and transport expenses.
Scrap Iron Prices in the United States
US prices averaged USD 350.00/MT in Q2 2026, up 2.0% from USD 343.00/MT in Q1, as stable domestic collection and steady mill demand kept this market comparatively calm relative to Turkey and Europe.
Why did the price of Scrap Iron change in Q2 2026 in the United States?
Stable domestic collection and recycling activity limited supply-side pressure, while demand from construction and infrastructure sectors showed only moderate movement, keeping this market in a comparatively narrow range.
Scrap Iron Prices in China
Chinese prices averaged USD 345.00/MT in Q2 2026, the lowest of the four regions, up 2.1% from USD 338.00/MT in Q1, as moderate construction recovery limited the pace of gains.
Why did the price of Scrap Iron change in Q2 2026 in China?
Slower construction sector recovery and limited new project activity capped steel demand and scrap buying interest, keeping the pace of Chinese price gains more moderate than in the more disruption-exposed Western and Turkish markets.
For the Quarter Ending March 2026
Scrap Iron Prices Q1 2026:
- Turkey: USD 425.00/MT
- Germany: USD 375.00/MT
- United States: USD 343.00/MT
- China: USD 338.00/MT
Scrap Iron Prices in Turkey
Turkish prices rose 7.6% in Q1 2026 to USD 425.00/MT from USD 395.00/MT in Q4 2025, as supply shortages and freight disruptions tied to the escalating regional conflict kept scrap values well supported.
Why did the price of Scrap Iron change in Q1 2026 in Turkey?
The US-Israel-Iran conflict, which escalated on 28 February 2026, reshaped global scrap iron and steel markets through supply disruptions, shipping bottlenecks, and rising energy costs, with Iran's port paralysis removing roughly 4 million tonnes of finished steel and 7 to 8 million tonnes of semi-finished products from global trade, and Turkish steelmakers began purchasing scrap for April at premiums exceeding USD 15 per ton above previous levels.
Scrap Iron Prices in Germany
German prices rose 4.7% in Q1 2026 to USD 375.00/MT from USD 358.00/MT in Q4 2025, as earlier supply tightness continued feeding through to firmer offers.
Why did the price of Scrap Iron change in Q1 2026 in Germany?
Earlier supply tightness across the region began feeding through to firmer offers, even as costs remained supported by energy and transport pressure tied to the broader conflict-driven disruption affecting seaborne raw material flows.
Scrap Iron Prices in the United States
US prices rose a modest 0.9% in Q1 2026 to USD 343.00/MT from USD 340.00/MT in Q4 2025, as winter-related collection delays offset reduced demand from the steel manufacturing sector.
Why did the price of Scrap Iron change in Q1 2026 in the United States?
Reduced demand from the steel manufacturing sector and sufficient scrap availability drove a generally downward-leaning trend earlier in the period, though winter-related collection delays and stable mill demand provided some offsetting support by the end of the quarter.
Scrap Iron Prices in China
Chinese prices rose 2.4% in Q1 2026 to USD 338.00/MT from USD 330.00/MT in Q4 2025, a mild increase as slower construction recovery limited steel demand and scrap buying interest.
Why did the price of Scrap Iron change in Q1 2026 in China?
Slower construction recovery and limited new project activity capped steel demand and scrap buying interest, keeping this market's gains mild relative to the sharper moves seen in more conflict-exposed Western markets.
Quarterly Scrap Iron Price Trends
Global Scrap Iron prices dipped in Q2 2025 before climbing steadily through the following quarters, with the pace of gains accelerating sharply from Q1 2026 onward as the escalating US-Israel-Iran conflict disrupted Iranian steel exports and closed the Strait of Hormuz to a significant share of global seaborne trade, pushing prices toward two-year highs.
| Quarter | Price (USD/MT) | QoQ Change | Direction |
| Q2 2026 | 382.15 | +2.7% | ↑ Rising |
| Q1 2026 | 372.22 | +4.2% | ↑ Rising |
| Q4 2025 | 357.34 | +2.0% | ↑ Rising |
| Q3 2025 | 350.35 | +3.7% | ↑ Rising |
| Q2 2025 | 337.75 | - | — Stable |
| Q3 2026 | In Progress | - | — In Progress |
What was Scrap Iron Price in 2025?
Scrap Iron firmed across every market covered in this report through 2025, with Turkey posting the strongest annual gain given its heavy reliance on seaborne imports, while the United States saw a modest decline as reduced steel manufacturing demand and sufficient domestic availability weighed on that market for much of the year.
Scrap Iron Prices in Turkey in 2025
Turkish prices firmed from about USD 365.00/MT in Q1 2025 to USD 395.00/MT by Q4, a gain of roughly 8.2%, the strongest annual increase of the four regions, well before the sharper 2026 conflict-driven acceleration.
Scrap Iron Prices in Germany in 2025
German prices firmed from about USD 340.00/MT in Q1 2025 to USD 358.00/MT by Q4, up roughly 5.3%, tracking gradually tightening regional supply through the year.
Scrap Iron Prices in the United States in 2025
US prices declined from about USD 355.00/MT in Q1 2025 to USD 340.00/MT by Q4, down roughly 4.2%, the only region among the four to post a negative annual figure, as reduced steel manufacturing demand and sufficient domestic scrap availability weighed on this market for much of the year.
Scrap Iron Prices in China in 2025
Chinese prices firmed from about USD 320.00/MT in Q1 2025 to USD 330.00/MT by Q4, up roughly 3.1%, the smallest annual gain of the four regions given moderate construction sector recovery.
How We Can Help
Expert Market Research: Your Source for Real-Time Scrap Iron Price Intelligence
Expert Market Research tracks Scrap Iron prices continuously across every major producing and consuming region, combining domestic collection and recycling data, steel mill demand trends, and geopolitical and shipping disruption signals into a single, regularly updated view of the market. Our team can help your procurement function benchmark current offers, plan purchases around the conflict-driven supply trends covered in this report, and build a defensible view of where this essential recycled steelmaking feedstock is headed next. Reach out to our team for a tailored briefing or a deeper look at any of the regional markets covered here.
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
Key Questions Answered in the Report
It is the recycled feedstock that electric arc furnace and induction furnace mills melt down to produce new steel products, from automobiles and rail coaches to construction materials and packaging.
The Q2 2026 global average was USD 382.15/MT, ranging from USD 345.00/MT in China to USD 440.00/MT in Turkey.
The global average rose from USD 357.34/MT in Q4 2025 to USD 372.22/MT in Q1 2026 and then to USD 382.15/MT in Q2, holding near two-year highs as conflict-driven shipping disruptions tightened availability.
The escalating US-Israel-Iran conflict paralyzed Iranian ports, removing roughly 4 million tonnes of finished steel and 7 to 8 million tonnes of semi-finished products from global trade, while the closure of the Strait of Hormuz disrupted a significant share of the world's seaborne trade, leaving around 200 ships stranded and tightening the global ferrous scrap market.
The global average is expected in the USD 365.00-410.00/MT range, with Iranian export disruption and shipping constraints likely to keep this market firm.
China holds the lowest cost among the regions tracked here given moderate construction demand, while Turkey carries the highest cost given its heavy reliance on seaborne scrap imports.
This report is updated monthly. For real-time pricing intelligence, connect with the Expert Market Research team.
Domestic collection and recycling volumes, steel mill demand and production rates, seaborne trade flows and freight conditions, and geopolitical disruptions affecting shipping routes.
The United States, Turkey, and the European Union are among the largest scrap-trading markets, with Turkey standing out as one of the world's largest scrap importers for its electric arc furnace steel industry.
Buyers can monitor geopolitical shipping disruptions and Iranian export status given their outsized influence on this market, time forward purchases around the quarterly breakdowns in this report, and benchmark supplier quotes against the tracked price ranges.
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