Scrap Stainless Steel Price Trend and Forecast 2026-2027

Key Takeaways

• The two markets tracked here sat far apart. Europe held between USD 1.39 and 1.48/KG through 2025, while North America ran at roughly half that level, in a USD 0.62 to 0.67/KG band.
• Both markets softened to their lows in the fourth quarter of 2025, then recovered into early 2026, pointing to a shared late-period turn.
• Europe firmed to USD 1.48/KG in Q2 2025 before easing to USD 1.39/KG by Q4 and recovering to USD 1.44/KG in Q1 2026.
• North America eased from USD 0.67/KG to a low of USD 0.62/KG in Q4 2025, then rebounded to USD 0.65/KG in Q1 2026.
• The scrap stainless steel market forecast for the remainder of 2026 stays steady, with Europe projected at USD 1.37 to 1.44/KG and North America at USD 0.62 to 0.65/KG.

What Is Scrap Stainless Steel and Why Does It Matter?

Scrap stainless steel is recycled stainless metal, collected from old equipment, offcuts, and end-of-life products, and remelted to make new stainless steel. It carries valuable alloying elements such as nickel and chromium, which is what gives it worth well above ordinary steel scrap. It sits in the recycled metals bucket, where alloy content and grade drive the price.

From a market view, scrap stainless steel matters because it is the main feedstock for stainless production, most of which is made in electric arc furnaces. Using scrap recovers the embedded nickel and chromium, so its price tracks the alloy market closely and serves as a read on stainless demand across construction, appliances, and industry.

Because it is an alloy-bearing recycled metal, scrap stainless prices respond to a focused list of inputs: nickel and chromium prices, stainless steel demand, mill activity, collection and export flows, energy, and currency.

Which Sectors Are Driving Scrap Stainless Steel Demand?

• Stainless Steel Production: this is the dominant pull, where mills melt scrap to recover nickel and chromium and make new stainless. Demand tracks stainless output and the wider construction and industrial cycle.
• Foundries and Alloy Production: foundries use stainless scrap for castings and specialty alloys, a steady industrial source of demand that values consistent alloy content.
• Appliances and Consumer Goods: the stainless that goes into appliances, kitchenware, and fittings eventually returns as scrap, linking the market to consumer-durable cycles.
• Construction and Infrastructure: structural and architectural stainless ties part of the demand base to building activity, both as a source of scrap and as an end market for the metal.

Global Scrap Stainless Steel Price Trend in 2025

Taken as a simple average of the 2 regions tracked in this report, the global scrap stainless steel benchmark eased from USD 1.06/KG in Q1 2025 to USD 1.00/KG by Q4 2025, before firming further to USD 1.04/KG in Q1 2026. The global figure is calculated only from the regional series shown in this report, and the quarter-by-quarter path is set out in the table below.

European Scrap Stainless Steel Price Trend in 2025

Europe was the higher-priced market in this report, trading at roughly double the North American level. Prices held in a relatively narrow band through 2025, firming early before easing to a Q4 low and recovering into 2026. The European market reflected steady alloy values and regional mill demand.

The benchmark firmed from USD 1.46/KG in Q1 2025 to USD 1.48/KG in Q2, then eased to USD 1.45/KG in Q3 and USD 1.39/KG in Q4, before recovering to USD 1.44/KG in Q1 2026. The moves were modest, reflecting a market anchored by alloy content rather than sharp swings.

North America Scrap Stainless Steel Price Trend in 2025

North America was the lower-priced market, trading at around half the European level on a different grade and quotation basis. Prices were range-bound through 2025, dipping to a Q4 low before recovering into 2026, broadly mirroring the European pattern.

The benchmark eased from USD 0.67/KG in Q1 2025 to USD 0.65/KG in Q2, firmed back to USD 0.67/KG in Q3, then fell to a low of USD 0.62/KG in Q4 before rebounding to USD 0.65/KG in Q1 2026. The shared late-period dip and recovery pointed to common alloy-market drivers across the two regions.

What Factors Drove Scrap Stainless Steel Costs in 2025?

• Nickel and chromium prices. Scrap stainless is valued for its alloy content, so nickel and chromium prices set the cost base and drove the shared swings across both markets.
• Stainless steel demand. Mill demand for scrap to feed stainless production set the demand base, with the Q4 softness reflecting cautious mill buying.
• Regional grade and quotation. The wide gap between Europe and North America reflects different grade baskets and quotation bases rather than a single global price.
• Collection and export flows. The availability of scrap and the pull of export markets shaped regional supply, influencing how far prices moved.
• Energy and the melt cost. Electricity costs at electric arc furnaces shaped the economics of melting scrap, adding a structural factor under regional pricing.
• The late-period recovery. The shared rebound into 2026 pointed to firmer alloy values and steadier mill demand after the fourth-quarter dip.

Scrap Stainless Steel Market Forecast for 2026

The scrap stainless steel market forecast for 2026 is steady. The projected paths hold near the recent ranges in both regions, consistent with the recovery from the fourth-quarter lows. The base case is a market that grinds sideways to modestly firmer, tracking alloy values and stainless demand.

The bull case is firmer nickel and chromium prices lifting alloy-bearing scrap, paired with stronger stainless output. The bear case is softer alloy prices and cautious mill buying, which would pull both markets back toward their fourth-quarter lows.

Expected Scrap Stainless Steel Price Range (remainder of 2026)

The projected ranges reflect the monthly values across the remainder of 2026 for each market. Europe sits well above North America, in line with the grade and quotation gap seen through the period.

Key Analyst Insights for the Scrap Stainless Steel Market

Scrap stainless steel is a market where alloy values, not bulk steel, set the price, and the two tracked markets moved on the same nickel and chromium drivers despite their different levels. Here is what the data shows, latest first.

• March 2026. Europe recovered to about USD 1.44/KG and North America to USD 0.65/KG, both back above their fourth-quarter lows as alloy values firmed.
• January 2026. Europe held near USD 1.43/KG and North America near USD 0.64/KG, with the recovery taking hold across both markets.
• December 2025. Both markets sat at their lows, with Europe around USD 1.40/KG and North America near USD 0.62/KG, on cautious mill buying.
• September 2025. Europe held near USD 1.43/KG and North America near USD 0.64/KG, easing from their mid-year levels.
• June 2025. Both markets reached their high points, with Europe around USD 1.47/KG and North America near USD 0.68/KG, on firmer alloy values.
• March 2025. Europe opened near USD 1.43/KG and North America near USD 0.66/KG, framing the wide level gap between the two.

The data shows two markets at very different price levels but moving to the same beat, because both track the nickel and chromium content that defines stainless scrap. The shared dip to a fourth-quarter low and the recovery into 2026 point to alloy values as the common driver. Watching nickel and chromium prices, along with stainless mill demand, gives the clearest read on the next move in either region.

Key Takeaways for Buyers and Manufacturers

With both markets tracking alloy values, the discipline is to read the metals behind the scrap rather than the scrap price alone.

For buyers, the shared swings and the regional level gap shape the sourcing approach.

• Read the alloy market. Nickel and chromium prices are the clearest early signal of where scrap stainless is heading in both regions.
• Use the fourth-quarter pattern. Both markets dipped late in the year before recovering, so soft autumn pricing can be a chance to build cover.
• Mind the regional gap. The level difference between Europe and North America reflects grade and quotation, and it is the key lever for cross-regional sourcing.
• Track mill demand. Stainless output sets the pull on scrap, so mill activity is a useful read on the demand base.

For manufacturers and mills, the value sits in managing alloy exposure and securing quality scrap.

• Hedge the alloy content. Because scrap value tracks nickel and chromium, managing that exposure protects margins through the swings.
• Secure consistent grades. Reliable, well-sorted scrap supply keeps melt economics predictable and quality on spec.
• Watch energy costs. Electricity is a core melt cost, so managing energy exposure supports competitiveness in stainless production.