Scrap Stainless Steel Price Trend and Forecast 2026-2027

Europe stayed the priciest of the four scrap stainless steel markets tracked here, and it widened its lead a bit in Q2 2026 - up 4.7% to USD 1,790.00/MT from USD 1,710.00/MT in Q1, largely a function of tight 300-series collection volumes against strong mill demand. China's move had a different driver: prices there climbed 5.1% to USD 1,640.00/MT after Indonesia tightened its nickel ore export policy, pushing mills to lean harder on scrap and nickel pig iron blends. Add it all up across the four regions and the global average rose from USD 1,630.00/MT to USD 1,710.00/MT, a 4.9% gain that continues the climb this market's shown since early 2025. Scrap stainless steel is recycled feedstock pulled from end-of-life industrial equipment, construction materials, and manufacturing offcuts, graded chiefly by its nickel and chromium content across the 200, 300, and 400 series alloy families. Electric arc furnace mills remelt it as a substitute for a portion of virgin nickel, chromium, and iron ore - which is exactly why its price tracks primary nickel markets so closely. What tends to move this market: nickel ore trade policy, how hard mills are running, collection and yard inventory levels, and construction or equipment-replacement cycles.

Scrap Stainless Steel Price Forecast for 2026

Firmness looks like the more likely path through the second half of 2026. Indonesian nickel ore export restrictions should keep primary nickel costs elevated, and mills are likely to keep favouring scrap-heavy melt charges wherever collection volumes allow. Chinese pricing should keep climbing as domestic mills compete for available 300-series material, while European pricing should stay the highest of the four - collection volumes there remain structurally tight relative to what mills need. The US and India should track the broader drift upward on steady construction and equipment-replacement demand. Unless the nickel ore restrictions ease faster than expected, gradual is the better bet for the rest of the year, not dramatic.

A further tightening of Indonesian nickel ore policy, combined with a stronger equipment-replacement cycle in China, could push prices toward the top of the ranges below. On the other hand, a faster-than-expected easing of the nickel ore restrictions alongside a global construction slowdown could pull the average back down toward the lower end.

For the Quarter Ending June 2026

Scrap Stainless Steel Prices Q2 2026:

• United States: USD 1,720.00/MT
• Europe: USD 1,790.00/MT
• China: USD 1,640.00/MT
• India: USD 1,690.00/MT

Scrap Stainless Steel Prices in the United States

US prices rose 4.9% in Q2 2026, from USD 1,640.00/MT to USD 1,720.00/MT, as rising primary nickel costs - linked to Indonesia's ore export restrictions - pushed mills to bid more aggressively for 300-series scrap. Yard inventories tightened through the quarter as export demand from Asian mills competed head-on with domestic electric arc furnace consumption.

Why did the price of Scrap Stainless Steel change in Q2 2026 in the United States?

Rising primary nickel costs pushed domestic mills to compete harder for available 300-series scrap, and firm export demand from Asian buyers drew yard inventories down faster than usual - together that's most of the story behind this quarter's move. Dealers reported thinner stockpiles than normal heading into the next quarter.

Scrap Stainless Steel Prices in Europe

Europe held its lead as the costliest market tracked, up 4.7% to USD 1,790.00/MT from USD 1,710.00/MT in Q1. Collection volumes for 300-series scrap stayed structurally tight, and electric arc furnace mills leaned harder on scrap this quarter to limit their exposure to costlier primary nickel inputs - both kept the regional premium firmly in place.

Why did the price of Scrap Stainless Steel change in Q2 2026 in Europe?

With collection volumes staying tight, European mills found themselves competing for a genuinely limited pool of high-grade 300-series material, and the incentive to substitute scrap for pricier primary nickel only grew as ore-linked nickel prices climbed. Mills extended their sourcing radius further than usual just to secure enough tonnage.

Scrap Stainless Steel Prices in China

No market moved more than China this quarter - prices jumped 5.1% to USD 1,640.00/MT from USD 1,560.00/MT in Q1. Indonesia's tightened nickel ore export policy pushed domestic mills to lean more heavily on scrap and nickel pig iron blends to manage input costs. Buyers moved fast to secure available tonnage, and yard prices in key coastal recycling hubs climbed through the back half of the quarter.

Why did the price of Scrap Stainless Steel change in Q2 2026 in China?

Tighter Indonesian nickel ore export policy pushed the cost of primary nickel inputs up sharply, and domestic mills responded by shifting more of their melt charge toward scrap and nickel pig iron blends - that combination drove the steepest quarterly move in this report. Coastal recycling yards reported brisk buying interest all quarter long.

Scrap Stainless Steel Prices in India

Indian prices rose 5.0% in Q2 2026 to USD 1,690.00/MT from USD 1,610.00/MT in Q1, as expanding domestic mill capacity competed for available 300-series scrap alongside rising nickel-linked import costs. Firm demand from the country's growing stainless steel manufacturing base, plus steady export competition from regional buyers, kept the pressure on through the quarter.

Why did the price of Scrap Stainless Steel change in Q2 2026 in India?

Expanding domestic mill capacity intensified the competition for available 300-series scrap right as rising nickel-linked import costs pushed producers to lean more on domestically sourced material - and steady export competition from regional buyers added further pressure on top. Collection yards reported firm demand across every major sourcing region.

For the Quarter Ending March 2026

Scrap Stainless Steel Prices Q1 2026:

• United States: USD 1,640.00/MT
• Europe: USD 1,710.00/MT
• China: USD 1,560.00/MT
• India: USD 1,610.00/MT

Scrap Stainless Steel Prices in the United States

US prices rose 3.8% in Q1 2026 to USD 1,640.00/MT from USD 1,580.00/MT in Q4 2025, as rising primary nickel prices and firm export demand from Asian mills kept upward pressure on domestic scrap values. Winter weather trimmed collection and processing activity in several regions, adding a modest extra layer of tightness.

Why did the price of Scrap Stainless Steel change in Q1 2026 in the United States?

Rising primary nickel prices lifted scrap's substitution value right as export demand from Asian mills stayed firm, and winter weather slowed collection and processing enough to reinforce the move further. Together, that kept the market comfortably on its established upward path heading into Q2.

Scrap Stainless Steel Prices in Europe

European prices rose 3.6% in Q1 2026 to USD 1,710.00/MT from USD 1,650.00/MT in Q4 2025, extending the region's position as the priciest market tracked. Structurally tight collection volumes, paired with steady electric arc furnace mill demand, kept the market firmly on its upward path.

Why did the price of Scrap Stainless Steel change in Q1 2026 in Europe?

Collection volumes stayed tight, keeping structural cost pressure elevated, and steady mill demand left little room for prices to soften - together, that's enough to explain the steady drift this market's shown throughout the period. No single event drove it; the same gradual pressure just kept carrying.

Scrap Stainless Steel Prices in China

Chinese prices rose 4.0% in Q1 2026 to USD 1,560.00/MT from USD 1,500.00/MT in Q4 2025. Seasonal trucking restrictions tied to Lunar New Year tightened available supply, and firm mill demand added further pressure. Rising primary nickel costs played a part too, as mills sought to limit exposure to costlier ore-linked inputs wherever scrap availability allowed.

Why did the price of Scrap Stainless Steel change in Q1 2026 in China?

Holiday-period trucking restrictions slowed domestic scrap distribution right as mill demand stayed firm, and rising primary nickel costs pushed producers toward scrap-heavy melt charges wherever supply allowed. A few yards were also slow to reopen at full capacity once the holiday ended.

Scrap Stainless Steel Prices in India

Indian prices rose 3.9% in Q1 2026 to USD 1,610.00/MT from USD 1,550.00/MT in Q4 2025, as expanding domestic mill capacity and rising nickel-linked import costs kept the market on its established path. Firm demand from the country's growing stainless steel manufacturing base added extra support through the quarter.

Why did the price of Scrap Stainless Steel change in Q1 2026 in India?

Expanding domestic mill capacity increased competition for available scrap tonnage right as rising nickel-linked import costs raised the substitution value of domestically sourced material - together, that kept the market comfortably on its established upward trajectory. The pattern matched what every prior quarter of the period covered has shown.

Quarterly Scrap Stainless Steel Price Trends

Scrap stainless steel's global average climbed from USD 1,480.00/MT in Q2 2025 to USD 1,710.00/MT in Q2 2026 - a 15.5% gain over the year. Tight European collection volumes, rising nickel-linked substitution value, and Indonesia's tightened nickel ore export policy - which accelerated the move this quarter - all played a part. The US and Europe moved in fairly steady bands the whole way; China and India are where the sharper recent acceleration has shown up.

What was Scrap Stainless Steel Price in 2025?

Every region tracked posted a firm annual gain across 2025, though the pace and drivers varied by market. Global average pricing moved higher each quarter, pushed mainly by tight 300-series collection volumes in Europe, rising primary nickel costs, and firm mill demand across every region. India and the US posted the strongest gains for the year. Europe's increase was comparatively steady in percentage terms, despite entering 2025 with the highest base price of the four markets.

Scrap Stainless Steel Prices in the United States in 2025

US prices rose from about USD 1,450.00/MT to USD 1,580.00/MT across 2025 - a 9.0% gain, the largest of the four regions tracked - as rising primary nickel costs and firm export demand from Asian mills kept upward pressure on domestic scrap values all year. Collection and processing activity stayed broadly steady, with cost pressure building gradually rather than through any single disruptive event.

Scrap Stainless Steel Prices in Europe in 2025

European prices moved from about USD 1,520.00/MT to USD 1,650.00/MT over 2025, up 8.6% - the smallest annual gain among the regions in percentage terms, even though Europe remained the highest-priced market throughout the year. Structurally tight 300-series collection volumes and steady electric arc furnace mill demand kept this market on a consistent upward path across all four quarters.

Scrap Stainless Steel Prices in China in 2025

China moved from about USD 1,380.00/MT to USD 1,500.00/MT across 2025, an 8.7% gain, as firm mill demand and gradually rising primary nickel costs kept upward pressure on through the year. That steady climb then turned sharp in Q2 2026 once Indonesia's tightened nickel ore export policy pushed mills toward heavier scrap and nickel pig iron blend usage.

Scrap Stainless Steel Prices in India in 2025

India rose from about USD 1,420.00/MT to USD 1,550.00/MT over 2025 - a 9.2% gain - as expanding domestic mill capacity and rising nickel-linked import costs kept the market on a steady upward path all year. Firm demand from the country's growing stainless steel manufacturing base reinforced the climb, setting up further acceleration in early 2026.

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Expert Market Research keeps continuous tabs on scrap stainless steel prices across every major region, pulling together nickel-linked cost data, yard inventory trends, and mill demand signals into one regularly updated picture of the market. We're not just telling you prices moved - we're explaining why. Our team can help procurement benchmark supplier quotes, plan purchases around where markets diverge, and build a defensible read on where this feedstock is headed. Get in touch with Expert Market Research for scrap stainless steel pricing data, bespoke market analysis, and procurement advisory built around your needs.