During Q1’26, iron scrap prices remained firm as steelmakers maintained steady scrap consumption and supply conditions stayed relatively tight. U.S. apparent consumption of iron and steel scrap was estimated at 57 million tons in 2025, reflecting stronger scrap utilization entering 2026. Global crude steel production reached 159.9 million tons in March 2026, indicating continued large-scale downstream scrap demand despite softer year-on-year steel output. Demand from electric arc furnace mills, construction-linked steel production, foundries, and long steel manufacturers supported market activity throughout the quarter. In Asia, stronger March steel exports improved scrap consumption sentiment, while North America remained supported by stable domestic collection and steel mill demand. Supply-side support also strengthened after Tata Steel inaugurated a scrap-based electric arc furnace facility in India with capacity of 0.75 million tonnes per year, supporting future regional scrap demand growth. However, by the end of the quarter, freight disruptions, higher insurance costs, and delayed shipments following the Iran war and Strait of Hormuz closure tightened tradable scrap availability and increased delivered market costs.
Analyst Insight
According to Procurement Resource, iron scrap prices are expected to remain firm due to stable steel-sector demand and continued logistics pressure, though moderate steel production growth may limit sharper upward movement.
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Iron scrap prices in Q4’25 moved unevenly, reflecting a mix of supply constraints, seasonal effects, and cautious buying from steelmakers. At the end of the year, global markets were shaped by reduced activity in some regions and limited availability of high quality scrap. In Turkey and the United States, prices showed moderate increases as mills and buyers worked to replenish stocks ahead of year end, while strong export demand from nearby regions added support.
Meanwhile, in Europe and parts of Asia, the market faced softer conditions. Steel demand remained weak, and many mills relied on existing inventories rather than making large purchases. Seasonal slowdowns, holiday shutdowns, and shorter processing periods further reduced market activity. Traders and suppliers held back sales in some areas, adding stability to prices but also limiting upside momentum.
Despite these mixed conditions, the market maintained a relatively steady tone. Seasonal supply reductions and ongoing demand from mills needing to prepare for early next-year production prevented prices from falling sharply. Overall, the quarter reflected a balance between constrained supply in some regions and subdued demand in others, resulting in modest but consistent price levels.
Analyst Insight
According to Procurement Resource, Iron Scrap prices are likely to remain stable, with only small fluctuations as steel production and buying activity gradually return to normal after the holidays.
Iron scrap refers to discarded or recycled iron containing materials and products derived from old-machinery, vehicles, appliances, and structural components. ich can then be melted down and reused in various industrial applications, particularly in the production of steel and iron-based alloys. Recycling iron scrap helps conserve resources, reduce waste, and minimize the environmental impact associated with mining and producing new iron materials.
Steel production, Foundries, Construction, Automotive industries, Fencing and security, Energy Industry
American Iron & Metal Company Inc, European Metal Recycling Ltd, Innovative Metal Recycling, SA Recycling LLC, Schnitzer Steel Industries Inc, Rudolf Schuy Gmbh Co KG, TSR Recycling GmbH & Co KG
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Rakesh Nandi
Team Lead - Market Research
Leading procurement-focused market intelligence across chemicals, composites, advanced materials, aerospace & defense, and energy, delivering commodity forecasts, supply chain analysis, and competitive benchmarking to support sourcing decisions.
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