India Steel Scrap Prices Fall Ahead
Alang melting scrap and other Indian scrap categories slipped as buyers stay on sidelines amid slow demand and upcoming holidays. The downward movement indicates a short‑term easing in scrap supply.
Steel Scrap Price Trend Analysis 2026: Market Insights, Historical Prices, Price Drivers, Supply Demand Analysis & Latest News
Written ByPragati Agarwal
Steel Scrap Latest Development
Steel Scrap Prices Drop in Shanghai
Steel scrap prices fell more than finished steel, reflecting stronger supply and weaker demand. The decline signals a short‑term consolidation and a bottoming trend for rebar futures.
Steel Scrap Price Trend Q3 2026
| Product | Region | Incoterm Basis | Price | Last Updated Month |
|---|---|---|---|---|
| Steel Scrap | China | FOB | USD 347.23/MT | August 2026 |
| Steel Scrap | India | CIF | USD 438.02/MT | August 2026 |
| Steel Scrap | USA | CIF | USD 502.85/MT | August 2026 |
| Steel Scrap | Germany | CIF | USD 460.82/MT | August 2026 |
| Steel Scrap | Australia | CIF | USD 441.90/MT | August 2026 |
| Steel Scrap | China | FOB | USD 345.80/MT | July 2026 |
| Steel Scrap | India | CIF | USD 452.61/MT | July 2026 |
| Steel Scrap | USA | CIF | USD 533.29/MT | July 2026 |
| Steel Scrap | Germany | CIF | USD 479.43/MT | July 2026 |
| Steel Scrap | Australia | CIF | USD 444.26/MT | July 2026 |
Stay updated with the latest Steel Scrap prices, historical data, and tailored regional analysis
Steel Scrap Price Trend Q3 2026
- During the third quarter of 2026, steel scrap prices remained soft, as weak steel demand and cautious buying in key import markets outweighed steady export flows.
- Scrap collection and export supply stayed ample, while rising stocks at mills gave steelmakers more bargaining power in price negotiations with suppliers.
- Demand from electric arc furnace steelmakers stayed lukewarm due to slow construction activity, and sluggish buying in Turkey weighed on prices late in the quarter.
In China, the average price of Steel Scrap edged up from ~USD 345.80/MT (FOB) in July to ~USD 347.23/MT in August, showing a slight increase. India's average import price fell about 3.2%, from ~USD 452.61/MT (CIF) to ~USD 438.02/MT. Chinese prices stayed broadly flat, as lukewarm construction demand and rising mill scrap stocks limited gains. Japan's export prices fell for several months in a row, adding cheaper supply to Asian markets. India reduced its purchases of EU scrap by 26.2% in the first half of the year, reflecting softer import demand. In Germany, prices dropped about 3.9%, from ~USD 479.43/MT (CIF) to ~USD 460.82/MT. In Europe, exports remained strong, but sluggish demand from Turkey, the EU's largest buyer, weighed on prices in late September. A new policy risk also emerged, as the European Commission proposed barring most non-OECD buyers, including India, Pakistan and Egypt, from importing EU scrap classed as waste from May 2027. Recyclers warned this could leave Europe oversupplied and push prices lower.
Analyst Insight
According to Procurement Resource, in the near term, steel scrap prices are likely to stay soft as ample supply and weak steel demand continue, though restocking may offer brief support.
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- Steel scrap prices increased moderately in Asia during Q2'26, supported by constrained scrap availability and rising competition for high quality feedstock.
- Limited obsolete scrap generation and modest global steel production growth tightened supply, while expanding EAF capacity increased scrap's strategic importance.
- Stable steel output and the shift toward circular steelmaking sustained procurement activity and supported regional price gains.
In China, the monthly average Steel Scrap price was ~RMB 2.49/kg in April and around RMB 2.53/kg in the subsequent month, showing an increase of ~1.7%. The marginal increase was primarily driven by limited scrap generation and steady buying from domestic steelmakers, while modest steel production growth and subdued obsolete scrap collection kept feedstock availability tight. In India, the monthly average Steel Scrap price was ~INR 33.99/kg in April and around INR 35.99/kg in the subsequent month, showing an increase of ~5.8%. The sharper increase was supported by concerns over impending EU scrap export restrictions, prompting India, one of the world's largest recycled metal importers, to seek exemptions amid fears of higher raw material costs and intensified competition for global scrap cargoes. Across both markets, expanding electric arc furnace (EAF) capacity and the growing transition toward circular steelmaking further elevated demand for high-quality scrap.
About Steel Scrap
Steel scrap or scrap is the product produced by re-using steel scrap generated from steel manufacturing processes. It can be remelted over and over endlessly to make new products such as automobiles, rail coaches, ships, white goods, construction products, machinery, electrical and electronic equipment, as well as packaging material.
Steel Scrap Product Detail
HS Code
72044910/ 72044900
Industrial Uses
Used for manufacturing various goods, including home furnishings from metal beds to office equipment, steel lamps and steel tables, white goods, vehicles, electronics, machinery, and packaging, among others.
Synonyms
Scrap metal, Metal Scrap, Ferrous Scrap
Supplier Database
EVRAZ North America, China Steel Corporation (CSC), American Iron & Metal Company Inc., OmniSource, LLC, Hyundai Motor Company, TSR Recycling GmbH & Co. KG, European Metal Recycling Ltd., Innovative Metal Recycling, SA Recycling LLC, Schnitzer Steel Industries, Inc., Ward Recycling Ltd, Inc.
Regional Coverage
Asia Pacific
China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Iran, Thailand, South Korea, Iraq, Saudi Arabia, Malaysia, Nepal, Taiwan, Sri Lanka, UAE, Israel, Hongkong, Singapore, Oman, Kuwait, Qatar, Australia, and New Zealand
Europe
Germany, France, United Kingdom, Italy,Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece
North America
United States and Canada
Latin America
Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru
Africa
South Africa, Nigeria, Egypt, Algeria, Morocco
CurrencyUS$ (Data can also be provided in local currency)
Supplier Database AvailabilityYes
Customization ScopeThe report can be customized as per the requirements of the customer
Post-Sale Analyst Support360-degree analyst support after report delivery
Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.
Frequently Asked Questions
Global steel scrap followed a firm to upward trend in Q1 2026, driven by tight supply, higher freight costs, and elevated energy expenses. Turkey and the USA recorded the strongest gains, while Europe stabilised and China saw only limited increases.
Winter-related collection delays, elevated freight costs, and geopolitical disruptions affecting shipping routes increased procurement expenses in Q1 2026. Tight scrap availability and higher energy costs also supported prices across major import markets.
The supply chain runs from collection and shredding through processing yards, traders, and exporters, before reaching EAF and BOF steelmakers globally.
China led global steel scrap consumption in 2025 at 227.0 million tonnes, followed by the EU at 74.4 million tonnes and the USA at 57.0 million tonnes. India and Turkey were the standout growth markets, with consumption rising 17.9% and 5.8% respectively, while the EU, Japan, and South Korea recorded declines.
Globally, the shift toward EAF steelmaking is the primary structural driver of scrap demand, as EAFs use scrap as their main feedstock while emitting significantly less carbon than traditional blast furnaces.
Global recycled steel usage rose 4.5% to 480.268 million tonnes in 2025 despite a 2.2% decline in overall crude steel production, signalling a structural shift toward scrap-intensive steelmaking.
Steel scrap demand is closely tied to construction and manufacturing activity, as these sectors drive rebar and long steel consumption at EAF mills. In Q1 2026, weak construction recovery in China and cautious procurement across Europe limited scrap buying interest, keeping gains modest despite tight supply conditions.
Algoma Steel permanently closed its blast furnace on January 18, 2026, completing Canada's largest decarbonisation project and fully transitioning to EAF-based scrap steelmaking, with EAF Unit 1 running 24 hours a day and record steel plate sales of 116,000 tonnes achieved in Q1 2026.
China remained the world's largest steel scrap consumer in 2025 at 227.0 million tonnes, with usage rising 8.3% year-on-year despite a 4.4% decline in crude steel production to 960.8 million tonnes. Its low EAF adoption rate relative to Turkey and the USA means any shift in Chinese demand has an outsized amplifying or dampening effect on global scrap trade flows and sentiment.
Procurement Resource analyses metal price trends using primary market research, trade data, supply-demand analysis, and feedstock tracking. The methodology also evaluates inventories, freight costs, and macroeconomic factors, supported by continuous market monitoring and cross-verification.
Our Price Analysis Methodology
About the Author
Pragati Agarwal
Senior Business Insights Analyst
Delivering price trend analysis and procurement market insights at Procurement Resource, with expertise in identifying commodity patterns, supporting purchasing strategies, and improving cost efficiency through actionable market intelligence.
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