Prices on the European market remained at the previous month's level

Global prices for ferrous scrap rose by up to 10% in April, and compared to the start of the year, prices remain 5–20% higher depending on the region, indicating a gradual market recovery following a weak start to the year.

Turkey

In Turkey, prices for HMS 1&2 80:20 scrap rose by 2.4% to $407.5/t for the period from April 3 to May 1, marking the highest level since February 2024. The average price of raw materials for the past month stood at $400.8/t—a 5.3% increase compared to the March figure ($380.7/t).

April for the Turkish market was marked by a struggle between costs and demand. At the start of the month, steelmakers adopted a wait-and-see stance due to weak rebar sales and rising energy costs, but sellers firmly held their ground, citing higher logistics costs and geopolitical risks.

The middle of the month proved to be a turning point, as limited supply and expensive European resources effectively cemented the minimum levels. Under pressure to meet May demand, mills returned to the market, pushing prices above $400/t. An additional factor was the rise in billet prices, which failed to become a viable alternative.

By the end of April, the market entered a phase of equilibrium. Suppliers attempted to raise prices, but weak demand and a liquidity shortage held back growth. As a result, prices stabilized within the $400–410/t range.

In the near term, the market will remain sensitive to external factors: supply shortages and logistics costs will support prices, but weak steel prices will limit their further growth.

EU

In the EU, scrap prices in April remained at the previous month’s levels; specifically, in Germany, the price of E3 scrap remained unchanged at €300/t ex-works, while in Italy (E3), it fell by 0.8% to €327.5/t delivered.

The European scrap market effectively remained at the levels reached last month. In Germany and Austria, stable demand from steelmakers was matched by sufficient supply, which helped avoid price fluctuations even despite higher energy costs.

Italy was a different story, as limited collection kept prices at elevated levels, but weak confidence among mills and high production costs blocked attempts at growth. The market moved through individual agreements, where premiums for high-quality grades did not alter the overall picture.

External demand remained the key stabilizing factor. Increased purchases by Turkey ensured an outflow of material from northern ports and prevented prices from falling, although this did not form a full-fledged upward trend.

Looking ahead, the balance may shift toward growth: transportation costs are already rising, and if export activity continues, the market will receive an additional boost in May.

United States

In the U.S. market (U.S. East Coast), scrap prices rose by 3.3% in April to $363/t FOB. The average price for the month stood at $355.1/t, up 5.5% compared to March ($336.6/t).

The US market in April was shaped by adjustments in domestic consumption and strong external demand. At the start of the month, increased supply and reduced consumption due to production downtime put pressure on lower-grade scrap, while premium scrap remained in short supply.

After April contracts were finalized, the situation quickly stabilized. High prices for pig iron and stable demand for flat products sustained interest in high-quality raw materials, while exports—primarily to Turkey—formed a solid price foundation.

In the second half of the month, exports became the main driver of growth. New deals at over $400/t CFR Turkey raised expectations and strengthened sellers’ positions.

In the short term, the market looks solid. Premium grades may continue to rise, while lower-grade scrap stabilizes with a gradual upward trend.

China

In China, import prices for scrap rose at the fastest rate in April—by 9.9% to $390/t—while domestic offers increased by only 1.6% to $352.6/t.

The Chinese market in April was clearly divided into two segments. Domestically, prices moved slowly due to weak margins at electric arc furnaces and unstable demand for steel. Even with rising production, mills limited purchases in an effort to control costs.

The import segment followed a completely different trajectory. A global rise in scrap prices, particularly in Japan, coupled with a supply shortage, led to a sharp increase in prices. Suppliers shifted their focus to more profitable markets, effectively pushing China out of active trade.

At the end of the month, domestic prices received short-term support due to reduced shipments and pre-holiday restocking, while imports remained expensive and scarce.

In the near term, the domestic market will remain relatively stable, while import prices will continue to be driven by global shortages and strong demand outside of China.