News from May 2025
According to Fastmarkets, global steel scrap markets saw renewed strength in mid-May, driven by improving trade sentiment between the U.S. and China and a wave of restocking activity from Turkish steelmakers. According to Fastmarkets, prices climbed in key export markets, with demand tightening and sellers gaining leverage for the first time in weeks.
Turkey, often viewed as a bellwether for global scrap pricing, was active early in the week, purchasing deep-sea cargoes from the U.S., Europe, and the Baltic. These deals pushed prices up to $347 per ton for HMS 1&2 (80:20) and $367 per ton for shredded scrap, before trading activity paused heading into the weekend.
Elsewhere, the price increases were felt across Asia. Vietnam and Taiwan saw slight gains, though Taiwanese mills were cautious due to sluggish demand for finished steel. In India, disruptions in Pakistan’s container imports may shift scrap trade flows, creating potential new demand in neighboring markets.
The upward trend follows a period of decline earlier this spring and suggests a more balanced global scrap market may be forming as mills replenish inventories and steel markets stabilize.
Key Takeaways:
- Turkish mills led the rebound, restocking at higher prices and signaling tighter supply.
- U.S. East Coast exporters saw their highest pricing in nearly a month for shipments to Turkey.
- Easing U.S.-China trade tensions are helping improve global sentiment and scrap market confidence.
- Asian markets like Vietnam and Taiwan saw modest gains, though buyers remain cautious.
- India could benefit from disrupted trade to Pakistan, potentially increasing regional demand for U.S. scrap.
What This Means for Cozzi Recycling Customers:
While U.S. domestic prices have dropped in recent months, the rebound in global pricing could begin to support export-driven demand and gradually lift prices at home. For individuals and businesses selling scrap to Cozzi Recycling, this shift won’t result in immediate price hikes at the scale, but it’s a positive indicator that market pressure could ease in the coming weeks.
Stay Informed:
As always, Cozzi Recycling is keeping a close eye on market developments. Contact us directly to get the most accurate, up-to-date information before selling. We’re here to help you make the most of every load.