Why are Steel Scrap (Europe) Prices so high?
06-02-2026 - Over the past month, the price of steel scrap has experienced a slight increase, moving from $370/t to $375/t. This modest rise indicates a potential strengthening in the raw material market, possibly due to shifts in supply and demand dynamics. The forecast for steel scrap is $375.36/t, reflecting a minor increase of $0.36/t or 0.1% from the current price of $375/t. This suggests a generally stable trend with minimal risk, indicating steady raw material pricing.
The forecast also highlights a potential downward price impact of -$1.99/t, primarily influenced by Flows data, including Seaborne Imports & Exports and Exchange Rates. While Supply and Technical data suggest upward pressure, Demand and Flows data point to a decrease in raw material prices.
According to a report by S&P Global dated February 14, 2025, the London Metal Exchange (LME) steel scrap futures market showed a contango structure, with forward prices for March and April 2025 exceeding the spot price. This indicates that futures traders anticipated an upward trend in Turkish scrap prices in the medium term. This historical data aligns with the current forecast direction, suggesting that market participants expected steel scrap prices to rise at that time.
The forecast also highlights a potential downward price impact of -$1.99/t, primarily influenced by Flows data, including Seaborne Imports & Exports and Exchange Rates. While Supply and Technical data suggest upward pressure, Demand and Flows data point to a decrease in raw material prices.
According to a report by S&P Global dated February 14, 2025, the London Metal Exchange (LME) steel scrap futures market showed a contango structure, with forward prices for March and April 2025 exceeding the spot price. This indicates that futures traders anticipated an upward trend in Turkish scrap prices in the medium term. This historical data aligns with the current forecast direction, suggesting that market participants expected steel scrap prices to rise at that time.
What is the current / spot price of Steel Scrap (Europe)?
Steel Scrap (Europe) Price Today
February 6, 2026
Current Price
375
What is the forecast for the price of Steel Scrap (Europe)?
Steel Scrap (Europe) Price Forecast
February 9, 2026
1 Month Forecast
375.36
1 Year Forecast
337.71
What are the short-term drivers of Steel Scrap (Europe) prices?
Over the 1 Month horizon the outlook is moderately bullish due to drivers such as: - The net positions of speculators on the LME - Short term price trends - Coal imports to Brazil Br(None) The top contrary drivers for the 1 Month horizon are: - Long term price trends - Steel imports to Germany
What are the long-term drivers of Steel Scrap (Europe) prices?
Over the 1 Year horizon the outlook is bearish due to drivers such as: - Long term price trends - EWMA-based technical analysis Br(None) The top contrary drivers for the 1 Year horizon are: - The shape of the futures curve - Short term price trends - The net positions of speculators on the LME
Will the price of Steel Scrap (Europe) go up?
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