Why are Steel Scrap (Europe) Prices so high?
30-09-2026 - Over the past month, the price of steel scrap has experienced an upward trend, rising from $375.55/t to $393.5/t. This increase suggests a strengthening demand or a reduction in supply for this raw material. The forecast for steel scrap prices is $392.73/t, a slight decrease of $0.77/t or -0.2% from the current price of $393.5/t. This indicates a generally flat price trend, suggesting minimal risk of significant fluctuations in raw material costs.
Current forecasts indicate upward price pressure on raw materials, primarily influenced by Flows data and significantly impacted by Exchange Rates. However, this is balanced by Technical data suggesting downward pressure, reflecting a lack of consensus among different data types.
The forecast anticipates a decrease in LME Steel Scrap prices to $392.73/t in the coming month. This projection is consistent with external analyses, such as Fastmarkets' October 2023 report, which highlights a bearish sentiment in the U.S. ferrous scrap market. The report notes a drop in their Trend Indicator to 45.6 from 61.3 in September and predicts an average month-on-month price decrease of 3.1%. This decline is attributed to factors like falling U.S. hot-rolled coil prices and concerns over the United Auto Workers union strike. This external analysis supports the forecasted decline in LME Steel Scrap prices.
Current forecasts indicate upward price pressure on raw materials, primarily influenced by Flows data and significantly impacted by Exchange Rates. However, this is balanced by Technical data suggesting downward pressure, reflecting a lack of consensus among different data types.
The forecast anticipates a decrease in LME Steel Scrap prices to $392.73/t in the coming month. This projection is consistent with external analyses, such as Fastmarkets' October 2023 report, which highlights a bearish sentiment in the U.S. ferrous scrap market. The report notes a drop in their Trend Indicator to 45.6 from 61.3 in September and predicts an average month-on-month price decrease of 3.1%. This decline is attributed to factors like falling U.S. hot-rolled coil prices and concerns over the United Auto Workers union strike. This external analysis supports the forecasted decline in LME Steel Scrap prices.
What is the current / spot price of Steel Scrap (Europe)?
Steel Scrap (Europe) Price Today
September 30, 2026
Current Price
393.5
What is the forecast for the price of Steel Scrap (Europe)?
Steel Scrap (Europe) Price Forecast
September 30, 2026
1 Month Forecast
392.73
1 Year Forecast
372.32
What are the short-term drivers of Steel Scrap (Europe) prices?
Over the 1 Month horizon the outlook is moderately bearish due to drivers such as: - EWMA-based technical analysis - Coke exports from China - The shape of the futures curve (adjusted for the risk free rate and price volatility) Br(None) The top contrary drivers for the 1 Month horizon are: - The net positions of speculators on the LME - Movements in the Euro
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: - The shape of the futures curve - Long term price trends - Movements in the Chinese Yuan - EWMA-based technical analysis Br(None) The top contrary drivers for the 1 Year horizon are: - The shape of the futures curve
Will the price of Steel Scrap (Europe) go up?
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