Iron and steel scrap prices in the United State stood at around 325 U.S. dollars per metric ton in 2024. The majority of domestic steel industry scrap consumption is from manufacturers of raw steel, and steel castings. These raw materials are used to produce steel products that are used for appliances, construction, machinery, and transportation, among various other industry uses. Only small amounts of steel scrap were used for the production of ferroalloys, copper precipitation, and the chemical industry. Recycling scrap Recycled iron and steel scrap materials have been essential for the production of new steel and cast iron products. Vehicles are one of the largest sources of old steel scrap used for recycling and nearly 100 percent of cars are recycled for their scrap material. It is expected that the recycling rate for scrap materials from appliances and construction purposes should rise, especially as public interest for recycling grows and profitability increases.

Graph and download economic data for Producer Price Index by Commodity: Metals and Metal Products: Cast Iron Scrap (WPU10121308) from Jan 2004 to Feb 2025 about iron, metals, commodities, PPI, inflation, price index, indexes, price, and USA.

This statistic shows steel scrap prices worldwide between the 2013 and 2016 calendar years, and gives a forecast through 2021. In 2018, it is expected that the price of steel scrap will come to around 197 U.S. dollars per metric ton.

In the fourth quarter of 2023, the price of the iron scrap in the United States reached 335 USD/MT by December. Similarly, in China, the iron scrap prices hit 411 USD/MT in the same month.

United States - Producer Price Index by Commodity: Metals and Metal Products: Shredded Carbon Steel Scrap was 267.88000 Index Jun 1996=100 in February of 2025, according to the United States Federal Reserve. Historically, United States - Producer Price Index by Commodity: Metals and Metal Products: Shredded Carbon Steel Scrap reached a record high of 375.23600 in April of 2022 and a record low of 56.10000 in November of 2001. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Producer Price Index by Commodity: Metals and Metal Products: Shredded Carbon Steel Scrap - last updated from the United States Federal Reserve on March of 2025.

In 2023, China saw the recycling of over 666 billion yuan worth of scrap metal, the highest value among recycled materials. Steel and aluminum are the most recycled materials in the world because they can be reused multiple times. In contrast, despite the high prevalence of batteries in the economy, only 610 thousand metric tons of batteries had been recycled in 2023.

In the fiscal year 2023, the average market price of iron and steel scrap delivered in Japan was around 46.91 thousand Japanese yen per metric ton. This was a decrease compared to the preceding year.

Discover the many factors that impact the price of extruded aluminum scrap metal, from market demand and production costs to geopolitical events and economic conditions. Get insights into specific pricing and learn how to stay up-to-date on current market conditions.

Learn about the factors that impact the price of scrap metal cans, from market demand to purity and type of metal. Get insights into the current scrap metal market trends and tips for selling your scrap metal cans.

Learn about the three main factors that impact scrap metal prices, including market demand, supply, and global economic conditions. Discover the varying prices of common scrap metals in the US market and understand how other factors can affect these prices.

Graph and download economic data for Producer Price Index by Commodity: Metals and Metal Products: Carbon Steel Scrap (WPS101211) from Jan 1997 to Feb 2025 about steel, metals, commodities, PPI, inflation, price index, indexes, price, and USA.

Learn how scrap metal prices vary for materials like steel, aluminum, and copper in cars, influenced by market demand and geopolitical factors. Discover tips on finding current rates at local scrap yards, utilizing online resources, and maximizing value from catalytic converters with precious metals.

China Transaction Price: 36 City Avg: Scrap Steel: Heavy Scrap 2 data was reported at 2,418.930 RMB/Ton in Jan 2025. This records a decrease from the previous number of 2,474.650 RMB/Ton for Dec 2024. China Transaction Price: 36 City Avg: Scrap Steel: Heavy Scrap 2 data is updated monthly, averaging 2,616.000 RMB/Ton from Apr 2008 (Median) to Jan 2025, with 202 observations. The data reached an all-time high of 3,871.000 RMB/Ton in Jun 2008 and a record low of 984.000 RMB/Ton in Jan 2016. China Transaction Price: 36 City Avg: Scrap Steel: Heavy Scrap 2 data remains active status in CEIC and is reported by Price Monitoring Center, NDRC. The data is categorized under China Premium Database’s Price – Table CN.PA: Price Monitoring Center, NDRC: Transaction Price: Production Material: Steel.

United States - Producer Price Index by Commodity: Metals and Metal Products: Iron and Steel Scrap was 601.79000 Index 1982=100 in February of 2025, according to the United States Federal Reserve. Historically, United States - Producer Price Index by Commodity: Metals and Metal Products: Iron and Steel Scrap reached a record high of 859.24200 in April of 2022 and a record low of 33.30000 in July of 1949. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Producer Price Index by Commodity: Metals and Metal Products: Iron and Steel Scrap - last updated from the United States Federal Reserve on March of 2025.

This statistic shows the U.S. Bureau of Labor Statistics' producer price index for iron and steel scrap in the United States from 1990 to 2010. In 2001, the index was 120, compared to 100 in 1982, which was used as the base year.

United States - Producer Price Index by Commodity: Metals and Metal Products: Carbon Steel Scrap Bundles was 287.43400 Index Jun 1996=100 in February of 2025, according to the United States Federal Reserve. Historically, United States - Producer Price Index by Commodity: Metals and Metal Products: Carbon Steel Scrap Bundles reached a record high of 522.80000 in July of 2008 and a record low of 54.80000 in November of 2001. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Producer Price Index by Commodity: Metals and Metal Products: Carbon Steel Scrap Bundles - last updated from the United States Federal Reserve on March of 2025.

In 2021, iron and steel recycling in the U.S. stood at nearly 20 billion U.S. dollars, a year-over-year increase of over 90 percent. This increase was mainly associated with iron and steel scrap prices nearly doubling in the period. At over 400 U.S. dollars per metric ton, it was the highest price recorded in at least a decade.

Turkey is by far the largest importer of steel scrap in the world, with approximately 21 million metric tons of steel scrap imported in 2022. It dwarfed all other main steel scrap importing countries, with India coming in second at around 8.37 million metric tons of imports of the metal. Steel is one of the most widely recycled materials in the world.

Benefits of recycling Many regions incentivize recycling, as it improves energy efficiency and reduces pollution. Although the price of steel scrap is strongly influenced by the price of iron ore, it has become financially viable to bring electric arc furnaces on line and make new products from recycled steel. The European Union was the area with the highest growth in steel scrap imports between 2020 and 2021, reaching an increase of some 31 percent, while Turkish steel scrap imports rose by 11 percent. Overall, the 2021 results were more optimistic compared to the previous year, when steel scrap imports slowed down worldwide.

Turkish prominence Steel production is among Turkey’s largest industries, and the country is home to one of the largest steel mining companies in Europe, Ereğli Demir ve Çelik. The steel industry in Turkey has recently come under pressure due to higher prices. Rising costs came as a result of steel tariffs and higher energy prices. Despite these external factors, Turkey’s steel scrap consumption reached almost 30.2 million metric tons in 2022. Its crude steel production was also on the rise by around 13 percent. Turkish total steel exports were over 18 million in 2022, with the European Union being their main destination area.

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With around 17.6 million metric tons exported, the European Union was the leading exporter of steel scraps in 2022. Its exports declined by some nine percent compared to 2021. The United States, which came second in the ranking, recorded an export volume of 17.5 million metric tons of steel scrap in that period.

Benefits of steel use

Steel is one of the most extensively applied materials in the construction sector and in the manufacture of transportation equipment. Increased demand from companies in these industries continues to drive prices higher. Therefore, steel is simply too lucrative to be allowed to go to waste. As with many metals, the commodity can be recycled and reused. In order to cut costs, the steel industry has taken to collecting scrap from waste streams, wrecked automobiles, dismantled buildings, or other industrial sources, after which it is melted into new products. The use of recycled materials also provides environmental benefits such as energy savings and a reduced amount of materials in the municipal solid waste stream. In the United States, more than 90 percent of recycled metals are, in fact, steel.

The United States market The United States was ranked as the second largest steel scrap exporter in 2022. The country had a steel scrap consumption of around 56.6 million metric tons that year, with its crude steel production reaching just under 80.5 million metric tons. The largest share of U.S. steel exports went to Turkey, amounting to approximately 3.5 million metric tons. With steel scrap imports of about 21 million metric tons, Turkey was the leading steel scrap importing country worldwide.