US domestic scrap prices, which have been increasing since early this year, are unlikely to see further gains in April trading. Market participants anticipate a soft to sideways trend due to improved scrap supply from milder weather and stagnant hot rolled coil demand linked to tariff uncertainties. The Southeast faces stronger pressures compared to the Midwest as supply conditions eased faster there, along with bearish sentiment in TĂĽrkiye, a key export market.
On the East Coast, Turkish mills’ demand for US-origin scrap has weakened, impacted by political and economic instability following recent events in Türkiye. The latest confirmed US-origin deal was $381/tonne cfr Türkiye for HMS 1&2 80:20, but new offers at $383-385/tonne remain unappealing amid the current uncertainty. Some US mills have also begun lowering their scrap bids.
