The Bureau of International Recycling (BIR) reported a rare moment of stability in the global recycled steel market. The United States in particular, where supply and demand were in balance until mid-2025, experienced an unusually quiet high summer period.
US mills maintained strong order books and steady operations through the summer, but by early fall, hot-rolled coil prices had fallen below $800/nt ($ 882/mt) from levels around $900/nt ($992/mt). The decline pushed scrap prices lower, while weakening consumer confidence and slowing economic activity continued to weigh on demand.
Europe: Low orders and capacity cuts
In Germany, persistently low order volumes, especially in the construction sector, forced factories to reduce capacity utilization and scrap metal purchases. After a brief stability in August, recycled steel prices resumed their downward trend in the fall.
Scandinavia and the UK also reported lower inflows into shredders and weak collection volumes due to low margins and cautious buying behavior.
Asia: Divergent scrap demand trends
Across Asia, offshore recycled steel markets remain under pressure as steel exports from China have increased up 10 percent year-on-year to 77.49 million tonnes in the first eight months of 2025. While Beijing has vowed to phase out ineffective capabilities, enforcement has been inconsistent.
In South Korea, US tariffs and weak domestic demand
