The global ferrous scrap market recorded mixed price movements in February 2026, with prices rising in Europe and China while declining slightly in Turkey and the United States.
Despite these fluctuations, scrap prices across major markets remain higher than at the end of 2025.
Turkey
In Turkey, HMS 1&2 (80:20) scrap prices declined by 0.6% between February 6 and March 6, reaching $373.1 per ton CFR.
Turkish steelmakers reduced purchases due to weak rebar demand, high inventory levels, and financial pressure during Ramadan. However, further price declines were limited by tight supply from Europe and the United States, higher freight rates, and adverse weather conditions affecting scrap collection.
European Union
In the EU, scrap prices continued to rise. Germany’s E3 scrap prices increased by 5.3% to around €300 per ton ex-works, while Italian prices reached approximately €330 per ton, up 1.5% from January.
The upward trend was driven primarily by limited scrap availability, winter weather disruptions, and steady demand from steel producers.
United States
On the US East Coast, HMS 1/2 (80:20) scrap prices fell by 2.2% in February to around $333 per ton FOB, although prices remain 1.1% higher than at the end of 2025.
Market conditions were largely influenced by winter storms that initially restricted supply, followed by weaker export demand and resistance from Turkish buyers to higher prices.
China
In China, scrap prices increased moderately. Domestic scrap prices rose by 1.1% to about $349.2 per ton, while imported scrap prices increased by 2.2% to around $347.5 per ton CFR.
The increase was supported by the gradual restart of steel production after the holiday period and expectations of stronger demand from electric arc furnace mills.
However, further price growth remains limited due to weak recovery in construction activity and subdued demand for finished steel products.
VietnamSteel by Hoa Sen Group
