Iron and steel scrap prices in the U.S. 2010-2024
Iron and steel scrap prices in the United States stood at around 325 U.S. dollars per metric ton in 2024, down from 339 dollars per ton a year earlier. This is the fourth consecutive annual decrease recorded.
Steel scrap consumption
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 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.
