Where to find live Scrap prices
Primary sources onlyTSM does not display real-time Scrap quotes on this page — instead, we link directly to the regulated exchanges and benchmark price-reporting agencies (PRAs) that produce the actual numbers. One True Source for All: where the data originates, that is where you should read it.
- Cleared futuresLME Steel Scrap CFR Turkey (Platts) — cleared futures ↗
- Cleared futuresCME Group — US HMS / busheling Midwest futures ↗
- Benchmark administrator (PRA)Fastmarkets / American Metal Market (AMM) — busheling Midwest ↗
- Benchmark administrator (PRA)Platts — CFR Turkey HMS 1/2 80:20 ↗
- Benchmark administrator (PRA)Argus Metals — regional scrap assessments ↗
- Industry associationBureau of International Recycling (BIR) — world recycled-steel statistics ↗
Exchange access is free for delayed prices on most LME/SHFE/CME pages; live tick-by-tick data and PRA assessments are paid subscriptions sold by the exchange or by Fastmarkets / Argus / S&P Global Platts directly. See TSM Sources methodology for the full source tiering.
About Ferrous Scrap
Editorial · sourcedWhat is ferrous scrap?
Ferrous scrap is steel and iron recovered from end-of-life products, manufacturing offcuts, demolition and home-scrap (re-melt scrap generated inside a steel mill itself). Standardised grades include heavy melting scrap (HMS 1 and HMS 2), shredded auto scrap, busheling (clean factory offcuts), plate-and-structural (P&S), and bundles. Steel is the most recycled material on Earth by mass — per USGS Mineral Commodity Summaries 2026 — Iron and Steel Scrap, the overall US recycling rate has been 80-90% over the past decade. Recycling rates by end-use: structural steel 97%, autos ~100%, appliances 78%, construction end-uses 74%, steel containers 62%.
How scrap is priced
The global seaborne benchmark is the LME Steel Scrap CFR Turkey (Platts) cash-settled futures contract — Turkey is the world's #1 scrap importer, and the Platts CFR Turkey HMS 1/2 80:20 assessment is the underlying. Domestic US prices use the AMM busheling Midwest assessment from Fastmarkets / American Metal Market, settled monthly between mills and brokers; CME also lists a busheling Midwest futures contract. Platts and Argus publish parallel European, Asian and Indian regional scrap assessments. Scrap value is the floor for EAF mill economics globally.
Where scrap comes from
Scrap supply is structurally tied to the installed stock of steel (the steel-in-use) in each economy. Per USGS MCS 2026 Iron-Steel Scrap, US apparent scrap consumption in 2025 was ~57 Mt, sourced 89% from net market receipts and 11% from home (mill-internal) scrap. The US is also a large net scrap exporter — first 8 months 2025 export shares: Turkey 29%, Bangladesh 13%, India 10%. Other top global scrap exporters: EU (Netherlands hub, Germany), Russia, Canada, Mexico. Top global importers: Turkey, India, Indonesia, South Korea, Vietnam, Pakistan, Egypt. China is now a net scrap exporter as domestic post-consumer scrap rises.
Who produces scrap
Scrap is not "produced" in the traditional sense — it is collected, sorted, sheared, shredded, baled and traded. The largest scrap-processing groups globally:
- United States: Sims Metal Management, Commercial Metals Company (CMC), SMS, Schnitzer Steel (Radius Recycling), OmniSource (Steel Dynamics), Nucor internal scrap (via The David J. Joseph Co.).
- Europe: Scholz Recycling (Germany), Derichebourg (France), Eldan (Denmark).
- Global trading houses: Trafigura, Glencore.
What scrap is used for
Ferrous scrap feeds two main routes:
- Electric-arc-furnace (EAF) steelmaking — charge is typically 80-100% scrap (vs ~30% scrap in a BF-BOF). EAF mills produce ~70% of US steel and growing shares in EU and Turkey. Per USGS, the US has 47 EAF companies operating 102 minimills.
- BF-BOF cooling charge — integrated mills add 15-30% scrap to the BOF for thermal balance.
- Foundry castings — grey iron and ductile-iron castings use a high-scrap charge.
Key facts about scrap supply
- Scrap availability is a function of stock-of-use accumulated over decades — mature economies (USA, EU, Japan) are structurally scrap-rich; rapidly-industrialising economies (India, ASEAN) are structurally scrap-short and must import.
- EU CBAM imposes carbon costs on imported semi-finished steel from January 2026 — EAF scrap-route steel benefits from the lowest embedded-CO₂ footprint among major steelmaking processes.
- Reserves: not applicable. Scrap is a recycled stream, not a mineral reserve. The relevant statistic is global stock-in-use, currently estimated at ~33 Gt of steel by the World Steel Association.