All American Recycling – Market update February 2025
Ferrous Market
After a modest uptick in January, Chicago’s ferrous scrap metal market gained significant momentum in February, driven by rising prices and growing demand. Consensus among market participants was that there was limited upside potential for February price increases, but domestic mills find themselves in competition with one another for available February scrap resulting in the first significant price increases in 14 months.
Non-Ferrous Market
Copper, aluminum, and nickel were relatively quiet for the third straight month as the scrap markets continued to look for clarity concerning the potential effects of the tariffs and retaliatory tariffs.
Asian buyers have digested the tariff issues and aggressively returned to the marketplace for bare copper units. Demand for red and yellow brasses remains good.
Demand for secondary aluminum scrap has improved slightly but prices are still stagnant.
Stainless steel prices continue weak amid concerns over potential supply chain issues and uncertainty over tariffs for China. Domestic mill demand for 300 series stainless steel remains poor and the export market is almost non-existent at this time.
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