The scrap metal market has had a relatively quiet summer so far — but not without a few twists. After two months of steady steel scrap prices in June and July, suppliers were hopeful for a price increase in August. Unfortunately, that hope faded on August 5th when the U.S. administration decided not to impose a 50% tariff on Brazilian pig iron.
With steel demand already sluggish and prices under pressure, this decision helped lock August’s domestic steel scrap prices in place — no change across all grades nationwide.
Despite these challenges, the U.S. economy has proven to be surprisingly resilient in recent years. That means a turnaround is always possible — but the short-term outlook remains cautious.
Copper prices spiked to $5.91/lb on July 23 before dropping sharply, ending up in the low $4.00/lb range by early August. This drop followed a large pricing gap between U.S. (Comex) and international (LME) copper markets. Experts expect this imbalance to settle by early September.
Aluminum has been one of the brighter spots, with prices increasing over the past month. That said, summer slowdowns and mill maintenance outages are limiting demand. Still, certain alloys and extrusion scrap have seen upward price movement.
Nickel prices have been relatively steady, with only minor decreases. Stainless steel scrap demand remains soft due to seasonal slowdowns and weak overseas markets. However, slower scrap flows have kept prices from falling.
If you’re selling scrap in August, expect:
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