[SMM Iron & Steel] Global Scrap Metal Prices Rise Amid Energy and Logistics Surges

Published: Apr 1, 2026 11:57

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Global scrap metal prices experienced a predominantly upward trend in mid-March 2026, with the most significant increases recorded in Turkey and the United States. In Turkey, HMS 1&2 80:20 scrap prices rose by 3.9% between late February and late March, reaching $388.3 per tonne, the highest level since mid-2024. The price surge is primarily driven by a domestic supply shortage and rising freight rates linked to Middle East instability, forcing electric arc furnace operators to absorb higher costs as high-grade alternatives like Asian billets become increasingly scarce.

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