Crazy that January is already ¾ of the way over!
The year has definitely been quite the turbulent ride so far in the scrap world. Copper, nickel and aluminum have been on a rollercoaster for many months and 2026 has continued that trend. COMEX & Nickel markets have had wild swings up and down 10-20% at times.
These fluctuations are purely based on speculative trading and the seemingly never-ending trade-tariff issues. It makes the mills both domestic and overseas extremely hesitant to buy material over any great length of time. No one wants to get stuck on the high price point of the market.
Steel has been relatively flat over the last 3-4 months. Demand domestic and overseas has been steady and the shipping rates with the cost of oil dropping have been a nice bonus in recent weeks.
I think the market will continue the trend through the first half of 2026. It does not seem the tariff fears or threats will be much different and the constant back and forth will continue to spook the market.
If you have any questions please don’t hesitate to contact us.
ARTICLE: https://www.fastmarkets.com/insights/us-scrap-trends-outlook-january-2026