Global scrap steel export prices remained stable on a weekly basis, and cautious buying activity continues to keep the market in a volatile pattern.

　　As of the week ending February 27, the global black scrap steel export market showed mixed trends but remained generally stable. With buyers still adopting a cautious stance, U.S. prices remained firm, though sentiment has shifted toward conservatism; Europe maintained its resilience supported by tight supply and low steel mill inventories; the Brazilian market was broadly stable; while the UK and the UAE saw weaker trading activity, influenced by the upcoming Ramadan.
　　United States:
　　Market sentiment is becoming more cautious, with some participants believing that the recent rally may be nearing a temporary peak. As temperatures warm up, deliveries to material yards in March are expected to resume, easing the tight winter supply situation gradually and potentially shifting bargaining power back toward steel mills. In mid-February, prices in the Midwest and West rose by $28–30 per ton compared to the previous month. Scrap metal (busheling) was quoted at $450–455 per ton (delivered to plant) in the Midwest and Southeast; shredded scrap was priced at $445–450 per ton (delivered to plant) in both regions. Steel mill operating rates have rebounded to 78%.
　　On the export front, the overall situation remains stable. Market reports indicate that last week, deals were struck with Turkey at $375 per ton (CFR) for HMS 80:20 and $395 per ton (CFR) for shredded scrap. For Bangladesh, HMS 80:20 was quoted at $375 per ton (CFR Chattogram). However, overseas demand as a whole continues to remain weak. FOB (bulk cargo) assessments from the U.S. East Coast are as follows: HMS 80:20 at $346 per ton and shredded scrap at $366 per ton, both up by $1 per ton week-on-week. Regarding landed prices for U.S.-produced HMS 80:20 (bulk cargo): Turkey at $375 per ton (down $1 week-on-week), Vietnam at $359 per ton (up $4 week-on-week), and Bangladesh at $375 per ton (up $2 week-on-week). Market participants believe that, given the seasonal easing of supply and cautious export demand, there may be limited room for further price increases in the short term.
　　Europe:
　　The UK and European markets as a whole remain stable but trading activity is relatively subdued. Shipments arriving at yards are generally moderate, and demand from Turkey and South Asia remains cautious, limiting export activities. British-produced container shredder scrap was reported to have traded at USD 370–374 per ton (CFR Chennai). A bid for Pakistan was heard at USD 380 per ton, with buyers offering around USD 374–375 per ton; one transaction was completed at USD 377 per ton (CFR Qasim).
　　UK dock-delivery prices reported: HMS 80:20 at £215–£225 per tonne (approximately $290–$303 per tonne), and OA grade at £240–£250 per tonne (approximately $323–$337 per tonne). European Rotterdam FOB assessment: HMS 80:20 (bulk) at $341 per tonne, unchanged from the previous week.
　　Looking at prices by country, in Germany, prices rose in February amid constraints on recycling due to severe cold weather: E3 was quoted at €310–315 per ton (ex-factory), E40 at €315–320 per ton, and E8 at €320–330 per ton, representing a month-on-month increase of €5–10 per ton. In Italy, February prices rose month-on-month by €10–15 per ton: E3 was quoted at €330–340 per ton, E8 at €345–355 per ton, and E40 at €345–350 per ton (ex-factory). Market observers noted that in Germany, March prices are likely to remain stable amid weak steel demand; in Italy, however, prices are supported by robust domestic demand and insufficient supply arrivals, though without export-driven demand, further price increases will become increasingly difficult.
　　

Brazil:
　　Export prices remain unchanged, with HMS quoted at USD 285 per ton (FOB) and shredded scrap at USD 305 per ton (FOB). Both have cumulatively risen by USD 10 per ton since early February, largely supported by improved buying sentiment from India. Domestically in Brazil, scrap steel prices, after a moderate increase in early February, have stabilized. HMS 80:20 is now quoted at R$810–820 per ton (FOT, roughly USD 158–160 per ton), while turnings are quoted at R$730–740 per ton (FOT, roughly USD 142–144 per ton). New transactions remain limited.
　　Market Outlook:
　　In the short term, the global scrap steel export market is likely to continue trading in a sideways range. Improved supply from the U.S. may curb upward momentum; while Europe remains relatively resilient thanks to tight resource availability, weak steel demand limits further gains; Brazil is expected to maintain steady operations; and demand in the Middle East may gradually improve after Ramadan.
　　Market participants also noted that following the U.S. Supreme Court’s ruling on February 20 to eliminate the “country-based” tariffs, there is a greater likelihood that European scrap steel—offering more competitive prices—could flow more heavily into the U.S. However, against the backdrop of an overall increase in supply and the introduction of an additional 10% global tariff, U.S. domestic scrap steel prices could still face downward pressure going forward.