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Here are the key takeaways from market participants on US ferrous scrap metal prices, market confidence, inventory and more from our November 2026 survey.
November 4, 2026
Strong Price Increases Expected Amid Higher Demand
US scrap market participants anticipate a significant increase in prices in November, with the Trend Indicator reaching 70.6, pointing to a forecasted month-on-month rise of 7.1%. This follows a 4.8% increase in the previous month, suggesting further upward momentum in the market.
Read on for some highlights from our US ferrous scrap market survey for November 2026 or click here to download your copy of the full US scrap trends outlook.
Modeling allows for an average month-on-month price increase
Sentiment is bullish across all market participants, particularly sellers, whose Trend Indicator stands at 75.0, compared with 70.0 for buyers and 66.7 for brokers. The consensus indicator of 77 also suggests a relatively high level of disagreement among respondents regarding the market outlook.
查看配图Higher demand is being offset by increased scrap imports.
Survey participant
Mixed market sentiment
Higher demand is identified as the main driver of expected price increases. Strong mill order books and rising hot-rolled coil (HRC) prices are supporting scrap demand, while some mills are bringing forward purchases to anticipate potential price increases in the first quarter of 2027.
On the supply side, weak inbound scrap flows and suppliers holding back material are contributing to tighter market conditions. The Inventory Indicator stands at 42.6, suggesting below-average stock levels, further supporting upward price pressure.
Overall, the combination of robust demand, constrained supply and seasonal purchasing patterns points to a strongly bullish outlook for November.