This week, US ferrous scrap prices for June delivery in the Northeast settled sideways versus May prices, which were $30-40/gt ($30-41/mt) lower. Continued reports of high inventory and limited domestic demand were offset by reports of improved market sentiment in June following US President Donald Trump’s announcement on May 30 that he would double Section 232 steel and aluminum tariffs from 25 percent to 50 percent, effective June 4. In response, several US steel mills have announced price increases of between $20-$100/ton, effective today, June 9.
“We could see a sideways-to-higher in summer,” said one Midwest scrap insider. “Especially if these 50 percent tariffs stick around.”
US settled prices are below:
| US Northeast | June | May | Monthly Change |
| Delivered to customer | |||
| HMS I | $310-325/mt | $310-325/mt | Sideways to May |
| $305-320/gt | $305-320/gt | Sideways to May | |
| Shredded | $330-342/mt | $330-342/mt | Sideways to May |
| $325-335/gt | $325-335/gt | Sideways to May | |
| P&S | $300-310/mt | $300-310/mt | Sideways to May |
| $295-305/gt | $295-305/gt | Sideways to May | |
| Busheling | $387-407/mt | $387-407/mt | Sideways to May |
| $380-400/gt | $380-400/gt | Sideways to May |