In the first quarter of 2025, recycled steel observed three months of increasing prices. However, during the April purchasing period, U.S. steel mills paid $19 to $51 less per ton for benchmark grades compared to previous levels.
According to transaction data compiled by MSA Inc.’s Raw Material Data Aggregation Service (RMDAS) in Pittsburgh, prices declined across all three RMDAS regions for key scrap grades—No. 2 shredded scrap, No. 1 heavy melting steel (HMS), and the prompt industrial composite.
Reports show that the largest single loss of value hits the shredded scrap in the RMDAS North Midwest Region, dropping by $51 per ton in April as compared to the previous buying period. Shredded scrap prices fell by $38 or $39 per ton in two regions, driving an average decline of $43 per ton in April compared to early March in U.S.
The RMDAS prompt grades composite came closest to retaining its value in April, with mills paying an average of $21 less per ton in April compared with March. Meanwhile, No. 1 HMS fell by $30 per ton on average in the U.S.; all three RMDAS regions reported similar decreases for HMS from $29 to $32 per ton in price.
The North Midwest emerged as the weakest market for HMS during the March 21–April 20 assessment period, with mills there paying just $371 per ton, the lowest regional average in the country. The uniform price erosion across grades and regions suggests either softening mill demand or elevated scrap supply in the spring market. The declines follow a three-month upward trend in recycled steel values earlier in the year, marking a notable reversal as second-quarter buying began.
In the North Central/East RMDAS region, prompt industrial composite material held its value the best into April, with mills buying it at an average of $480 per ton in late March and early April.
Sources: recycling today