This month we’re still seeing uncertainty surrounding trade tariffs which continue to cast a shadow over procurement strategies. Some consumers remain hesitant to commit to additional volumes, and overall confidence heading into Q3 is muted. Without a clear resolution on tariffs and market volatility, near-term strength appears unlikely on some of the commodities.

Steel:

The steel market has hopefully bottomed out with all grades moving sideways for June. While consumers were anticipating lower steel prices on shred and cut grades, some stronger buying programs across the Midwest steel mills helped to boost prices to remain the same as last month. This likely helped to absorb a portion of the overhanging scrap in the market. Seeing an increase in futures trading promises some hope for a stronger July market.

Non-ferrous: 

The US increasing aluminum and steel tariffs from 25% to 50% has created an international stir. The Midwest Premium jumped to record levels last week once the additional tariffs were determined, driving pricing to unprecedented heights. As a result, aluminum mills lowered their buying prices to offset the rapidly rising MWTP. Several UBC (Used Beverage Can) mills are full for June and July, with abundant supply and limited availability until at least August. Rest assured, being the largest UBC processor in North America, USM contracts allow us to continue to process and deliver all of our material as scheduled.

Copper spreads continued to widen the past week during some Comex swings and tepid domestic demand. Large copper scrap volumes are remaining in the US with consumers still not showing a real demand. There is a growing concern that copper may be next in line for an increased tariff and that  fallout that we’re seeing with aluminum. 

Stainless and Alloy:

LME Nickel continues to trade within a narrow range, yet demand has become increasingly insufficient. This weakening appetite has applied downward pressure on pricing, with notable discounts emerging across 304 and 316 stainless grades. Chrome stainless is similarly trending lower, driven by ongoing decline in iron values this month.

High-temperature alloys remain relatively stable, sustained by selective demand. However, market sentiment suggests that supply may soon outpace forecasts, particularly as consumers approach inventory thresholds.

Titanium grades continue to soften amid persistent demand weakness, compounded by a consistent influx of lower-cost Ferro Titanium, which is steadily accumulating in the market.

Tool Steel, High-Speed Steel, and Tungsten alloys remain firm. However, pricing may trend upward in the near term, as ongoing tariffs and constrained global flows tighten domestic supply and create upward pressure.

I’d like to share that once again we are ranked among North America’s 20 largest Non-ferrous recyclers in North America. Recycling Today has bestowed us with this honor consecutively since 2005. Thank you for your partnership and your choice to recycle responsibly with us! 

Click Here -Top 20 Non-Ferrous Recyclers Award-USM