Global ferrous scrap markets entered June 2026 in a firm to bullish posture. The benchmark Turkish HMS 1/2 80:20 CFR price holds at $400-410/mt, supported by persistent supply tightness in the deep-sea market, elevated freight costs linked to Middle East geopolitical tensions, and structural demand growth from Electric Arc Furnace steelmaking expansion. EU CBAM implementation, safeguard policy expiry on June 30, and proposed scrap export restrictions represent material upside catalysts. US domestic scrap remains flat to slightly softer with #1 Heavy Melting at $364/net ton. This report analyzes supply-demand balance, policy risks, freight dynamics, and forward contracting strategy across three price scenarios.
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