Scrap metal in the U.S. moves fast, like a restless magnet. In 2024, prices for steel, copper, aluminum, and other metals responded to supply wobblings, shifting demand, and even tariff tremors. Lets untangle the dataand show how ScrapTrade turns market complexity into opportunity.
Market Mood: Ferrous Metals in 2024
The mood among U.S. ferrous scrap traders turned cautiously pessimistic around mid-2024Fastmarkets reported a bearish trend indicator of 41.7 in July, signaling falling prices driven by low demand and thin inventories Fastmarkets.
Still, by December, sentiment began to perk up. Market participants saw a stable backdrop with a mild bullish glimmer at a 0.8% expected price increase Fastmarkets.
On the ground, reporting from Recycling Today in early 2025 suggests recycled steel prices stayed resilientsome U.S. mills were even paying more per ton to restock as collections lagged behind demand Recycling Today.
Price Basics: What Did 2024 Look Like by the Numbers?
Exact averages from U.S. sources are scarce, but a reliable international benchmarkMetaloopshows indicative 2025 figures that reflect late-2024 momentum:
- Aluminum: ~$2,006 per ton
- Copper: ~$9,315 per ton
- Brass: ~$5,600 per ton
- Stainless Steel: ~$1,863 per ton
- Iron & Steel: ~$276 per ton
- Lead: ~$1,334 per ton
Metaloop
These dont split out 2024 by month, but give context: copper and brass commanded strong prices, while ferrous steel stayed modest.
Regional Nuance & Scrap Dynamics
- Midwest as the U.S. benchmark: Typical U.S. HMS 1/2 (i.e., heavy melting steel) prices averaged around $285/ton, with coastal areas often offering more, thanks to export pathwaysuntil export demand weakened Discovery Alert.
- Supply chain quirks: Weather and disrupting railway labor issues made supply tighter. Mills often had to pay premium prices in spring 2025 to secure sufficient recycled steel Recycling Today.
Think Bigger: Whats Driving These Price Swings?
- Demand vs. inventory: July 2024s bearish sentiment was rooted in weak demand, but inventories remained healthy. Come winter, tighter collections made steel scarcer FastmarketsRecycling Today.
- Tariffs and global shifts: While 2024 didnt yet see the ripple effects of later tariffs, trade policy uncertainty stayed on traders’ minds.
- Copper stays electric: The red metal resisted decline thanks to demand for infrastructure, EVs, and renewable energy. Recycling became part of the solutionnot just for supply, but for energy-efficient production The Wall Street Journal.
Why ScrapTrade Matters Amid Market Flux
Numbers are one thing, action is another. Here’s how ScrapTrade helps you navigate:
- Live Price Visibility Know what copper, aluminum, steel, and more fetch today.
- Verified Buyers Tap competition, not guesswork.
- Secure Escrow Payments Get paid once scrap is received.
- Hassle-Free Logistics No time wasted on moving bulky loads.
- Smarter Timing Avoid selling into valleys; watch for rebounds like that late-2024 stabilization.
Final Thought: 2024 Was a Lesson in Market Fluidity
Prices fell, hopes rose, and steel sellers balanced supply scarcity with caution. Meanwhile, copper and aluminum reflected their strategic role in shaping (and fueling) a greener future.
If you’re in the business of transforming scrap into value, navigating uncertain markets is the name of the game. ScrapTrade gives that edge of clarity and confidence, even when the markets spins feel dizzying.
