RMU survey: Ferrous prices could decline, non-ferrous flat to a slight uptick for March

The ferrous scrap market is expecting prices to decline in the near term, while non-ferrous prices stay flat or could see a small uptick during the month of March.

That’s according to a monthly survey by Recycled Metals Update that polled dealers and processors, traders, mills and other segments of the sector.

To see the full results, click here.

On the ferrous side, about 77% of respondents said they think prices will fall during March. But prices could reverse three months from now – about 44% of survey participants think prices will be flat, while 37% expect an increase.

For non-ferrous, about half of respondents expect prices to stay flat in March. Another 33% are predicting a rally. Among those respondents, about 50% of traders/brokers said they expect prices to see little up or down movement in the next three-to-six months.

From the February survey, a look at the near-term direction of scrap prices

Respondents across the board largely reported that demand for their products has been positive, with 56% seeing stable demand and 32% seeing an upswing.