Singapore, August 5. Benchmark ferrous scrap prices monitored by Platts experienced dramatic month-on-month swings during July and early August 2026. Initial sharp price increases were followed by partial corrections as market fundamentals shifted. Tighter cross-border scrap flows, stricter environmental inspections in major scrap-supplying regions, and rising carbon-cost burdens under the EU CBAM mechanism collectively pushed raw-material costs higher for electric-arc furnace steelmakers. Steel enterprises located in Turkey and South Korea implemented multiple rounds of finished-product price hikes to pass on elevated scrap-related costs to downstream buyers. Later in July, scrap prices cooled slightly as summer maintenance outages reduced mill purchasing activity across Europe. Industry participants noted that high-quality scrap with complete carbon-traceability documentation commands a clear price premium. Market forecasts indicate scrap prices will stay volatile through Q3 2026. Many short-cycle steel mills in Asia are facing squeezed profit margins, caught between high raw-material expenses and limited room for further steel-product price increases amid soft end-user demand.