Markets correct faster than governments adapt.
The global eScrap trade has shifted. China’s role as the dominant price anchor is breaking. Slower GDP growth, collapsing demand for metals, and a choked recycling sector have forced buyers to pull back. Add U.S. tariffs and redirected flows, and the result is structural fragmentation. Prices are now set in segments, not from the center.
This isn’t a disruption—it’s a rebalancing. The spreads widening across Asia, Europe, and the U.S. aren’t anomalies. They’re the new model. Regional premiums, localized risk, and dynamic routing are here to stay.
The days of pricing based on China’s appetite are over. This is a win for independent markets, for disciplined traders, and for anyone ready to price on fundamentals—not forecasts.