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    January 22, 2025

    Ferrous scrap tags seen up in February despite weather, other woes

    Written by Stephen Miller

    The US scrap market for February has a lot of moving parts that need to mesh before an accurate picture can emerge. However, the general opinion for next month is an increase of at least $20 per gross ton (gt), according to sources contacted by SMU.

    Among the issues are winter weather decreasing scrap flows, tariff impositions on Mexico and Canada, weak export markets, and poor demand for finished steel. In addition to this situational backdrop, though, US mills are looking to buy scrap in February.

    Stephen Miller

    Stephen Miller started his career in the scrap metal industry in 1978 at Luria Brothers in Cleveland. Over the last 40-plus years, he has worked in all capacities in the trading business. He has had positions in both domestic and international scrap trading. In addition to scrap, Miller was at the forefront of the pig iron trade and established a pig iron distribution company under the name of Ferrosource, Inc. Most recently, Miller has concentrated on the scrap export market and regularly does consulting for several companies in the industry.

    Read more from Stephen Miller

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