November Scrap Tags Seen Mostly Sideways, Sources Say

As the ferrous scrap market in the US enters the home stretch for 2023, it faces an array of issues and uncertainties. This has made predictions of its potential movement a point of debate between buyers and sellers.

The market has been drifting downwards in price for the last several months and this has reduced flows of obsolete grades. To aggravate this situation, the market is entering seasonal slowing as winter approaches. Prime grades are less plentiful now that the United Auto Workers (UAW) strike has had, or will have in the neat future, an effect on the amount of automotive material generated by the “Big Three” automakers.

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.