Will October be the 'last scrap shopping month before Christmas'?

The US scrap market has been in a steady decline for the first nine months of this year. As we enter Q4, there seems to be scant hope things will change in October. However, some players are seeing a bit of light after this month, depending on steelmaker appetite for scrap.

RMU contacted a scrap executive in the Chicago district who supervises several Midwestern facilities. He humorously said, “October will be the last scrap shopping month before Christmas.”

Ferrous Scrap

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.

Stephen Miller

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