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    Overseas

    June 30, 2025

    Miller on Raw Materials: Are more DRI investments coming to the US?

    Written by Stephen Miller

    Direct-reduced iron (DRI) investment in the US has often been a hot topic. So where are we with it today, and what does the future hold?

    DRI was introduced in the 1950s, and the scrap trade viewed it as a material to be substituted for ferrous scrap in scrap-short regions. In the years leading up to the mini-mill era in the 1990s and early 2000’s, scrap really had not increased in price, at least not to the levels of the last 20 years.

    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.

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