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    July 10, 2025

    US scrap tags sideways, but will tariffs on Brazil lift prices in August?

    Written by Ethan Bernard

    Ferrous scrap prices are flat for a second consecutive month, but tariffs on imports of Brazilian pig iron could change the game come August.

    As we reported earlier this week, the July scrap market settled flat from June. However, on Wednesday afternoon, President Trump announced a 50% tariff on imports from Brazil, which would include pig iron. This could shake up the market and send scrap prices up next month, according to sources, as EAF mills in the US often source pig iron from Brazil.

    Ethan Bernard

    Ethan Bernard is managing editor for Steel Market Update. He previously worked for American Metal Market as a copy editor in the New York office for two years, starting in 2008. Later, he copy edited AMM’s monthly magazine on a freelance basis from 2015 until 2017. With experience in financial copywriting and textbook publishing, he holds a BA in Comparative Literature from UC Berkeley, and an MFA in Creative Writing from New York University. He can be reached at ethan@steelmarketupdate.com or 724-759-7871.

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