Product
July 24, 2025
August scrap price direction unclear on 'reciprocal' tariff uncertainty
Written by Stephen Miller
The August domestic scrap market has yielded few hints about its direction. Most market players are hedging their forecasts until tariffs rates on imported raw materials are clear. Even then, some are positing that the August market will trade sideways.
Recall that Section 232 tariffs of 50% apply to both finished and semi-finished steel. Raw materials such as pig iron and pellets don’t fall under Section 232.
