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    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.

    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.

    Read more from Stephen Miller

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