Ferrous Scrap

September scrap buying underway, busheling down

September 5, 2025

The scrap market in the US for September shipment has started to settle, with busheling seen down so far.

After three consecutive months of sideways movement, the string has been broken, with some downward movement in prime scrap.

SMU learned an EAF producer with multiple locations entered the market paying down $20 per gross ton (gt) for #1 busheling, while leaving HMS, shredded, and other obsolescent grades sideways.

Sources have said this buyer attempted to procure shredded scrap at down money but could not buy enough and went sideways thereafter.

Shortly after this, most mills fell into place at the same levels: busheling -$20/gt and shredded/HMS sideways.

One of the larger buyers, however, is said to be still attempting to take shredded down $20/gt. It is unclear if this move will be successful.

Stephen Miller

Stephen Miller started his career in the scrap metal industry in 1978 at Luria Brothers in Cleveland. Over the last 40+ 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.