Ferrous Scrap

September scrap buying underway, busheling down
Written by Stephen Miller
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
Read more from Stephen MillerLatest in Ferrous Scrap

Miller on Scrap: Analyzing the November market from different angles
Since the October prices came out there have been a variety of speculative opinions on what the November looks like from several sources SMU regularly contacts.

Busheling and shredded tags drop, widening HRC vs. prime scrap spread
US scrap prices fell on busheling and shredded in October, while HMS remained flat, market sources told SMU.

Obsolete scrap pinned by freight and weak export flows
here has been considerable activity in the export scrap market in the Mediterranean Basin over the last 10 days. Prices have inched up after recovering from a brief dip in September. Prices range from...

Mixed bids, outages, and full inventories cloud October scrap settlement
Stephen Miller reports the US domestic scrap market is on the verge of setting prices for October, although wide-scale buying is still in progress.

IIMA meeting: Decarbonization to drive demand for scrap, DRI
In the Americas, the ongoing conversion to EAF melting is driving demand for prime grades of scrap and increased use of ore-based metallics