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    Analysis

    December 2, 2025

    Scrap market sees early settlement signs in short holiday month

    Written by Stephen Miller

    There has been debate about the direction of the US scrap market for December. Some market participants believe some grades can increase in price, especially secondary grades. There were no market players who believed prices could go down.

    The market is still supply-driven, said a steel executive in the Central US. With winter weather already here, obsolete grades could see a tick upward, he explained. If these prices rise more than $20 per gross ton (gt), busheling could also rise to keep some spread over shredded. Noting December is another short shipping month, he predicted early settlements. 

    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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