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    Analysis

    January 2, 2026

    Winter weather a factor as scrap market debates January pricing

    Written by Stephen Miller

    As the new year begins, steelmakers in the US are optimistic about their prospects in 2026. They feel Section 232 tariffs will start to work for them. Prices for both long and flat products have been raised. So, the mills have gotten their price. What does this mean for their primary raw material, ferrous scrap?

    It may be safe to say the scrap industry has seen scant benefits from the 232 tariffs on steel imports, either 25% or 50%. Over the last three years, prices for ferrous scrap have risen briefly during the winter months. Prices then began their yearlong descent into the late fourth quarter, before jumping sharply ($80-100 per gross ton) and then dying down as the process repeats.

    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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