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    January 8, 2026

    January scrap market partially settles up $20-30

    Written by Stephen Miller

    The formation of the domestic scrap market for January shipments is underway and only partially settled as of this article’s publication. The main point of contention is the price of #1 busheling and bundles. The prices of shredded scrap and other secondary grades have generally been agreed upon, though it remains to be seen whether they will bring out enough supply to meet mill demand.

    Several mills and their internal scrap brokers have offered up $30 per gross ton for shredded, HMS, and P&S. These prices have been largely accepted by the trade in most regions. In some Midwestern districts, shredders want more than a $30/gt increase. What is unclear is whether dealers will sell their regular amounts at this price, given weather concerns, available shredder feed, and slower flows into their facilities. One of our sources has indicated the mills cannot buy enough shredded scrap. The trade will have to wait to determine if this is the case.   

    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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