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    scrap

    February 5, 2026

    US scrap market mostly settles up $20-30 for February

    Written by Stephen Miller

    The US domestic scrap market is largely settled on February pricing. Despite poor weather conditions that have been wreaking havoc on scrap flows and deliveries to consumers, the pricing initially agreed between dealers and steelmakers has been fairly conservative. Sources have reported to SMU there are logistical problems with trucking and barge shipments, and it remains to be seen if these scrap prices can bring out enough scrap to satisfy relatively heavy demand.

    Several sources across districts report February prices are generally up $30 per gross ton (gt) across the board compared with January tags. Some buyers dipped their toes into the market at only up $20/gt. This was quite surprising since the scrap industry has been facing the worst weather conditions in several years. Most dealers ignored the slight, countered with a plus $30 offer, and concluded.

    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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