US scrap export market loses steam

The export scrap market from both North America and Europe has quieted down over the last week.

The last Turkish-borne cargo sold from the US East Coast was at $375 per metric ton (mt) CFR for HMS 80/20 on Feb 13, sources said. The sale was made at this level even though the US scrap market settled at up $20-30 per gross ton (gt) for obsolescent grades. This price was only slightly under the last cargo done earlier in February. But during this time there were no reported sales from Europe.

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.

Stephen Miller

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