Turkish scrap export market begins to take shape

The bulk scrap export market into Turkey is starting to form after several weeks of inactivity.

Ramadan ended yesterday and announcements of purchases are just starting to roll in. For the most part, buying prices are up approximately $20 per metric ton (mt) from the low of $363.50/mt CFR at the start of the month. The low price from the US was $374/mt CFR and future US-origin cargoes are expected to price above $390/mt CFR.

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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