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    June 9, 2026

    Scrap export prices hold firm despite Turkish pressure

    Written by Stephen Miller

    The bulk deep-sea export market in the Atlantic Basin has not shown much movement lately. Buyers in Turkey have limited their activity in an attempt to bring prices down in both the US and Northern Europe. However, this does not seem to be working to a significant extent.

    SMU spoke with a scrap trader in the European market who expressed skepticism about Turkey’s strategy to reduce prices. He indicated offers by steelmakers in Turkey to suppliers in Northern Europe at $390 per metric ton CFR for HMS 80/20 have been turned down. Likewise, offers to US terminals at $395/mt have also been rejected. “Everyone knows they have to buy soon,” he added.

    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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