Miller on Scrap: After strong first half for market, where will July land?

After the domestic scrap market wrapped up the first half of the year on a positive note, will July follow suit?

Quite frankly, the market thus far has been surprisingly favorable for the scrap community. The scrap market in the Detroit area started the year with December busheling at $405 per gross ton (gt) after a $15 bump over November prices. Meanwhile, the price of shredded in December rose $25/gt from November.

Raw Materials

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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