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    Analysis

    July 7, 2026

    Miller on Exports: Global scrap market slips

    Written by Stephen Miller

    The scrap export market in both Europe and the US continued to decline after the activity of last week became confirmable. In Europe, Turkish steelmakers continued to selectively buy material at reduced prices. At this point it is hard to say where prices will bottom.

    There were two new cargoes concluded from the US by Turkey. One cargo of HMS 80/20 was transacted at a price of $373 per metric ton (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.

    Read more from Stephen Miller

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