Scrap prices poised for October increase, or later?

The scrap market for October is looking for direction as some participants on both sides of the furnace are indicating scrap prices are poised for an increase. However, it is debatable if any increase will occur as early as next month, despite increased fuel costs and a rising export market.

SMU spoke with a steel mill source who believes October will be a strong market based on mill demand.

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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