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    October 21, 2026

    Scrap market players predict higher prices in November

    Written by Stephen Miller

    Scrap prices will probably rise in the US in November, market participants told SMU. It’s just a question of by how much.

    The expected gains next month come after an extended settlement period in October. Initial bids of up $10–20 per gross ton (gt) failed to attract enough scrap, and buyers eventually settled for prices up $20–30/gt. And several sources have indicated that a few mills had to pay even more to fill in their needs as the month has gone on.

    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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