US ferrous scrap prices for August delivery in the US Ohio Valley and US Northeast settled sideways for a third straight month today following a July 31 decision by US President Trump to reverse a plan to implement 50 percent tariffs on Brazilian pig iron used in US steel production. The plan would have become effective August 1.
Prior to Trump’s reversal on pig iron tariffs, market insiders said August scrap prices could potentially settle strong sideways to higher as more US steel producers would likely need to buy more August scrap as a replacement for the Brazilian ore.
US settled prices are below:
| Ohio Valley | August | July | Monthly Change |
| Delivered to customer | |||
| HMS I | $330-351/gt | $330-351/gt | Sideways to July |
| $325-345/gt | $325-345/gt | Sideways to July | |
| Shredded | $381-387/mt | $381-387/mt | Sideways to July |
| $375-380/gt | $375-380/gt | Sideways to July | |
| P&S | $367-377/mt | $367-377/mt | Sideways to July |
| $361-371/gt | $361-371/gt | Sideways to July | |
| Busheling | $443-468/mt | $443-468/mt | Sideways to July |
| $435-460/gt | $435-460/gt | Sideways to July |
| US Northeast | August | July | Monthly Change |
| Delivered to customer | |||
| HMS I | $310-325/mt | $310-325/mt | Sideways to July |
| $305-320/gt | $305-320/gt | Sideways to July | |
| Shredded | $330-342/mt | $330-342/mt | Sideways to July |
| $325-335/gt | $325-335/gt | Sideways to July | |
| P&S | $300-310/mt | $300-310/mt | Sideways to July |
| $295-305/gt | $295-305/gt | Sideways to July | |
| Busheling | $387-407/mt | $387-407/mt | Sideways to July |
| $380-400/gt | $380-400/gt | Sideways to July |
