Continuing Iron Age's Century-Long Tradition

Chicago scrap metal prices

October 15, 2018

Chicago has been a major player in the iron and steel industry since prior to the Civil War. Through the years it has been a leader through the rise and fall of the metals industry and still is a highly watched market today to predict new trends.

Pricing in Chicago is assessed as a delivered to consumer market for 21 steel and iron scrap grades and 3 grades of stainless steel with historical prices online dating back to 1995.

Scrap Price Bulletin offers pricing and trends on the following metals in the Chicago market: no. 1 heavy melting, no. 2 heavy melting, no. 1 dealer bundles, no. 2 bundles, no. 1 busheling, shredded scrap, machine shop turnings, cast iron borings, cast iron borings (foundry), plate and structurals 5 ft. and under, plate and structurals low alloy 2 ft. and under, low-residual black foundry busheling, low-residual ductile-quality shredded clips, low-alloy punchings, scrap rails random length (del to dealers yards), reroller rails, rails 2 ft. and under, no. 1 machinery cast, clean auto cast, cupola cast, stove plate, steel car wheels, 18-8 bundles and solids, 18-8 turnings, and 430 bundles and solids

Fastmarkets SPB publishes more than 50 steel and iron scrap price grades and reports on 18 major North American ferrous scrap markets.  Click here to visit the about our prices page or to find additional steel scrap terms, visit the glossary page.

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Subscribers benefit from regional scrap prices for Birmingham, Boston, Buffalo, Chicago, Cincinnati, Cleveland, Detroit, Hamilton, ON, Houston, Los Angeles, New York, Philadelphia, Pittsburgh, San Francisco, Seattle-Portland, South Carolina,  St. Louis, and Youngstown assessed every week.  To see a sample price sheet, download a sample issue below or take out a free trial to experience

Prices as of August 14, 2017
Low High
No. 1 hvy. melting 287.00 288.00
No. 1 dealer bundles 372.00 373.00
No. 2 bundles 287.00 288.00
No. 1 busheling 372.00 373.00
Shredded scrap 292.00 293.00
Machine shop turnings 204.00 205.00
Cast iron borings 169.00 170.00
Cast iron borings, foundry 204.00 205.00
Plate and structurals, 5 ft. and under 304.00 305.00
Plate and structurals, low alloy, 2 ft. and under 414.00 415.00
Low-residual, black foundry busheling 506.00 507.00
Low-residual, ductile-quality shredded clips 506.00 507.00
Low-alloy punchings 536.00 537.00
Scrap rails, random length (del to dealers yards) 329.00 330.00
Reroller rails 279.00 280.00
Rails, 2 ft. and under 439.00 440.00
No. 1 machinery cast 419.00 420.00
Clean auto cast 419.00 420.00
Cupola cast 349.00 350.00
Stove plate 349.00 350.00
Steel car wheels 344.00 345.00
Stainless (brokers' buying prices)
18-8 bundles and solids 915.00 965.00
18-8 turnings 815.00 865.00
430 bundles and solids 165.00 180.00

Market Reports

Chicago prime grades up $20, cut grades up $10 in October

By Bill Beck - October 10, 2018

A Chicago bear market that hit bottom in September when prices for all grades were down anywhere from $20 to $30 came roaring back in October when prime grades recovered the $20 they lost last month and cut grades were up $10 across the board.