Continuing Iron Age's Century-Long Tradition

Chicago scrap metal prices

February 11, 2019

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, 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, clean auto cast, cupola cast, 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.

Fastmarkets SPB is a weekly subscription service for steel and iron scrap prices.

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 December 4, 2017
Low High
No. 1 hvy. melting 257.00 258.00
No. 1 dealer bundles 327.00 328.00
No. 2 bundles 257.00 258.00
No. 1 busheling 327.00 328.00
Shredded scrap 262.00 263.00
Machine shop turnings 164.00 165.00
Cast iron borings 139.00 140.00
Cast iron borings, foundry 174.00 175.00
Plate and structurals, 5 ft. and under 274.00 275.00
Plate and structurals, low alloy, 2 ft. and under 374.00 375.00
Low-residual, black foundry busheling 466.00 467.00
Low-residual, ductile-quality shredded clips 466.00 467.00
Low-alloy punchings 496.00 497.00
Scrap rails, random length (del to dealers yards) 299.00 300.00
Reroller rails 279.00 280.00
Rails, 2 ft. and under 399.00 400.00
No. 1 machinery cast 399.00 400.00
Clean auto cast 399.00 400.00
Cupola cast 329.00 330.00
Stove plate 349.00 350.00
Steel car wheels 314.00 315.00
Stainless (brokers' buying prices)
18-8 bundles and solids 1,200.00 1,250.00
18-8 turnings 1,100.00 1,150.00
430 bundles and solids 200.00 215.00

Market Reports

Chicago And St. Louis down another $20 on prime, sideways on cut grades

By Bill Beck - February 13, 2019

General market report for Chicago and St. Louis
After skidding $30 in January, prices in the Chicago and St. Louis markets stabilized in February. Prime grades remained soft though, down $20 for the month, while cut grades, shredded and turnings traded at sideways prices to January.