Continuing Iron Age's Century-Long Tradition

Chicago scrap metal prices

July 15, 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 May 7, 2018
Low High
No. 1 hvy. melting 357.00 358.00
No. 1 dealer bundles 387.00 388.00
No. 2 bundles 309.00 310.00
No. 1 busheling 387.00 388.00
Shredded scrap 374.00 375.00
Machine shop turnings 254.00 255.00
Cast iron borings 234.00 235.00
Cast iron borings, foundry 269.00 270.00
Plate and structurals, 5 ft. and under 369.00 370.00
Plate and structurals, low alloy, 2 ft. and under 469.00 470.00
Low-residual, black foundry busheling 531.00 532.00
Low-residual, ductile-quality shredded clips 531.00 532.00
Low-alloy punchings 556.00 557.00
Scrap rails, random length (del to dealers yards) 409.00 410.00
Reroller rails 279.00 280.00
Rails, 2 ft. and under 479.00 480.00
No. 1 machinery cast 509.00 510.00
Clean auto cast 509.00 510.00
Cupola cast 444.00 445.00
Stove plate 349.00 350.00
Steel car wheels 414.00 415.00
Stainless (brokers' buying prices)
18-8 bundles and solids 1,425.00 1,475.00
18-8 turnings 1,325.00 1,375.00
430 bundles and solids 315.00 330.00

Market Reports

Chicago Digs In; Markets Sideways in St. Louis, South

By Bill Beck - July 11, 2019

When a consortium of Detroit-area mills announced early the week of July 4th that they would be buying ferrous scrap for July at a $10 discount to June prices, everyone expected that Chicago would quickly follow suit.