Continuing Iron Age's Century-Long Tradition

Chicago scrap metal prices

May 20, 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.

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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 March 12, 2018
Low High
No. 1 hvy. melting 347.00 348.00
No. 1 dealer bundles 377.00 378.00
No. 2 bundles 299.00 300.00
No. 1 busheling 377.00 378.00
Shredded scrap 364.00 365.00
Machine shop turnings 249.00 250.00
Cast iron borings 224.00 225.00
Cast iron borings, foundry 259.00 260.00
Plate and structurals, 5 ft. and under 364.00 365.00
Plate and structurals, low alloy, 2 ft. and under 454.00 455.00
Low-residual, black foundry busheling 521.00 522.00
Low-residual, ductile-quality shredded clips 521.00 522.00
Low-alloy punchings 546.00 547.00
Scrap rails, random length (del to dealers yards) 389.00 390.00
Reroller rails 279.00 280.00
Rails, 2 ft. and under 459.00 460.00
No. 1 machinery cast 489.00 490.00
Clean auto cast 489.00 490.00
Cupola cast 419.00 420.00
Stove plate 349.00 350.00
Steel car wheels 394.00 395.00
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 385.00 400.00

Market Reports

Chicago and St. Louis off $30 on most grades

By Bill Beck - May 15, 2019

Prices in Chicago and St. Louis were off a solid $30 in May, putting prices $50 to $60 below where they were at the end of March. Logistics problems, including sustained flooding on the Upper Mississippi River, is making it difficult to ship scrap out of the Chicago district. As a result, material, particularly busheling and bundles, is backing up into Chicago and Indiana.