Continuing Iron Age's Century-Long Tradition

Chicago scrap metal prices

April 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 February 5, 2018
Low High
No. 1 hvy. melting 317.00 318.00
No. 1 dealer bundles 367.00 368.00
No. 2 bundles 269.00 270.00
No. 1 busheling 367.00 368.00
Shredded scrap 327.00 328.00
Machine shop turnings 224.00 225.00
Cast iron borings 199.00 200.00
Cast iron borings, foundry 234.00 235.00
Plate and structurals, 5 ft. and under 334.00 335.00
Plate and structurals, low alloy, 2 ft. and under 434.00 435.00
Low-residual, black foundry busheling 511.00 512.00
Low-residual, ductile-quality shredded clips 511.00 512.00
Low-alloy punchings 536.00 537.00
Scrap rails, random length (del to dealers yards) 359.00 360.00
Reroller rails 279.00 280.00
Rails, 2 ft. and under 439.00 440.00
No. 1 machinery cast 459.00 460.00
Clean auto cast 459.00 460.00
Cupola cast 389.00 390.00
Stove plate 349.00 350.00
Steel car wheels 364.00 365.00
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 250.00 265.00

Market Reports

Chicago, St. Louis markets down sharply

By Bill Beck - April 8, 2019

Prices in the Chicago and St. Louis regions were off $20 to $30 for April, giving back the $20 bill they increased in March. Spring like weather that encourages the flow of ferrous scrap, coupled with difficulties shipping material by barge to consumers beset by flooding in the Lower Mississippi River Valley left much of Illinois, Indiana and Missouri awash in scrap.