January 18, 2022
A foundry is a factory that produces metal castings. Castings are made from molten metal that is then poured into shapes and removed as the metal cools. Other metals that can be used in foundries to produce casts include aluminum, bronze, brass, magnesium and zinc. Three types of furnaces are used by foundries for melting steel: electric arc furnaces (EAF's), electric induction furnaces and open-hearth furnaces. More recently, electric arc furnaces are replacing open-hearth furnaces due to their economical benefits and better quality of steel. Sometimes foundry scrap from castings will be reused by the foundry itself.
Foundry steel 2 ft and under, is steel scrap 1/8 inch and over in thickness, but not over 2 feet in length or 18 inches in width. This foundry steel scrap must be in individual pieces and free from attachments, as specified by the Institute of Scrap Recycling Industries. These steel scraps may not include nonferrous metals, cast or malleable iron, cable, vitreous enameled, or metal coated material. Foundry steel 2 ft and under can be found in Pittsburgh as a delivered to consumer price and in Cleveland as a brokers’ buying price. Details about Scrap Price Bulletin’s pricing methodology can be found here.
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. Subscribe to Fastmarkets SPB today to get access to our regional scrap prices.