Continuing Iron Age's Century-Long Tradition

Chicago scrap metal prices

October 14, 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 August 6, 2018
Low High
No. 1 hvy. melting 337.00 338.00
No. 1 dealer bundles 397.00 398.00
No. 2 bundles 289.00 290.00
No. 1 busheling 397.00 398.00
Shredded scrap 354.00 355.00
Machine shop turnings 224.00 225.00
Cast iron borings 214.00 215.00
Cast iron borings, foundry 249.00 250.00
Plate and structurals, 5 ft. and under 349.00 350.00
Plate and structurals, low alloy, 2 ft. and under 439.00 440.00
Low-residual, black foundry busheling 546.00 547.00
Low-residual, ductile-quality shredded clips 546.00 547.00
Low-alloy punchings 566.00 567.00
Scrap rails, random length (del to dealers yards) 399.00 400.00
Reroller rails 279.00 280.00
Rails, 2 ft. and under 469.00 470.00
No. 1 machinery cast 501.00 502.00
Clean auto cast 501.00 502.00
Cupola cast 441.00 442.00
Stove plate 349.00 350.00
Steel car wheels 404.00 405.00
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 and St. Louis down $35 and $40 again in October

By Bill Beck - October 11, 2019

Beset by mill maintenance outages, lackluster exports, and the effects of a lengthening strike against General Motors, ferrous scrap prices continued their search for the bottom, with prices in Chicago and St. Louis off $40 for prime grades and $35 for cut grades. Only turnings bucked the deep downward trend, dropping $10 for the month on strong demand from mills in the South.