Continuing Iron Age's Century-Long Tradition

Chicago scrap metal prices

August 19, 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 June 11, 2018
Low High
No. 1 hvy. melting 357.00 358.00
No. 1 dealer bundles 397.00 398.00
No. 2 bundles 309.00 310.00
No. 1 busheling 397.00 398.00
Shredded scrap 374.00 375.00
Machine shop turnings 244.00 245.00
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 459.00 460.00
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 1,450.00 1,500.00
18-8 turnings 1,350.00 1,400.00
430 bundles and solids 315.00 330.00

Market Reports

Chicago and St. Louis settle at up $20 in August

By Bill Beck - August 13, 2019

After undergoing one of the more contentious settlements in recent years last month, Chicago quietly followed Michigan and Ohio mills in the middle of last week, settling at up $20 across the board - with the exception of machine shop turnings, which shot up nearly $70.