Continuing Iron Age's Century-Long Tradition

Chicago scrap metal prices

January 13, 2020

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 November 5, 2018
Low High
No. 1 hvy. melting 347.00 348.00
No. 1 dealer bundles 407.00 408.00
No. 2 bundles 299.00 300.00
No. 1 busheling 407.00 408.00
Shredded scrap 359.00 360.00
Machine shop turnings 214.00 215.00
Cast iron borings 214.00 215.00
Cast iron borings, foundry 249.00 250.00
Plate and structurals, 5 ft. and under 354.00 355.00
Plate and structurals, low alloy, 2 ft. and under 429.00 430.00
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) 369.00 370.00
Reroller rails 279.00 280.00
Rails, 2 ft. and under 449.00 450.00
No. 1 machinery cast 486.00 487.00
Clean auto cast 486.00 487.00
Cupola cast 426.00 427.00
Stove plate 349.00 350.00
Steel car wheels 374.00 375.00
Stainless (brokers' buying prices)
18-8 bundles and solids 1,100.00 1,150.00
18-8 turnings 1,000.00 1,050.00
430 bundles and solids 275.00 290.00

Market Reports

Chicago, St. Louis markets up another $30

By Bill Beck - January 13, 2020

When Detroit mills quickly settled early last week at up $30 across the board from December prices, there was some concern that Chicago mills might hold out for a $20 premium to December pricing. But by late last Tuesday, mills from Iowa and Nebraska south to the Ohio River had all fallen in line with the $30 increase, the third double digit bump since last November.