Chicago No1 Busheling Ferrous Scrap (Fastmarkets)
Futures and Options
Hedge price risk on a key input for steel manufacturing
Recycled ferrous scrap, also known as iron and steel scrap, is a vital input for new steel production, with over half of U.S. steel output relying on it, particularly Electric Arc Furnace (EAF) mills. This resource is also extensively traded internationally, with key export markets in Mexico and Turkey.
Manage related price risk with Chicago No1 Busheling Ferrous Scrap (BCH) futures and options. Part of our comprehensive suite of Ferrous Metals products, this contract enables hedging against price volatility and will be available on Globex and ClearPort.
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Features and benefits
Price against the benchmark
Use Fastmarkets’ Chicago No1 Busheling price as a benchmark to align your purchasing strategy with the market, ensuring competitive pricing and transparency.
Protect your profit margins
Trade both Busheling and HRC futures in one place, to lock in profit margins between input and output materials and access potential margin offsets.
Gain flexible execution
Choose your preferred method of trade execution using Globex or ClearPort.
About the Fastmarkets’ Chicago Busheling assessment
The monthly Chicago No1 Busheling price serves as the main reference point for U.S. domestic prime scrap. It is assessed on a monthly basis and specified as the consumer buying price, delivered mill Chicago, in $/gross ton. The product is available under the code MB-STE-0232. Fastmarkets publishes the price assessment typically before the 10th of each month.
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