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The front-month February contract traded 31 lots and settled down by $10 at $525 per ton, according to a daily report from the exchange.
A total of 35 lots were traded on the March contract, which settled unchanged at $530 per ton.
Open interest stood at 6,198 lots, or 123,930 tons, up by 11 lots from 6,187 lots in the prior day’s trading.
Fastmarkets assessment of the steel scrap No1 busheling, consumer buying price, delivered mill Chicago was at $520 per ton on January 10, down by 10.34% from $580 per ton on December 6.
CME’s busheling futures contracts are settled against Fastmarkets’ steel scrap No1 busheling index, delivered Midwest mill, which was calculated at $542.33 per ton on January 10, down by 10.18% from $603.81 per ton on December 10.
To keep up with steelmaking trends throughout 2022, visit our steel and raw materials page.