Get started

Proposal to discontinue US Midwest ferrous scrap No1 busheling index

Fastmarkets proposes to discontinue its MB-STE-0422 Steel scrap No1 busheling index, delivered Midwest mill, $ per gross ton, with effect from January 2026.

September 2, 2025
By Fastmarkets pricing team
Ferrous scrap Pricing notice Steel raw materials United States

This proposal follows the transition of the settlement of the Chicago Mercantile Exchange No1 busheling contract to Fastmarkets’ assessment of the Chicago No1 busheling price on December 16, 2024.

The index has remained active in the interim to support existing contracts that are settled against that calculated number.

The specifications for the affected index are as follows:

MB-STE-0422 steel scrap No1 busheling, index, delivered Midwest mill, $ per gross ton
Quality: ISRI Grade 207 – No1 busheling Ferrous busheling. Compliant to ISRI Specifications 7 No1 busheling. Clean steel scrap, maximum size 2 feet by 5 feet, including new factory busheling (sheet clippings, stampings, etc.). May not include old auto body and fender stock. Free of metal coated, limed, vitreous enamelled and electrical sheet containing over 0.5% silicon.
Quantity: 500 gross tons
Location: Delivered US Midwest mill – any mill in Illinois, Indiana, Michigan, Wisconsin, Iowa and NW Ohio
Timing: Within 30 days
Unit: US dollars per gross ton
Payment terms: Net 30 days post delivery
Publication: 10th of each month by 4pm New York time (or following working day)
Notes: All origins.

This index is part of the Fastmarkets scrap package.

All short-term forecasts associated with this price produced by the Fastmarkets research team, if any, will also be discontinued.

The consultation period for this discontinuation will end on Friday October 31. An update to this notice will be published on Wednesday November 5. Subject to market feedback, the proposed change would take place at the start of January 2026.

To provide feedback on this proposal to discontinue, or if you would like to provide price information by becoming a data submitter to this index, please contact Amy Hinton by email at: pricing@fastmarkets.com. Please add the subject heading “FAO: Amy Hinton, re: US ferrous scrap indices for No1 busheling.”

Please indicate if comments are confidential. Fastmarkets will consider all comments received and will make comments not marked as confidential available upon request.

To see all Fastmarkets’ pricing methodology and specification documents, go to https://www.fastmarkets.com/methodology.

What to read next
End of open consultation on methodology for ferro-chrome 50% Cr import, cif main Chinese ports and European high carbon ferro-chrome price assessments
Fastmarkets invited feedback from the industry on the methodology of its price assessments for ferro-chrome 50% Cr import, cif main Chinese ports, and European high carbon ferro-chrome, as part of its annual methodology review process.
May 5, 2026
 · 
By Fastmarkets pricing team
End of open consultation on methodology for ferro-tungsten basis 75% W, in-whs dup Rotterdam and tungsten APT 88.5% WO3 min cif Rotterdam and Baltimore duty-free price assessments
Fastmarkets invited feedback from the industry on the methodology of its price assessments for ferro-tungsten basis 75% W, in-whs dup Rotterdam, and tungsten APT 88.5% WO3 min cif Rotterdam and Baltimore duty-free, as part of its annual methodology review process.
May 5, 2026
 · 
By Fastmarkets pricing team
End of open consultation on methodology for ferro-molybdenum in-whs Rotterdam; molybdic oxide in-whs Rotterdam, Busan
Fastmarkets invited feedback from the industry on the methodology of its price assessments for ferro-molybdenum 65% Mo min, in-whs Rotterdam, $ per kg Mo; molybdenum drummed molybdic oxide 57% Mo min, in-whs Rotterdam, $ per lb Mo; and molybdenum MB drummed molybdic oxide Mo, in-whs Busan, $ per lb, as part of its annual methodology review process.
May 5, 2026
 · 
By Fastmarkets pricing team
Green steel forecast for Europe
US steel HRC supply fears get ‘no comment’ from mills, legislators
US steel mills were operating in April 2026 at their highest capacity utilization rate since 2024, but because many domestic producers have gone long on contracts this year, buyers continued to report difficulty in securing tonnages of steel hot-rolled coil on the spot market.
May 5, 2026
 · 
By Rachel McGuire
Architecture, Building, Factory
HRC rally pushes US Galvalume price up by $30/t in April despite soft demand
The US domestic Galvalume price increased by $30 per ton in April despite soft end demand. The coated price boosted solely based on continuing strength in the hot-rolled coil market, sources said.
May 5, 2026
 · 
By Rijuta Dey
Open consultation on annual methodology review for Asia recovered paper, Asia packaging paper and board: pricing notice
This consultation, which is open until June 2, 2026, seeks to ensure that our methodologies continue to reflect the physical market under indexation, in compliance with the International Organization of Securities Commissions (IOSCO) principles for Price Reporting Agencies (PRAs). This includes all elements of our pricing process, our price specifications and publication frequency. You can […]
May 5, 2026
 · 
By Shawn Wang