Email a friend
  • To include more than one recipient, please separate each email address with a semi-colon ';', to a maximum of 5

  • By submitting this article to a friend we reserve the right to contact them regarding Fastmarkets AMM subscriptions. Please ensure you have their consent before giving us their details.

Busheling futures surge in early February

Feb 07, 2018 | 01:19 PM | Thorsten Schier

Tags  busheling, ferrous scrap, futures, CME, CME Group, Thorsten Schier

NEW YORK — CME Group’s US Midwest No. 1 busheling ferrous scrap futures contract has traded 1,025 lots - or 20,500 gross tons - so far during the week beginning February 5, according to American Metal Market calculations. 

According to CME data, 450 lots were traded on February 5 and 575 lots on February 6. So far in February, 1,250 lots - or 25,000 gross tons - have traded. January set a new monthly record at 1,467 lots - or 29,340 gross tons.

The contract is settled against American Metal Market’s Midwest index for No. 1 busheling scrap.

Open interest on the contract stood at a total of 2,542 lots - or 50,840 gross tons - as of CME's February 6 preliminary report. One lot of the contract, listed in 2012, represents 20 gross tons.

Thorsten Schier


Latest Pricing Trends Year Over Year