Fastmarkets AMM Busheling Scrap
We have assessed the domestic busheling scrap price for more than 25 years. Our busheling scrap index is widely accepted as the leading industry benchmark for this market. Our extensive network of market experts means it is the best-positioned price reporting agency to create a truly superior mechanism for representing the value of the highly liquid US busheling spot market.
The resources and technology that support our pricing activities allow us to produce an index value the same week that transaction data is collected, making this index the most reactive in the market for the months transactions. Our ferrous scrap indices follow a rigorous methodology and highly sophisticated data processing model designed to ensure balance among all market participants. Buyers and sellers have an equal weighting in the final index price . The result is a reflective index that is intrinsically linked to spot market transactions. To establish the busheling scrap index as the benchmark you trust for your applications, or if youd like to become a data submitter to this price, please contact us.
View recent busheling market coverage
How do we assess the price of busheling scrap?
Our price reporters produce independent, fair and representative price assessments with our state-of-the-art pricing system and adherence to International Organization of Securities Commissions (IOSCO) principles.
The busheling scrap index is intrinsically linked to spot market transactions. Price reporters aim to talk to a broad sample of market participants specifically involved in the buying and selling of busheling scrap, with a good representation of both sides of the market, including buyers and sellers.
Data is collected from market participants directly involved in the spot business by telephone, email, digital messaging or direct submission. All input data received is kept confidential and stored in our secure online pricing database system. The index is then calculated using an objective mathematical model that ensures impartiality and removes subjectivity.
The busheling scrap index price is published each month with the following specifications:
Price: US dollars per gross ton
Pricing Point: Delivered Midwest mill
Delivery Points: Any mill in Illinois, Indiana, Michigan, Wisconsin, Iowa and NW Ohio
Specifications: ISRI Grade 207 - No. 1 busheling. Ferrous busheling. Compliant to ISRI Specifications 7 No. 1 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 enameled, and electrical sheet containing over 0.5% silicon.
Material Origin: All origins Trade Size 500 gross tons
Delivery Window: Within 30 days
Payment Terms: Net 30 days post-delivery
Publication Date: 10th of each month (or following working day)
Publication Time: 4 p.m. EST
Rewriting the status quo on futures contracts
Our busheling scrap index underpins CME Groups busheling scrap futures contract.
The 20-gross-ton contract is offered electronically and trades 24 months forward. Trading hours range from Sunday at 6pm New York time through Friday at 5pm New York time.
Prices, news and analysis
We disseminate our pricing data and market coverage through direct license agreements suited to your specific needs. More than 1,400 unique prices are assessed regularly across a range of metals, grades and locations and more than 10,000 stories are published every year. All of our data can be accessed through a variety of mechanisms including the website via Price Tracker, a custom data feed and many other solutions.
To license the busheling scrap index, or any other Fastmarkets AMM data, please contact us.