The CME Group Ferrous Metals products enable commercial producers and users of these metals to lock in margins and manage price risk. This product suite consists of outrights and options. In addition, they:
– Offer hedging opportunities throughout the steel supply chain, from steel mills to steel service centers, distributors, merchants and end-users.
– Reflect the growing use of index-based pricing, in tandem with the increase in steel price volatility.
– Provide price assessments based on actual spot transactions in the market, with all the data providers directly involved in buying and selling the relevant steel product on the spot market.
Things to know about the contracts
– Based on the index price of Chicago #1 Busheling Ferrous Scrap* (Globex Code: BCHJ5).
– Financially settled and traded electronically only, on CME Globex.
The table below shows the latest weekly busheling scrap future settlement figures compared to the previous week. The graph below shows the busheling scrap futures forward curve, with an additional red line showing the curve from four weeks prior. There is also a tab to view the data behind this chart. This data is updated each Friday.
*Effective April 4, 2025, SMU has changed the source of its busheling scrap futures data. We now use settlement figures from the Chicago No. 1 Busheling Ferrous Scrap index. Previously, we used the U.S. Midwest Busheling Ferrous Scrap futures contract (Globex Code: BUSJ5), which will ceasing trading at the end of this year.
CME Busheling Scrap Futures as of May 15 (final)
Date
Latest
Change
Previous
May 1, 2025
430
-10
440
June 1, 2025
430
-10
440
July 1, 2025
430
-10
440
August 1, 2025
435
-10
445
September 1, 2025
440
-10
450
October 1, 2025
445
-5
450
November 1, 2025
450
-5
455
December 1, 2025
465
10
455
January 1, 2026
490
5
485
February 1, 2026
490
5
485
March 1, 2026
490
5
485
April 1, 2026
500
5
495
May 1, 2026
504
5
499
Date
Latest
Change
Previous
CME BUS Scrap Futures Forward Curve Chart
CME BUS Scrap Futures Forward Curve Table
CME Busheling Scrap Futures Forward Curve as of May 15, 2025