Scrap Prices North America

October Busheling Scrap Tags Flat at Large Detroit-area Buyer: Sources

October 6, 2023

A large Detroit-area scrap buyer has settled scrap tags for October, with busheling scrap sideways, sources told SMU.

Meanwhile, prices for both plate and structurals as well as for shredded scrap fell $20 per gross ton, respectively, from September, they said.

UAW Strike Keeps Prime Steady

The United Auto Workers (UAW) strike likely kept busheling prices unchanged, one source said.

Also known as prime scrap, busheling refers to the pieces of metal left over from industrial processes such as automotive stamping. Fewer auto plants running means less prime scrap generation.

A second scrap source agreed.

“They did not want to miss the last, best prime buying opportunity of the year and give their competitors the inside track to accumulate prime scrap,” the second source said.

“Concern about tightness in the prime market from the strike was definitely a factor,” he added.

The Detroit-area settlement is important because it often sets the tone for scrap prices nationally.

September Settlement Recap

SMU will report updated scrap prices for October once more regions are settled.

Our September scrap prices stood at:

• Busheling at $380-420 per gross ton, averaging $400, down $50 from August.

• Shredded at $370-410 per gross ton, averaging $390, unchanged from August.

• HMS at $310-350 per gross ton, averaging $330, unchanged from August.

Ethan Bernard

Ethan Bernard is a reporter and editor for Steel Market Update. He previously worked for American Metal Market as a copy editor in the New York office for two years starting in 2008. Later, he copy edited AMM’s monthly magazine on a freelance basis from 2015 until 2017. With experience in financial copywriting and textbook publishing, he holds a BA in Comparative Literature from UC Berkeley, and an MFA. in Creative Writing from New York University. He can be reached at ethan@steelmarketupdate.com or 724-759-7871.