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Proposal to discontinue Detroit foundry grades

Fastmarkets proposes to discontinue three foundry grade price assessments included in its Detroit consumer buying price series due to a lack of liquidity.

November 7, 2022
Ferrous scrap Pricing notice

The grades are steel scrap foundry steel 2ft max, consumer buying price, delivered mill Detroit; steel scrap cupola cast, consumer buying price, delivered mill Detroit; and steel scrap clean auto cast, consumer buying price, delivered mill Detroit.

Detailed specifications follow below.

MB-STE-0276
Assessment: Foundry steel, 2’ max
Quality: Steel scrap 1/8 inch and over in thickness, not over 2 feet in length or 18 inches in width. Individual pieces free from attachments. May not include nonferrous metals, cast or malleable iron, cable, vitreous enameled, or metal coated material.
Location: Delivered mill, US/Canada, specified city
Unit: USD per gross ton (Canadian cities in Canadian currency/net tons)
Publication: Monthly, typically before the 10th
Notes: ISRI Code: 242

MB-STE-0277
Assessment: Cupola cast
Quality: Clean cast iron scrap such as columns, pipes, plates, and castings of a miscellaneous nature, including automobile blocks and cast iron parts of agricultural and other machinery. Free from stove plate, burnt iron, brake shoes or foreign material. Cupola size, not over 24 inches x 30 inches, and no piece over 150 pounds in weight.
Location: Delivered mill, US/Canada, specified city
Unit: USD per gross ton (Canadian cities in Canadian currency/net tons)
Publication: Monthly, typically before the 10th
Notes: ISRI Code: 252

MB-STE-0278
Assessment: Clean auto cast
Quality: Clean auto blocks; free of all steel parts except camshafts, valves, valve springs, and studs. Free of nonferrous and non-metallic parts.
Location: Delivered mill, US/Canada, specified city
Unit: USD per gross ton (Canadian cities in Canadian currency/net tons)
Publication: Monthly, typically before the 10th
Notes: ISRI Code: 259

The consultation period for this price discontinuation will begin on Monday November 7 and end on Monday December 5, with changes taking place, subject to market feedback, from Tuesday December 6.

To provide feedback on the proposal to discontinue these converted price assessments, please contact Thorsten Schier by email at pricing@fastmarkets.com. Please add the subject heading “FAO: Thorsten Schier, re: Detroit foundry grades.”

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

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