The decision has been made following a 30-day consultation period spanning from Thursday May 4 to Thursday June 1. The proposal to delist that grade in those markets was announced on May 4 following a sustained period of illiquidity. The original notice can he found here.
Price assessments for machine shop turnings in both Pittsburgh and Cleveland were suspended on May 6, 2022 and June 1, 2022 respectively on that basis. The original suspension notices can be found here and here.
Detailed specifications follow below.
MB-STE-0309 Steel scrap machine shop turnings, consumer buying price, delivered mill Pittsburgh
Quality: Clean steel or wrought iron turnings, free of iron borings, nonferrous metals in a free state, scale, or excessive oil. May not include badly rusted or corroded stock.
Location: Delivered mill, Pittsburgh
Unit: USD per gross ton
Publication: Monthly, typically before the 10th
Notes: ISRI Code: 219
MB-STE-0259 Steel scrap machine shop turnings, consumer buying price, delivered mill Cleveland
Quality: Clean steel or wrought iron turnings, free of iron borings, nonferrous metals in a free state, scale, or excessive oil. May not include badly rusted or corroded stock.
Location: Delivered mill, Cleveland
Unit: USD per gross ton
Publication: Monthly, typically before the 10th
Notes: ISRI Code: 219
All short-term forecasts associated with these prices produced by Fastmarkets, if any, will also be discontinued.
To provide feedback on these prices, or if you would like to provide price information by becoming a data-submitter to the ferrous scrap assessments, please contact Amy Hinton at pricing@fastmarkets.com. Please add the subject heading: “FAO: Amy Hinton re: Pittsburgh/Cleveland machine shop turnings.”
To see all of Fastmarkets’ pricing methodology and specification documents, go to
https://www.fastmarkets.com/methodology.
