Information received from the market during the last pricing session on Monday March 4 suggests that the current assessment of this price no longer reflects actual market levels.
The specification for the grade in question are as follows:
MB-FEN-0004 Pig iron foundry grade, Brazil, fob New Orleans, $/tonne
Quality: Min size: standard size featuring 3.5-4.5 percent carbon, 2.25-3.50 percent silicon, 0.5-1.0 percent manganese, less than 0.05 percent sulfur and less than 0.12 percent phosphorus.
Location: fob New Orleans
Timing: Spot
Unit: USD/tonne
Payment terms: Prices are those effective on the date of publication for future delivery of material loaded on barge (free on board) New Orleans
Publication: Weekly. Monday, by 5pm NY time
This price forms part of Fastmarkets’ scrap package
The consultation period for this proposal starts on Wednesday March 5 and will end on Tuesday April 5. The non-market adjustment will then take place, subject to market feedback, on Monday April 8.
For more information or to provide feedback on this pricing notice, or if you would like to provide price information by becoming a data submitter to these prices, please contact Amy Hinton by email at: pricing@fastmarkets.com. Please add the subject heading: “FAO: Amy Hinton Re: Alternative irons.”
Please indicate if comments are confidential. Fastmarkets will consider all comments received and will make comments not marked as confidential available upon request.
To see all Fastmarkets pricing methodology and specification documents, go to https://www.fastmarkets.com/methodology.
