The consultation, which is open until Monday April 14, seeks to ensure that our audited methodologies and price specifications continue to reflect the physical markets for steel scrap, in compliance with the International Organization of Securities Commissions (IOSCO) principles for Price Reporting Agencies (PRAs). This includes all elements of our pricing process, our price specifications and publication frequency.
All our methodologies can be found via this link: https://www.fastmarkets.com/methodology/metals
The prices subject to this annual review are as follows:
US
MB-STE-0422 Steel scrap No1 busheling, index, delivered Midwest mill, $/gross ton
MB-STE-0423 Steel scrap shredded, index, delivered Midwest mill, $/gross ton
MB-STE-0424 Steel scrap No1 heavy melt, index, delivered Midwest mill, $/gross ton
Taiwan
MB-STE-0464 Steel scrap HMS 1&2 (80:20 mix) US material import, cfr main port Taiwan, $/tonne
Turkey
MB-STE-0416 Steel scrap HMS 1&2 (80:20 mix) North Europe origin, cfr Turkey, $/tonne
MB-STE-0417 Steel scrap HMS 1&2 (80:20 mix) US origin, cfr Turkey, $/tonne
India
MB-STE-0421 Steel scrap shredded, index, import, cfr Nhava Sheva, India $/tonne
To provide feedback on the annual review of the above-listed prices, please contact pricing@fastmarkets.com. Please add the subject heading “FAO: Ross Yeo, re: audited steel scrap IOSCO methodologies.”
Fastmarkets will publish the outcome of this annual review by April 18, 2025, including a summary of the feedback — with the exception of those responses marked as confidential. Any proposals to make material changes, discontinue or launch prices will involve a separate market consultation, the length of which will depend on how substantial the change is.
