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This strategic launch is intended to offer the market a single reference price denoting the differential between US Midwest rebar and heavy melting-grade scrap, a key component in the production of that grade.
Details of the previous launches can be found via this link.
The methodology specification for this differential is:
MB-STE-0930 Steel reinforcing bar (rebar), differential to No1 heavy melt Chicago, fob mill US, $ per gross tonQuality: Grade 60, No5. ASTM A615 and equivalent; Wrought iron and/or steel scrap ¼ inch and over in thickness. Individual pieces not over 60 inches x 24 inches (charging box size) prepared in a manner to ensure compact chargingLocation: FOB mill US MidwestUnit: USD per gross tonPublication: Weekly, Wednesday, 5pm ESTNotes: Raw materials surcharges included.
This differential calculates the spread (in $ per gross ton) between Fastmarkets’ price assessment for MB-STE-0170 steel reinforcing bar (rebar), fob mill US, $ per cwt, above the assessment of the MB-STE-0228 steel scrap No1 heavy melt, consumer buying price, delivered mill Chicago, $ per gross ton.
This differential will be part of Fastmarkets’ steel package.
To provide feedback on this differential, or if you would like to provide price information by becoming a data submitter to these prices, please contact Amy Hinton or Dan Hilliard by email at: pricing@fastmarkets.com. Please add the subject heading “FAO: Amy Hinton/Dan Hilliard, steel to scrap, raw materials differentials.”
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