Previously, Fastmarkets' MB-STE-0894 steel scrap, HMS 1&2 (80:20 mix), month-to-date deal-weighted average, North Europe origin, cfr Turkey only included deals that were classified as confirmed, which means that at least the buyer or the seller in a given deal verified the transaction.
From Monday November 1, deals that are listed as 'deal heard' in the index will also be included; a deal is only listed as a 'deal heard' if it has been independently reported to Fastmarkets by at least four different market sources.
The change has been being made to ensure that the steel scrap month-to-date deal weighted average price, cfr Turkey captures the majority of market transactions.
Fastmarkets' experienced reporters retain the ability to screen for contentious deals; the confidence behind deals heard is consequently very high.
The change has been made following a consultation with the market that began on Tuesday September 28 and ended on Thursday October 28.
To provide feedback on this index or if you would like to provide price information by becoming a data submitter to this index, please contact Ross Yeo by email at: email@example.com. Please add the subject heading FAO: Ross Yeo, re: steel scrap month-to-date deal weighted average price, cfr Turkey.
To see all Fastmarkets’ pricing methodology and specification documents go to https://www.fastmarkets.com/about-us/methodology.
After a consultation period, Fastmarkets has liberalized the criteria for deals to be included in the calculations for the steel scrap month-to-date deal weighted average price, cfr Turkey.