Adjustment to Fastmarkets’ foundry pig iron assessment

The consultation to adjust the assessment was launched on March 5 following market feedback that the price was no longer in line with actual market transaction values.

The original notice can be found here.

At the conclusion of this consultation period, Fastmarkets has adjusted the price to $575-605 per tonne from $720-750 per tonne previously.

This constitutes a $145 per tonne non-market adjustment; the market was assessed sideways week-on-week so there is no additional market change to consider as part of the new assessed value.

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.

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.