Fastmarkets is proposing a comprehensive update of its stainless steel scrap prices to bring them in line with its global price reporting agency standards.

Fastmarkets has updated its consumer buying price for steel scrap No1 heavy melt and cut structural/plate, 5’ max, delivered mill Cleveland, following the arrival of late information for the domestic ferrous scrap monthly trade in September.

Following a consultation period and market feedback, Fastmarkets has realigned its consumer buying price for turnings in Houston, effective from the September 2022 monthly settlement.

Fastmarkets has corrected its consumer buying price for steel scrap No2 bundles, delivered mill Philadelphia, following an input error during the monthly domestic ferrous scrap trade in September.

Fastmarkets advises that some monthly regional ferrous scrap markets have not settled for September. Fastmarkets typically settles these markets on or before the 10th of the month.

Following a consultation period and market feedback, Fastmarkets is realigning its dealer selling price for ferrous scrap machine shop turnings in St Louis, effective from the September 2022 monthly settlement.

Following a consultation period and market feedback, Fastmarkets has realigned its consumer buying prices for No1 bundles and No1 busheling scrap in Alabama, effective from the September 2022 monthly settlement.

Steel prices in the United States are unlikely to return to last year's highs over the next year due to incoming steel capacity and falling raw materials prices, which could affect steel mills’ profitability, analysts told Fastmarkets

Fastmarkets’ calculation of its steel scrap HMS 1&2 (80:20), export index, fob Los Angeles was published incorrectly on Wednesday August 31 due to a reporting error.

In a fresh cargo sale to Turkey, US deep-sea ferrous scrap export prices ticked up by $2-11 per tonne compared with the last such US deals