Fastmarkets has corrected several ferrous metal weekly averages, which were published incorrectly on December 28.

Here are the key takeaways from market participants on US ferrous scrap metal prices, market confidence, inventory and more from our January survey.

On Tuesday December 10, 2024, Fastmarkets published its MB-STE-0232 Steel scrap No1 busheling, consumer buying price, delivered mill Chicago, $/gross ton.This price is part of the Fastmarkets Scrap package. For more information on our North America Ferrous Scrap methodology and specifications please click here. To get in touch about access to this price assessment, please contact customer.success@fastmarkets.com.

Trading of the contract started on Monday December 16, 2024, on the CME Globex electronic trading platform and for submission for clearing via CME ClearPort.

After market feedback, Fastmarkets is extending the consultation period for its proposal to discontinue its MB-STE-0423 Steel scrap shredded, index, delivered Midwest mill, $/gross ton; its MB-STE-0424 Steel scrap No1 heavy melt, index, delivered Midwest mill, $/gross ton and its MB-STE-0882 Steel scrap No1 busheling, indicator, delivered Midwest mill, $/gross ton, effective January 2025.

Here are the key takeaways from market participants on US ferrous scrap metal prices, market confidence, inventory and more from our December survey.

Read more about these new futures contracts against Fastmarkets' benchmark assessment for the Chicago No. 1 busheling ferrous scrap price

Fastmarkets proposes to discontinue its MB-STE-0423 Steel scrap shredded, index, delivered Midwest mill, $/gross ton; its MB-STE-0424 Steel scrap No1 heavy melt, index, delivered Midwest mill, $/gross ton and its MB-STE-0882 Steel scrap No1 busheling, indicator, delivered Midwest mill, $/gross ton, effective January 2025.

The publication of Fastmarkets’ Japan export steel scrap assessments for Wednesday November 13 was delayed because of a reporter error. Fastmarkets’ pricing database has been updated.

Fastmarkets advises that, as of Monday November 11, certain monthly North American ferrous scrap assessments are yet to settle.