CORRECTION NOTICE: Corrections to international scrap prices in May

Steel First has decided to issue corrections to its international scrap indices and assessments for the period May 9-31, 2016.

Paragraph entered by Atlantic migration, in order for SteelFirst articles to display correctly on Metal Bulletin.

A review of pricing during the period showed that the methodology was not correctly applied.

According to Steel First’s methodology, firm bids and offers will be included in the assessment and index calculation process in the absence of trade.

During the specified period, this did not happen and the prices were kept unchanged from the time of the latest deep-sea cargo trade into Turkey on May 5.

The corrected prices are shown below and the database has been corrected.

If you have questions, please contact editor Vera Blei at vblei@steelfirst.com.

 

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