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These prices were published to reflect transaction data received during the monthly US ferrous scrap settlement on Tuesday September 12.
While Fastmarkets deems that these assessments were in line with actual transaction values for these scrap grades in September, subsequent feedback indicates that they did not reflect the trends reported for this market.
No1 busheling prices trended down by $40 per gross ton, while the prices for No1 heavy melt and plate and structural scrap trended sideways month on month in September.
As such, the assessment for MB-STE-0341 steel scrap No1 busheling, dealer selling price, fob dealer yard Atlanta, has been corrected to $295 per gross ton from $350 per gross ton.
The assessment for MB-STE-0340 steel scrap No1 heavy melt, dealer selling price, fob dealer yard Atlanta, has been corrected to $303 per gross ton from $310 per gross ton.
The assessment for MB-STE-0344 steel scrap cut structural/plate 5ft max, dealer selling price, fob dealer yard Atlanta, has been corrected to $316 per gross ton from $355 per gross ton.
Fastmarkets now proposes to adjust the actual transaction values for these grades in this market commensurate with October’s monthly ferrous trade.
The consultation period for this proposed change starts on Wednesday September 13. The amendment, subject to market feedback, will be implemented when the market settles for October.
For more information or to provide feedback on this correction 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: Houston shredded auto scrap.”
To see all Fastmarkets’ pricing methodology and specification documents, go to https://www.fastmarkets.com/about-us/methodology.