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The daily composite prices for these grades were incorrectly calculated without the settled Chicago assessments on April 9.
The composite prices for No1 heavy melting scrap and No1 busheling are calculated using the average settled prices for Chicago, Philadelphia and Pittsburgh.
The composite price for shredded auto scrap is calculated using the average settled prices for Alabama, Chicago, Philadelphia and Pittsburgh.
Fastmarkets’ MB-STE-0426 steel scrap No1 heavy melt, daily composite, delivered mill US, $/gross ton was erroneously published at $368.33 per gross ton on April 9 and has been corrected to $358.33 per gross ton.
Fastmarkets’ MB-STE-0428 Steel scrap No1 busheling, daily composite, delivered mill US, $/gross ton was erroneously published at $466.67 per gross ton on April 9 and has been corrected to $460 per gross ton.
Fastmarkets’ MB-STE-0427 Steel scrap shredded auto, daily composite, delivered mill US, $/gross ton was erroneously published at $435.75 per gross ton on April 9 and has been corrected to $425.75 per gross ton.
Fastmarkets’ pricing database has been updated to reflect these changes.
These prices form part of Fastmarkets’ scrap package.
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 please contact Amy Hinton by email at: pricing@fastmarkets.com. Please add the subject heading “FAO: Amy Hinton re: ferrous scrap daily composites.”
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.