Correction to Philadelphia consumer scrap price

Fastmarkets has corrected its consumer buying price for cut structural/plate 3’max, delivered mill Philadelphia, following an input error during the monthly domestic ferrous scrap trade in May.

The price for cut structural/plate 3’max in May, which was published as $595 per gross ton on May 6, has been corrected to $445 per gross ton as of Tuesday August 9. This change to $445 per gross ton reflects a $75-per-ton decline compared with April.

The price for cut structural/plate 3’max in June, which was published as $545 per gross ton on June 9, has been corrected to $395 per gross ton as of August 9. This change to $395 per gross ton reflects a $50-per-ton decline compared with May.

The price for cut structural/plate 3’max in July, which was published as $505 per gross ton on July 8, has been corrected to $355 per gross ton as of August 9. This change to $355 per gross ton reflects a $40-per-ton decline compared with June.

The price for cut structural/plate 3’max in August, which was published as $475 per gross ton on Monday August 8, has been corrected to $325 per gross ton as of August 9. This change to $325 per gross ton reflects a $30-per-ton decline compared with July.

The monthly averages have been amended as well.

The May average has been corrected to $445 per ton, representing a 14.42% drop from April’s average; the June average has been corrected to $395 per ton, representing an 11.24% drop from May’s average; and the July average has been corrected to $355 per ton, representing a 10.13% drop from June’s average.

The specifications of the affected price are as follows:

MB-STE-0292 Cut structural/plate, 3’ max
Quality: Cut structural and plate scrap, 3 feet and under. Clean open hearth steel plates, structural shapes, crop ends, shearings, or broken steel tires. Dimensions not less than ¼ inch in thickness, not over 3 feet in length and 18 inches in width. Phosphorus or sulfur not over 0.05 percent.
Location: Delivered mill Philadelphia
Unit: USD per gross ton
Publication: Monthly, typically before the 10th
Notes: ISRI Code: 236

To provide feedback on this correction, or if you would like to provide price information by becoming a data submitter to the ferrous scrap assessments, please contact Sean Barry at pricing@fastmarkets.com. Please add the subject heading: FAO: Sean Barry re: Philadelphia cut structural/plate 3’max.

To see all of Fastmarkets’ pricing methodology and specification documents, go to https://www.fastmarkets.com/methodology.