Correction to Pittsburgh bundles, busheling averages

Fastmarkets has corrected the average calculation of its prime scrap prices in Pittsburgh.

Because of a consumer entering the market late, a revised price was not correctly included in average calculations following the monthly settlement.

The price symbols for the affected prices are as follows:

MB-STE-0304 Assessment: No1 bundles:
Quality: New black steel sheet scrap, clippings or skeleton scrap, compressed or hand bundled, to charging box size, and weighing not less than 75 pounds per cubic foot. (Hand bundles are tightly secured for handling with a magnet.) May include Stanley balls or mandrel wound bundles or skeleton reels, tightly secured. May include chemically detinned material. May not include old auto body or fender stock. Free of metal coated, limed, vitreous enameled, and electrical sheet containing over 0.50 percent silicon.
Location: Delivered mill, US/Canada, specified city
Unit: USD per gross ton (Canadian cities in Canadian currency/net tons)
Publication: Monthly, typically before the 10th
Notes: ISRI Code: 208

MB-STE-0306 Assessment: No1 busheling
Quality: Clean steel scrap, maximum size 2 feet by 5 feet, including new factory busheling (sheet clippings, stampings, etc). May not include old auto body and fender stock. Free of metal coated, limed, vitreous enameled and electrical sheet containing more than 0.5% silicon.
Location: Delivered mill, US/Canada, specified city
Unit: USD per gross ton (Canadian cities in Canadian currency/net tons)
Publication: Monthly, typically before the 10th
ISRI Code: 207
Notes: A separate methodology for the AMM Midwest index is available

MB-STE-0307 Assessment: No1 industrial bundles
Quality: New production sheet scrap, clippings, or skeleton scrap, hydraulically compressed originating from a factory. Size: No more than 24 inches x 24 inches x 48 inches long with individual bundles weighing no more than 4,000 pounds.
Density: 150 pounds per cubic foot minimum.
Location: Delivered mill, US/Canada, specified city
Unit: USD per gross ton (Canadian cities in Canadian currency/net tons)
Publication: Monthly, typically before the 10th

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 Thorsten Schier by email at: pricing@fastmarkets.com. Please add the subject heading “FAO: Pittsburgh monthly averages.”

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

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