Correction to US East Coast ferrous scrap export indexes

Fastmarkets’ calculation of its steel scrap HMS 1&2 (80:20), export index, fob New York and steel scrap shredded scrap, export index, fob New York were published incorrectly on Wednesday November 16 due to an input error.

The steel scrap HMS 1&2 (80:20), export index, fob New York, which was published at $307 per tonne, has been corrected to $299 per tonne as of Wednesday November 16. The $8 per tonne downward correction reflects a recalculation of the inputs received.

The steel scrap shredded scrap, export index, fob New York, which was published at $320 per tonne, has been corrected to $314 per tonne. The $6 per tonne downward correction reflects a recalculation of the inputs received.

The specifications for the affected prices are as follows:

MB-STE-0418 Steel scrap HMS 1&2 (80:20), export index, fob New York, $/tonne
Quality: HMS 1&2 (80/20 mix) compliant to ISRI specifications 200 – 206
Quantity: Min 5,000 tonnes
Location: fob New York, other US East Coast ports normalized
Timing: Within 1 month
Unit: US dollars per tonne
Payment terms: Cash equivalent
Publication date: Every Wednesday (or following day)
Notes: North America origin. bulk carrier

MB-STE-0419 Steel scrap shredded scrap, export index, fob New York, $/tonne
Quality: Shredded scrap compliant to ISRI specifications 210-212
Quantity: Minimum 5,000 tonnes
Location: fob New York, other East Coast ports normalized
Timing: Within 1 month
Unit: US dollars per tonne
Payment terms: Cash equivalent
Publication date: Every Wednesday (or following day)
Notes: North America origin. bulk carrier

For more information or to provide feedback on this notice, or if you would like to provide price information by becoming a data submitter for these prices, please contact Sean Barry by email at pricing@fastmarkets.com. Please add the subject heading: “FAO: Sean Barry, re: US ferrous scrap export index.”

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

What to read next
Copper scrap discounts in the United States were stuck in a holding pattern on Wednesday December 7, while brass prices consolidated recent gains amid rising prices on The Commodity Exchange (Comex)
Seaborne manganese ore prices in China ticked upward in the week to Friday December 2 but doubt remained whether this was an indication of an upward trend or just a short-term shift
Global nickel premiums were under pressure from weak demand in the week to Tuesday December 6, with the premium for nickel 4x4 cathode in Rotterdam widening downward, while the others were flat
Fastmarkets is proposing to launch two daily indices for 67.5% Fe iron ore pellet feed to reflect the spot price of high-grade pellet feed products sold on a CFR China basis.
Fastmarkets is proposing a realignment of its consumer buying prices for No1 busheling scrap in North Carolina and South Carolina respectively, effective from the January 2023 monthly settlement.
Fastmarkets has realigned its consumer buying price for ferrous scrap machine shop turnings in Chicago, effective from the December 2022 monthly settlement.
We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
Proceed