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.

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