The index, which was published as $360 per tonne, has been corrected to $380 per tonne as of Thursday September 1. The $20-per-tonne upward correction reflects a recalculation of the freight breakdown.
The specifications of the affected price are as follows:
MB-STE-0425: Steel scrap HMS 1&2 (80:20), export index, fob Los Angeles, $/tonne
Quality: HMS 1&2 (80:20 mix) compliant to ISRI specifications 200 – 206
Quantity: Min 5,000 tonnes
Location: fob Long Beach, other US West Coast ports normalized
Timing: Within one 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.
