Correction to US West Coast ferrous scrap export index

Fastmarkets’ calculation of its steel scrap HMS 1&2 (80:20), export index, fob Los Angeles was published incorrectly on Wednesday August 31 due to a reporting error.

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.

What to read next
Following an initial consultation with the market and a review of the typical data sets that have been collected over recent months, Fastmarkets is proposing changes to the specifications of the index for MB-IRO-0009 iron ore 65% Fe Brazil-origin fines, cfr Qingdao, by raising the silica base specification to 2.7% from 2.2%, as well as an […]
The corrections are as follows: AG-BRY-0004 Barley Feed barley FOB Argentina $/mt Incorrect prices: August $119.00 per tonne Corrected to: August $219.00 per tonne Fastmarkets’ pricing database has been updated to reflect this change. These prices are part of the Fastmarkets Ags Grains package. For more information or to provide feedback on this correction notice or […]
This price is a part of the Fastmarkets scrap package. For more information on our North America Ferrous Scrap methodology and specifications please click here. To get in touch about access to this price assessment, please contact customer.success@fastmarkets.com.
This consultation was done as an adhoc methodology review process, aiming to better reflect the physical market under indexation, considering its reduced liquidity linked to the combination of seasonal demand patterns and the implementation of cross-border import tariffs between the US and China. No feedback was received during the consultation period and therefore Fastmarkets will […]
Here are the key takeaways from market participants on US ferrous scrap metal prices, market confidence, inventory and more from our July survey.
Full details of the prices covered by this consultation can be found here: https://www.fastmarkets.com/insights/open-consultation-on-annual-methodology-review-for-global-pulp-pricing-notice/ During the consultation, Fastmarkets requested comments on whether current discount levels for US market pulp have grown too high and invited open-ended feedback on potential remedies moving forward. Feedback from the industry was mixed. Potential remedies suggested by the industry included […]