Decision to adjust 400-series stainless steel scrap consumer buying prices [correction, update]

Fastmarkets adjusted its assessments for the stainless steel scrap 430 bundles, solids, consumer buying price, delivered mill Pittsburgh and the stainless steel scrap 409 bundles, solids, consumer buying price, delivered mill Pittsburgh effective Monday February 12.

The adjustment comes after a 30-day consultation period, which was launched following feedback that Fastmarkets’ assessments of these prices were no longer in line with actual market transaction values.

The original notice, published on January 11, can be found here.

Fastmarkets’ stainless steel scrap 430 bundles, solids, consumer buying price, delivered mill Pittsburgh, c/lb was assessed at $0.30-0.34 per lb on February 12.

The market in January was priced at $0.1495-0.1607 per lb.

The February 12 assessment of this price reflects a market downtrend of $0.0089 per lb versus January, which subsequently calibrated the price at $0.1406-0.1518, in addition to a non-market adjustment of $0.1594-0.1882 per lb over the period.

Fastmarkets’ stainless steel scrap 430 bundles, solids, consumer buying price, delivered mill Pittsburgh, $/gross ton was assessed at $672-762 per gross ton on February 12.

The market in January was priced at $335-360 per gross ton.

The February 12 assessment of this price reflects a $20-per-gross-ton downtrend in the market versus January, which calibrated the price at $315-340 per gross ton, in addition to a non-market adjustment of $357-422 per gross ton over the period.

Fastmarkets’ assessment of the stainless steel scrap 409 bundles, solids, consumer buying price, delivered mill Pittsburgh, c/lb was assessed at $0.260-0.295 per lb on February 12.

The market in January was priced at $0.0893-0.1026 per lb.

The February 12 assessment of this price reflects a $0.0089-per-lb downtrend in the market versus January, which subsequently calibrated the price at $0.0804-0.0937 per lb, and a non-market adjustment of $0.1796-0.2013 per lb over the period.

Fastmarkets’ assessment of the stainless steel scrap 409 bundles, solids, consumer buying price, delivered mill Pittsburgh, $/gross ton was assessed at $582-661 per gross ton on February 12.

The market in January was priced at $200-210 per gross ton.

The February 12 assessment of the price reflects a $20-per-gross-ton downtrend in the market in February versus January, which subsequently calibrated the price at $180-210 per gross ton, and a non-market adjustment of $402-451 per gross ton over the period.

The specifications of the grades in question are as follows:

MB-STS-0257/MB-STS-0135: Stainless steel scrap 430 bundles, solids, consumer buying price, delivered mill Pittsburgh
Quality: Chromium 16.00-18.00%, manganese 1.00%, silicon 1.00%
Location: Delivered mill, Pittsburgh
Unit: US cents per lb/USD per gross ton
Publication: Monthly, typically before the 10th

MB-STS-0258/MB-STS-0136: Stainless steel scrap 409 bundles, solids, consumer buying price, delivered mill Pittsburgh
Quality: Chromium 11.00%
Location: Delivered mill, Pittsburgh
Unit: US cents per lb/USD per gross ton
Publication: Monthly, typically before the 10th

These prices form part of Fastmarkets’ scrap package.

To provide feedback on this notice, please contact Amy Hinton by email at pricing@fastmarkets.com. Please add the subject heading: “FAO: Amy Hinton, re: stainless scrap prices.”

Please indicate if comments are confidential. Fastmarkets will consider all comments received and will make comments not marked as confidential available upon request.

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

(Editor’s note: The seventh paragraph erroneously stated that the non-market adjustment for stainless steel scrap 430 bundles, solids, consumer buying price, delivered mill Pittsburgh was up by $382 per gross ton at the top of the range and by $317 per gross ton at the bottom of the range compared with prices in January.

The 11th paragraph erroneously stated that the non-market adjustment for stainless steel scrap 409 bundles, solids, consumer buying price, delivered mill Pittsburgh was up by $451 per gross ton at the top of the range and by $402 per gross ton at the bottom of the range compared with prices in January.

Both errors have been corrected.)

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