Decision to adjust 400-series stainless steel scrap consumer buying prices [corrected]

Fastmarkets has 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 was assessed at $0.30-0.34 per lb on February 12.

This price reflects a 0.0089-cent-per-lb or $20-per-gross-ton downtrend in the market in February versus January, in addition to a broad 17.93-cent-per-lb non-market adjustment upward on the top end of the range and a 15.05-cent-per-lb non-market adjustment upward on the bottom end of the range. On a cents-per-lb basis, the 0.0089-cent downtrend between January and February is too marginal a number to factor into Fastmarkets’ calculation of the monthly trend.

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.

This price reflects a $20-per-gross-ton downtrend in the market in February versus January, in addition to a $422-per-gross-ton non-market adjustment upward on the top end of the range and a $357-per-gross-ton non-market adjustment upward on the bottom end of the range compared with prices in January.

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

This price reflects a 0.0089-cent-per-lb or $20-per-gross-ton downtrend in the market in February versus January, as well as a broad 19.24-cent-per-lb non-market adjustment upward on the top end of the range and a 17.07-cent-per-lb non-market adjustment upward on the bottom end of the range. On a cents-per-lb basis, the 0.0089-cent downtrend between January and February is too marginal a number to factor into Fastmarkets’ calculation of the monthly trend.

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

This price reflects a $20-per-gross-ton downtrend in the market in February versus January, in addition to a $451-per-gross-ton non-market adjustment upward on the top end of the range and a $402-per-gross-ton non-market adjustment upward on the bottom end of the range compared with prices in January.

The specifications of the grades in question are as follows:

MB-STS-0257 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 pound/USD per gross ton
Publication: Monthly, typically before the 10th
Stainless steel scrap 430 bundles, solids, consumer buying price, delivered mill Pittsburgh, US cents/lb.

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

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, $/gross ton was up by $382 per gross ton at the top end of the range and up by $317 per gross ton at the bottom of the range compared with prices in January. This has been corrected.

The eleventh 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 end of the range and $402 per gross ton at the bottom end of the range compared with prices in January.)

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