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The realignment follows market feedback of a discrepancy in reported prices for No1 busheling and actual market transaction prices.
The price for No1 busheling in both North Carolina and South Carolina was assessed at $440 per gross ton on Tuesday January 9, representing a $50 per ton month-on-month trend increase and a $45 per ton non-market adjustment.
The original notice, published on December 8, can be found here.
The specifications for the affected scrap grades are as follows:
MB-STE-0281 Steel scrap No1 busheling, consumer buying price, delivered mill North Carolina/VirginiaAssessment: No1 bushelingQuality: Clean steel scrap, not exceeding 12 inches in any dimensions, including new factory busheling (for example, sheet clippings, stampings, etc.). May not include old auto body and fender stock. Free of metal coated, limed, vitreous enameled, and electrical sheet containing over 0.50 percent silicon.Location: Delivered mill North Carolina/VirginiaUnit: USD per gross tonPublication: Monthly, typically before the 10thNotes: ISRI Code: 207
MB-STE-0323 Steel scrap No1 busheling, consumer buying price, delivered mill South CarolinaAssessment: No1 bushelingQuality: Clean steel scrap, not exceeding 12 inches in any dimensions, including new factory busheling (for example, sheet clippings, stampings, etc.). May not include old auto body and fender stock. Free of metal coated, limed, vitreous enameled, and electrical sheet containing over 0.50 percent silicon.Location: Delivered mill South CarolinaUnit: USD per gross tonPublication: Monthly, typically before the 10thNotes: ISRI Code: 207
To provide feedback on this decision, or if you would like to provide price information by becoming a data submitter to the ferrous scrap assessments, please contact Amy Hinton at pricing@fastmarkets.com. Please add the subject heading: FAO: Amy Hinton re: Carolinas busheling prices.
To see all of Fastmarkets’ pricing methodology and specification documents, go to https://www.fastmarkets.com/methodology.