Decision to adjust Cincinnati, Pittsburgh No1 bundles assessments: update

Following a 30-day consultation period, Fastmarkets has decided to realign its prices for No1 bundles in Cincinnati and Pittsburgh, including No1 industrial bundles in the latter market, effective with the May 2023 settlement.

Although Fastmarkets believes that its monthly trends have been correct, market feedback received indicates that pricing for the grade in those markets was no longer reflective of actual transaction levels.

The original pricing notice was published on April 4.

The specifications for the affected scrap grades are as follows:

Assessment: No1 bundles
Quality: New black steel sheet scrap, clippings or skeleton scrap, compressed or hand bundled, to charging box size, and weighing not less than 75 pounds per cubic foot. (Hand bundles are tightly secured for handling with a magnet.) May include Stanley balls or mandrel wound bundles or skeleton reels, tightly secured. May include chemically detinned material. May not include old auto body or fender stock. Free of metal coated, limed, vitreous enameled, and electrical sheet containing over 0.50 percent silicon.
Location: Delivered mill, US/Canada, specified city
Unit: USD per gross ton (Canadian cities in Canadian currency/net tons)
Publication: Monthly, typically before the 10th
Notes: ISRI Code: 208

Assessment: No1 industrial bundles
Quality: New production sheet scrap, clippings, or skeleton scrap, hydraulically compressed originating from a factory. Size: No more than 24 inches x 24 inches x 48 inches long with individual bundles weighing no more than 4,000 pounds. Density: 150 pounds per cubic foot minimum.
Location: Delivered mill, US/Canada, specified city
Unit: USD per gross ton (Canadian cities in Canadian currency/net tons)
Publication: Monthly, typically before the 10th

May’s published price for No1 bundles in Pittsburgh is $515 per gross ton, accounting for a $20 per ton month-on-month market downtrend and a $39 per ton upward non-market adjustment.

The published price for the grade in Cincinnati over the period is $540 per ton, comprising a $20 per ton market downtrend and an $80 per ton upward non-market adjustment.

To provide feedback on these prices, or if you would like to provide price information by becoming a data submitter to the ferrous scrap assessments, please contact Amy Hinton at Please add the subject heading: FAO: Amy Hinton re: No1 bundles, Cincinnati and Pittsburgh.

To see all of Fastmarkets pricing methodology and specification documents, go to

(Editor’s Note: This report was updated on Tuesday May 9 to include the May monthly assessment and adjustment for the prices.)

What to read next
The outlook for North American steel scrap prices has headed further into bearish territory ahead of June’s trade, with prices for all grades expected to fall again after a round of across-the-board decreases in May
Fastmarkets is inviting feedback on a change of publishing time for our ferro-chrome price in the Chinese domestic market as well as ferro-chrome import prices in Japan and South Korea, to 5-6pm Shanghai time from 2-3pm London time.
Fastmarkets is inviting feedback on a proposal change the publishing time for our silico-manganese, ferro-manganese and manganese ore port prices in China, to 5-6pm Shanghai time from 2-3pm London time.
The publication of Fastmarkets copper concentrates TC index, cif Asia Pacific was delayed on Friday March 26, due to a reporter error.
Fastmarkets FOEX invited feedback from the industry in an open consultation process between April 26 and May 24, 2023, on the pricing methodology for its PIX Packaging Europe price indices. The consultation was done as part of our annual methodology review process.
Fastmarkets RISI is inviting feedback from the industry on the pricing methodologies for Global Pulp, as part of its announced annual methodology review process.
We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.