Decision to discontinue 2ft rail crops Chicago assessment

Fastmarkets will discontinue its consumer buying assessment for steel scrap rail crops 2ft max, delivered mill Chicago, effective July 1 amid a sustained lack of liquidity for that grade in that market.

June 7, 2023

By Amy Hinton

The decision follows a 30-day consultation period, launched on Monday May 8 and ending Wednesday June 7. The original pricing notice can be found here.

The specifications for the affected scrap grade are as follows:

MB-STE-0244
Assessment: Rail crops, 2’ max
Quality: Standard section, original weight of 50 pounds per yard and over, 18 inches long and under. 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
ISRI Code: 28A

All short-term forecasts associated with these prices produced by Fastmarkets, if any, will also be discontinued.

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 pricing@fastmarkets.com. Please add the subject heading: FAO: Amy Hinton re: Chicago 2ft rail crops.

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