Delay to US domestic ferrous scrap settlement for June

Fastmarkets advises that, as of Friday June 9, some regional ferrous scrap prices and markets have not settled for June; Fastmarkets typically settles these markets on or before the 10th of each month.

June 9, 2023

By Amy Hinton

The prices and markets not settled by Saturday June 10 include:

MB-STE-0598 Steel scrap punchings and plate, consumer buying price, delivered mill Pittsburgh
MB-STE-0653 Steel scrap punchings and plate, broker buying price, fob Cleveland
Ferrous scrap domestic consumer buying prices, Hamilton, Ontario
Ferrous scrap domestic consumer buying prices, Montreal

The delay in these settlements results from buyers and sellers being unable to agree on prices within the traditional timeframe. Negotiations will continue in the week to June 16, and Fastmarkets will updates its assessments with the settled prices as soon as that information is made available.

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

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