Final decision on open consultation on methodology for US Midwest ferrous scrap indices

Fastmarkets has, in line with our annual methodology review process, concluded a consultation that opened on May 4, 2023, inviting feedback on our methodology for our US Midwest ferrous scrap indices.

The consultation sought to ensure that our methodologies continue to reflect the physical market under indexation, in compliance with the International Organization of Securities Commissions (IOSCO) principles for Price Reporting Agencies (PRAs). This includes all elements of our pricing process, our price specifications and publication frequency.

The consultation closed on June 5, 2023, with no new comment or feedback received, suggesting that no material change is required to the existing methodology.

The consultation covered the methodologies for Fastmarkets’ steel scrap No1 heavy melt, index, delivered Midwest mill, $/gross ton (MB-STE-0424); steel scrap No1 busheling, index, delivered Midwest mill, $/gross ton (MB-STE-0422) and steel scrap shredded, index, delivered Midwest mill, $/gross ton (MB-STE-0423) as part of its annual methodology review process.

To provide comment or feedback on the content of the US Midwest ferrous scrap indices, or if you would like to provide price information by becoming a data submitter to these prices or indices, please email pricing@fastmarkets.com.

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

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Fastmarkets FOEX would like to thank for the feedback received during the consultation period. It was fully supportive to our current methodology. To summarize, this open consultation does not lead to material changes in the current methodology. A newly dated methodology document will be soon posted.
No feedback was received during the consultation period and therefore no changes will be made to the methodologies at this stage. This consultation, sought to ensure that our methodologies continue to reflect the physical market under indexation, in compliance with the International Organization of Securities Commissions (IOSCO) principles for Price Reporting Agencies (PRAs). This includes […]