Get started

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.

June 7, 2023
By Sean Barry
Ferrous scrap Pricing notice

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.

What to read next
Pricing Notice
Open consultation on annual methodology review for PIX Packaging Europe
Fastmarkets is inviting feedback from the industry on the pricing methodology for its PIX Packaging Europe indices as part of its announced annual methodology review process.
May 7, 2026
 · 
By Fastmarkets pricing team
Final decision on open consultation on methodology for Northern Europe, US HRC indices
Fastmarkets invited feedback from the industry on the pricing methodology for its steel hot-rolled coil index, domestic, exw Northern Europe, €/tonne (MB-STE-0028) and steel hot-rolled coil index, fob mill US Midwest, $/cwt (MB-STE-0184), via an open consultation process between March 25 and April 27, 2026.
May 7, 2026
 · 
By Fastmarkets pricing team
Delayed publication of Brazil alumina index adjustment to fob Australia, inferred prices
The publication of the alumina index adjustment was delayed by 31 minutes and the publication of the inferred alumina prices was delayed by 48 minutes. The following prices were affected: MB-ALU-0003 Alumina index adjustment to fob Australia index, Brazil, $ per dmtMB-ALU-0010 Alumina index inferred, fob Brazil, $ per dmtMB-ALU-0018 Alumina index inferred, fob India, $ per tonneMB-ALU-0019 Alumina […]
May 7, 2026
End of open consultation on methodology for US pig iron import assessment: pricing notice
This consultation, which was open until April 30, sought to ensure that our methodologies continue to reflect the physical market, 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 price under review was:MB-IRO-0004 […]
May 7, 2026
 · 
By Fastmarkets pricing team
Pricing Notice
Final decision on open consultation on methodology review for softwood wood products
Fastmarkets invited feedback from the industry on its pricing methodologies and product specifications for softwood wood products from March 31 through April 27 via an open consultation process. This consultation was done as part of our published annual methodology review process.
May 7, 2026
 · 
By Fastmarkets pricing team
Correction to rationale of copper concentrates TC index, cif Asia Pacific
The rationale for MB-CU-0287 copper concentrates TC index, cif Asia Pacific had erroneously stated that “The copper VIU was $0.18/t on May 1, up from $0.94/t on April 17.” This has been corrected to “The copper VIU was $0.18/t on May 1, down from $0.94/t on April 17.” The published price is unaffected by this change. These prices […]
May 6, 2026
 · 
By Fastmarkets pricing team