Houston ferrous scrap market transition

Fastmarkets made the decision to transition the pricing of Houston ferrous scrap prices from dealer selling to consumer buying assessments in August 2022.

This decision followed a 60-day market consultation period launched at the beginning of June 2022; an update to the proposal was published in early August.

Before the official launch of the new Houston ferrous scrap consumer buying prices in January 2023, Fastmarkets published four months of preliminary consumer buying prices from September to December via PDF.

The changeover to a consumer buying assessment from a dealer selling assessment took place this month; at that time, the publication of Houston ferrous scrap dealer selling prices and the accompanying consumer buying trend ceased.

The table below illustrates the last month of preliminary consumer buying prices in December 2022 alongside the new, officially published prices for January 2023 as well as the month-on-month consumer buying trend.

01-13-23_Houston ferrous scrap trends.jpg

To account for the discontinuation of the published consumer buying trend, Fastmarkets will publish pricing notices to clarify the month-on-month market trend for Houston consumer buying up through the March 2023 settlement.

For more information or to provide feedback on this notice, or if you would like to provide price information by becoming a data submitter for these prices, please contact Amy Hinton by email at pricing@fastmarkets.com. Please add the subject heading: FAO: Amy Hinton, Re: Houston ferrous scrap market transition.

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

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