Launch of Fastmarkets’ US Midwest shredded auto scrap to rebar differential

Fastmarkets has launched a MB-STE-0935 Steel reinforcing bar (rebar), differential to shredded auto scrap Chicago, fob mill US, $/gross ton to complement its existing suite of steelmaking raw materials to finished product differentials on Wednesday July 23.

This strategic launch is designed to offer the market a single reference price denoting the differential between steel reinforcing bar and one of the key benchmark scrap grades — shredded auto scrap — composite in the production of that product.

The pricing notices for previously-launched raw materials to semi-finished and finished steel differentials can be found here.

The specifications for this differential are:
MB-STE-0935 Steel reinforcing bar (rebar), differential to shredded auto scrap Chicago, fob mill US, $/gross ton
Quality: Grade 60, No5. ASTM A615 and equivalent; Wrought iron and/or steel scrap ¼ inch and over in thickness. Individual pieces not over 60 inches x 24 inches (charging box size) prepared in a manner to insure compact charging
Location: Fob mill US Midwest
Unit: USD per gross ton
Publication: Weekly, Wednesday, 5pm EST
Notes: Raw materials surcharges included. This differential calculates the price spread (in $/gross ton) of MB-STE-0170 Fastmarkets’ Steel reinforcing bar (rebar), fob mill US, $/cwt above the price of MB-STE-0233 Fastmarkets’ Steel scrap shredded auto scrap, consumer buying price, delivered mill Chicago, $/gross ton assessment.

This price forms part of Fastmarkets’ steel package.

To provide feedback on these prices, or if you would like to provide price information by becoming a data submitter to these prices, please contact Amy Hinton or Dan Hilliard by email at: pricing@fastmarkets.com. Please add the subject heading “FAO: Amy Hinton/Dan Hilliard, re: steel to scrap, raw materials differentials.”

Please indicate if comments are confidential. Fastmarkets will consider all comments received and will make comments not marked as confidential available upon request.

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