Open consultation for Taiwan scrap price assessment and Turkey scrap price indices – final decision

Fastmarkets invited feedback from the industry on its pricing methodology for its Taiwan steel scrap price assessment and its Turkey steel scrap price indices (US- and Europe-origin) as part of its annual methodology review process.

This consultation ran from April 21 to May 23, 2022, and sought to ensure that our methodologies continue to reflect the physical market under the price assessment for MB-STE-0464 steel scrap HMS 1&2 (80:20 mix), US material import, cfr main port Taiwan; and under the price indices for MB-STE-0416 steel scrap HMS 1&2 (80:20 mix) North Europe origin, cfr Turkey and MB-STE-0417 steel scrap HMS 1&2 (80:20 mix) US origin, cfr Turkey. This includes all elements of our pricing process, our price specifications and publication frequency.

No feedback was received as a result of the consultation and no material changes will be made.

The methodology will now be put through the IOSCO audit process.

You can find the current methodology for ferrous metals here while the ferrous scrap index methodology can be found here.

Fastmarkets invites feedback on a continual basis throughout the year.

To provide feedback on steel scrap HMS 1&2 (80:20 mix), US material import, cfr main port Taiwan or if you would like to provide price information by becoming a data submitter to this price, please contact Paul Lim by email at pricing@fastmarkets.com. Please add the subject heading ‘FAO: Paul Lim re: Taiwan Steel Scrap Assessment.’

To provide feedback on steel scrap HMS 1&2 (80:20 mix) North Europe origin and steel scrap HMS 1&2 (80:20 mix) US origin, cfr Turkey, or if you would like to provide price information by becoming a data submitter to this price, please contact Ross Yeo by email at pricing@fastmarkets.com. Please add the subject heading ‘FAO: Ross Yeo re: Turkey Steel Scrap Indices.’

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

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