Open consultation on IOSCO-audited steel scrap price assessments, indices

The consultation, which is open until Friday February 13, seeks to ensure that our audited methodologies and price specifications continue to reflect the physical markets for steel scrap, 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.

All our methodologies can be found via this link.

The prices subject to this annual review are as follows:

US
MB-STE-0232 Steel scrap No1 busheling, consumer buying price, delivered mill Chicago, $ per gross ton

MB-STE-0233 Steel scrap shredded auto scrap, consumer buying price, delivered mill Chicago, $ per gross ton

Taiwan
MB-STE-0464 Steel scrap HMS 1&2 (80:20 mix) US material import, cfr main port Taiwan, $ per tonne

Turkey
MB-STE-0416 Steel scrap HMS 1&2 (80:20 mix) North Europe origin, cfr Turkey, $ per tonne

MB-STE-0417 Steel scrap HMS 1&2 (80:20 mix) US origin, cfr Turkey, $ per tonne

India
MB-STE-0421 Steel scrap shredded, index, import, cfr Nhava Sheva, India, $ per tonne

To provide feedback on the annual review of the above-listed prices, please contact pricing@fastmarkets.com and metalsrecycling@fastmarkets.com. Please add the subject heading “FAO: Sean Barry, re: audited steel scrap IOSCO methodologies.”

Fastmarkets will publish the outcome of this annual review by Thursday February 19 including a summary of the feedback — with the exception of those responses marked as confidential. Any proposals to make material changes, discontinue or launch prices will involve a separate market consultation, the length of which will depend on how substantial the change is.

To see all Fastmarkets’ pricing methodology and specification documents, go to the Fastmarkets methodology page.