Open consultation on methodology for Saudi Arabia domestic steel scrap index

Fastmarkets is inviting feedback from the industry on the pricing methodology for its MB-STE-0939 steel scrap HMS 1&2 index, domestic composite, delivered Saudi Arabia assessment, as part of its annual methodology review process.

March 11, 2026

This consultation, which is open until April 8, 2026, seeks 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 is:
MB-STE-0939 Steel scrap HMS 1&2 index, domestic composite, delivered Saudi Arabia, riyals/tonne

The current methodology for Saudi Arabia domestic ferrous scrap index can be found here.

Please send any questions or comments by April 8, 2026, to pricing@fastmarkets.com and metalsrecycling@fastmarkets.com. Please indicate if comments are confidential. Fastmarkets will consider all comments received and will make comments not marked as confidential available upon request.

Fastmarkets will publish the outcome of this methodology review by April 15, 2026, 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.