Open consultation on methodology for Turkey steel scrap import indices

Fastmarkets is inviting feedback from the industry on the pricing methodologies for its index for steel scrap, HMS 1&2 (80:20 mix), North Europe origin, cfr Turkey (MB-STE-0416), and its index for steel scrap, HMS 1&2 (80:20 mix), US origin, cfr Turkey (MB-STE-0417), as part of its annual methodology review process.

This consultation, which is open until June 5, 2023, seeks to ensure that our methodologies continue to reflect the physical market under indexation, 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.

You can find the current methodology for the Turkey steel scrap import indices via this link.

Please send responses in writing, preferably in electronic format, to the following address: pricing@fastmarkets.com. Please add the subject heading ‘Turkey steel scrap import indices annual review, 2023.’ Please specify whether your response is confidential. Opinions offered in confidential responses may be referenced but will not be attributed in any way.

Fastmarkets will publish the outcome of this methodology review by June 7, 2023, 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: https://www.fastmarkets.com/methodology.

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