PRICING NOTICE: Implementation of data submission deadlines for US assessments

Fastmarkets AMM will implement new deadlines for data submissions to its steel, non-ferrous scrap, minor metals and ferro-alloys price assessments, effective April 15.

For price assessments that currently do not have a specified cutoff for data submissions, the new deadline will be 4pm New York time on the day the price is scheduled to be updated, with prices to be published by 5pm. These new deadlines will increase production efficiencies and bring pricing practices in the United States in line with global company standards.

Data received after 4pm will not be included in the calculation of the corresponding assessment. Only deals or trades, bids and offers submitted and market participants’ own assessments communicated to Fastmarkets AMM prior to the deadline will be included. Fastmarkets AMM’s assessments are reflective of the data gathered since the publication of the previous price.

The consultation period for this proposal was launched on February 27 and ended on Friday March 29.

This change affects assessments for US steel, non-ferrous scrap, minor metals and ferro-alloys prices, as listed in the current methodology documents here. It does not affect cutoff times for primary non-ferrous market assessments or Fastmarkets AMM indices, including the US Midwest hot-rolled coil index, US Midwest ferrous scrap indices or US ferrous scrap export indices.

The change also does not affect domestic ferrous scrap market assessments. A consultation proposing the implementation of data submission deadlines for the US ferrous scrap markets will be issued separately.

To provide feedback on this change, or if you would like to provide price information by becoming a data submitter for any of these price series, please contact Thorsten Schier by email at: pricing@fastmarkets.com. Please add the subject heading FAO: Thorsten Schier, re: Data Submission and Publication Deadlines.

Fastmarkets AMM has no financial interest in the level or direction of its assessments and indices.

What to read next
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 […]
The following prices were affected:MB-BI-0001 bismuth 99.99% Bi min, in-whs Rotterdam, $ per lbMB-CD-0001 cadmium 99.95% min, cif global ports, cents per lbMB-CD-0002 cadmium 99.99% min, cif global ports, cents per lb. These prices are part of Fastmarkets’ minor metals package. For more information, or to provide feedback on the delayed publication of these prices, or if you […]
After a consultation period from June 20 to July 18, Fastmarkets made the decision to discontinue these assessments because the outright prices no longer reflect market conditions, with the market shifting toward payables as the dominant pricing method. The affected prices are:MB-NIO-0003 nickel mixed hydroxide precipitate outright price, cif China, Japan and South Korea, $ per tonneMB-NIO-0005 nickel […]
The publication of Fastmarkets’ MB-CO-0004 cobalt alloy grade, in-whs Rotterdam and MB-CO-0005 cobalt standard grade, in-whs Rotterdam assessments for Wednesday July 23 was delayed because of a system error. Fastmarkets’ pricing database has been updated.
On reviewing the methodology specifications, Fastmarkets is proposing to update the quantity, location and payment terms of the price. The specifications would be as follows, with amendments in italics: MB-SI-0003 silicon, ddp US, US cents per lbQuality: Si: 98.50%, Fe: 0.50%, Al: 0.50%, Ca: 0.30%Quantity: Min 20 tonnesLocation:ddp USUnit: US cents per lbPayment terms: 30 days, other terms normalizedPublication: Weekly, Thursday 4-5pm […]
The lower end of the price range for Biodiesel SME B100 fob US Gulf price on Friday July 18 was erroneously published at $2.243 per gallon. This has been corrected to $4.243 per gallon. Fastmarkets’ pricing database has been updated to reflect this change. These prices are part of the Fastmarkets Ags oils, fats and biofuels price […]