Although Fastmarkets believes that its monthly trends have been correct, there has been feedback from the market that bundles and busheling scrap in Alabama no longer reflect actual transaction prices, owing in part due to market dislocations from the peak of the Covid-19 pandemic last year.
As a result, Fastmarkets will hold a 30-day consultation period beginning Tuesday August 9, during which it invites comments and input from market participants. An update to this notice will be published on September 7. Any market adjustments to busheling and bundles pricing in Alabama will be made prior to the September monthly settlement.
The specifications for the affected scrap grades are as follows:
MB-STE-0215 Steel scrap No1 bundles, consumer buying price, delivered mill Alabama
Assessment: No1 bundles
Quality: New black steel sheet scrap, clippings or skeleton scrap, compressed or hand bundled, to charging box size, and weighing not less than 75 pounds per cubic foot. (Hand bundles are tightly secured for handling with a magnet.) May include Stanley balls or mandrel wound bundles or skeleton reels, tightly secured. May include chemically detinned material. May not include old auto body or fender stock. Free of metal coated, limed, vitreous enameled, and electrical sheet containing over 0.50 percent silicon.
Location: Delivered mill Alabama
Unit: USD per gross ton
Publication: Monthly, typically before the 10th
Notes: ISRI Code: 208
MB-STE-0216 Steel scrap No1 busheling, consumer buying price, delivered mill Alabama
Assessment: No1 busheling
Quality: Clean steel scrap, not exceeding 12 inches in any dimensions, including new factory busheling (for example, sheet clippings, stampings, etc.). May not include old auto body and fender stock. Free of metal coated, limed, vitreous enameled, and electrical sheet containing over 0.50 percent silicon.
Location: Delivered mill Alabama
Unit: USD per gross ton
Publication: Monthly, typically before the 10th
Notes: ISRI Code: 207
To provide feedback on this proposal, or if you would like to provide price information by becoming a data submitter to the ferrous scrap assessments, please contact Sean Barry at pricing@fastmarkets.com. Please add the subject heading: FAO: Sean Barry re: Alabama bundles/busheling prices.
To see all of Fastmarkets’ pricing methodology and specification documents, go to https://www.fastmarkets.com/methodology.
