Proposal to adjust Houston ferrous scrap [update]

Following a consultation period and market feedback, Fastmarkets has realigned its dealer selling price for turnings in Houston, effective from the October 2022 monthly settlement.

The realignment follows market feedback on a discrepancy between machine shop turnings and other ferrous scrap grades in the Houston dealer selling market after September’s non-market adjustment. Given market feedback, the remaining grades in Houston will not be realigned.

The price for ferrous scrap turnings in Houston was assessed at $100 per gross ton on Monday October 10, representing a $15-per-ton month-on-month decrease and a $30-per-ton non-market adjustment.

The specifications for the affected scrap grade are as follows:

MB-STE-0353 Steel scrap machine shop turnings, dealer selling price, fob dealer yard Houston
Assessment: Machine shop turnings
Quality: Clean steel or wrought iron turnings, free of iron borings, nonferrous metals in a free state, scale, or excessive oil. May not include badly rusted or corroded stock.
Location: fob dealer yard Houston
Unit: USD per gross ton
Publication: Monthly
Notes: ISRI Code: 219

The original notice for this consultation period was published on September 21.

To provide feedback on this realignment, or if you would like to provide price information by becoming a data submitter to the ferrous scrap assessments, please contact Amy Hinton at pricing@fastmarkets.com. Please add the subject heading: FAO: Amy Hinton re: Houston price adjustment.

To see all of Fastmarkets’ pricing methodology and specification documents, go to https://www.fastmarkets.com/methodology.

What to read next
Fastmarkets proposes to launch Nordic sawn timber export prices for selected European markets and grades, while discontinuing the PIX Sawn Timber FAS Finland indices. The PIX sawn timber FAS Finland indices have not been widely adopted by the industry and the new price assessments will offer more end-market-specific data for major European markets and will […]
To increase transparency, Fastmarkets has further clarified how it handles price movements during periods of low liquidity. Factors that Fastmarkets may consider during times of low liquidity include, but are not limited to: market fundamentals such as changes in inventory levels, shipments, operating rates and export volumes; relative fundamentals of similar commodities in the same […]
Fastmarkets invited feedback from the industry on the pricing methodology for PIX Packaging GCC indices via an open consultation process between April 16 and May 14, 2025. This consultation was done as part of our published annual methodology review process. Full details of the prices covered by this consultation can be found here. No feedback […]
Fastmarkets is inviting feedback from the industry on the pricing methodology for the PIX Forest Biomass Finland price indices, as part of its announced annual methodology review process. This consultation, which is open until June 12, 2025, seeks to ensure that our methodologies continue to reflect the physical market under indexation, in compliance with the […]
The publication of the following price was delayed for 10 minutes: MB-ALU-0002 Alumina index, fob Australia, $/tonne This price is a part of the Fastmarkets Base Metals package. For more information or to provide feedback on the delayed publication of this price or if you would like to provide price information by becoming a data submitter […]
The publication of the affected prices was delayed for 17 minutes. The following metal prices were affected: MB-CO-0004 Cobalt alloy grade, in-whs Rotterdam, $/lb MB-CO-0005 Cobalt standard grade, in-whs Rotterdam, $/lb These prices are a part of the Fastmarkets minor metals price package. For more information or to provide feedback on the delayed publication of this price […]