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.

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