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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.

October 10, 2022
By Sean Barry
Ferrous scrap Pricing notice

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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