Proposal to adjust Houston turnings price [update]

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

The dealer selling price for machine shop turnings in Houston was assessed at $145 per gross ton on Monday September 12, which represents a $15-per-ton month-on-month decrease and a $170-per-ton non-market adjustment.

The price fell by $30 per gross ton month on month to $0 per gross ton in August despite this market trending down by $40 per ton compared with July. Therefore, the adjustment made to this grade in September accounts for the $10-per-ton shortfall posted in August’s assessment.

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 August 10.

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

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

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