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The deadline will be amended from the second Friday of each month to publication by the final Friday of each month. The change is being made to ensure that all key market participants have concluded their monthly prices before the assessment is made.
The prices in question are:
MB-STE-0167 Steel scrap, E3 old thick scrap, domestic, delivered mill Italy, € per tonneMB-STE-0168 Steel scrap, E8 thin new production steel scrap, domestic, delivered mill Italy, € per tonneMB-STE-0849 Steel scrap, E40 shredded, delivered to mill Italy, € per tonneMB-STE-0169 Steel scrap, E3 old thick steel scrap, domestic, delivered mill Germany, € per tonneMB-STE-0415 Steel scrap, E8 thin new production steel, domestic, delivered consumer Germany, € per tonneMB-STE-0414 Steel scrap, E40 shredded, domestic, delivered consumer Germany, € per tonne
All other specification of the concerned prices will remain unchanged. The proposed specifications will be as follows:
MB-STE-0167 Steel scrap E3 old thick scrap domestic, delivered mill Italy, € per tonneQuality: More than 6mm thick in sizes not exceeding 1.5×0.5×0.5 metresQuantity: Minimum 300 tonnesLocation: Delivered to millTiming: PromptUnit: EUR per tonnePayment terms: Within 60 daysPublication: Monthly, by the final Friday of each month.
MB-STE-0168 Steel scrap E8 thin new production steel scrap domestic, delivered mill Italy, € per tonneQuality: Less than 3 mm thick in sizes not exceeding 1.5×0.5×0.5 metresQuantity: Minimum 300 tonnesLocation: Delivered to millTiming: PromptUnit: EUR per tonnePayment terms: Within 60 daysPublication: Monthly, by the final Friday of each month.
MB-STE-0849 Steel scrap E40 shredded, delivered to mill Italy, € per tonneQuality: Old steel scrap fragmentised into pieces not exceeding 200mm in any direction for 95% of the loadQuantity: Minimum 300 tonnesLocation: Delivered to millTiming: PromptUnit: € per tonnePayment: Within 60 daysPublication: Monthly, by the final Friday of each month.
MB-STE-0169 Steel scrap E3 old thick steel scrap domestic, delivered mill Germany, € per tonneQuality: More than 6mm thick in sizes not exceeding 1.5×0.5×0.5 metresQuantity: Minimum 300 tonnesLocation: Delivered to millTiming: PromptUnit: EUR per tonnePayment terms: Within 60 daysPublication: Monthly, by the final Friday of each month.
MB-STE-0414 Steel scrap E40 shredded domestic, delivered consumer Germany, € per tonneQuality: Old steel scrap fragmentised into pieces not exceeding 200mm in any direction for 95% of the loadQuantity: Minimum 300 tonnesLocation: Delivered to millTiming: PromptUnit: EUR per tonnePayment terms: Within 60 daysPublication: Monthly, by the final Friday of each month.
MB-STE-0415 Steel scrap E8 thin new production steel domestic, delivered consumer Germany, € per tonneQuality: Less than 3mm thick in sizes not exceeding 1.5×0.5×0.5 metresQuantity: Minimum 300 tonnesLocation: Delivered to millTiming: PromptUnit: EUR per tonnePayment terms: Within 60 daysPublication: Monthly, by the final Friday of each month.
These prices are part of the Fastmarkets scrap package.
The consultation period for this proposed amendment starts from Tuesday October 14 and will end on Tuesday November 11. The amendment will then take place, subject to market feedback, on Friday November 14.
To provide feedback on these prices, or if you would like to provide price information by becoming a data submitter to these prices, please contact Sean Barry by email at: pricing@fastmarkets.com and metalsrecycling@fastmarkets.com. Please add the subject heading “FAO: Sean Barry, re: European steel scrap.”
Please indicate if comments are confidential. Fastmarkets will consider all comments received and will make comments not marked as confidential available upon request.
To see all Fastmarkets’ pricing methodology and specification documents, go to the Fastmarkets methodology page.