Proposal to discontinue assessment for 2ft rail crops in Chicago

Fastmarkets proposes to discontinue its consumer buying price for steel scrap rail crops 2ft max, delivered mill Chicago, due to a lack of liquidity.

May 8, 2023

By Amy Hinton

The specifications for the affected scrap grade are as follows:

MB-STE-0244
Assessment: Rail crops, 2’ max
Quality: Standard section, original weight of 50 pounds per yard and over, 18 inches long and under. Location: Delivered mill, US/Canada, specified city
Unit: USD per gross ton (Canadian cities in Canadian currency/net tons)
Publication: Monthly, typically before the 10th
ISRI Code: 28A

The consultation period for this price discontinuation will begin on Monday May 8 and end on Wednesday June 7, with changes taking place, subject to market feedback, on July 1. All short-term forecasts associated with these prices produced by Fastmarkets, if any, will also be discontinued.

To provide feedback on these prices, 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: Chicago 2ft rail crops.

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