Proposal to discontinue Cleveland, Pittsburgh machine shop turnings assessments

Pricing for machine shop turnings in Pittsburgh and Cleveland was temporarily suspended on that basis on May 6, 2022 and June 1, 2022. The original suspension notices can be found here and here.

Consumer buying activity of machine shop turnings in these markets has remained low during this period, indicating to Fastmarkets that they do not justify reinstating.

Detailed specifications follow below.

MB-STE-0309 Steel scrap machine shop turnings, consumer buying price, delivered mill Pittsburgh
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: Delivered mill, Pittsburgh
Unit: USD per gross ton
Publication: Monthly, typically before the 10th
Notes: ISRI Code: 219

MB-STE-0259 Steel scrap machine shop turnings, consumer buying price, delivered mill Cleveland
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: Delivered mill, Cleveland
Unit: USD per gross ton
Publication: Monthly, typically before the 10th
Notes: ISRI Code: 219

The consultation period for this price discontinuation will begin on Thursday May 4 and end on Thursday June 1, with changes taking place, subject to market feedback, Tuesday June 6. 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: Pittsburgh/Cleveland machine shop turnings.”

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