Get started

Proposal to discontinue Cleveland, Pittsburgh machine shop turnings assessments

Fastmarkets proposes to discontinue its consumer buying prices for machine shop turnings in the Cleveland and Pittsburgh markets due to a lack of liquidity.

May 4, 2023
By Amy Hinton
Ferrous scrap Pricing notice

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.

What to read next
End of open consultation on methodology for ferro-chrome 50% Cr import, cif main Chinese ports and European high carbon ferro-chrome price assessments
Fastmarkets invited feedback from the industry on the methodology of its price assessments for ferro-chrome 50% Cr import, cif main Chinese ports, and European high carbon ferro-chrome, as part of its annual methodology review process.
May 5, 2026
 · 
By Fastmarkets pricing team
End of open consultation on methodology for ferro-tungsten basis 75% W, in-whs dup Rotterdam and tungsten APT 88.5% WO3 min cif Rotterdam and Baltimore duty-free price assessments
Fastmarkets invited feedback from the industry on the methodology of its price assessments for ferro-tungsten basis 75% W, in-whs dup Rotterdam, and tungsten APT 88.5% WO3 min cif Rotterdam and Baltimore duty-free, as part of its annual methodology review process.
May 5, 2026
 · 
By Fastmarkets pricing team
End of open consultation on methodology for ferro-molybdenum in-whs Rotterdam; molybdic oxide in-whs Rotterdam, Busan
Fastmarkets invited feedback from the industry on the methodology of its price assessments for ferro-molybdenum 65% Mo min, in-whs Rotterdam, $ per kg Mo; molybdenum drummed molybdic oxide 57% Mo min, in-whs Rotterdam, $ per lb Mo; and molybdenum MB drummed molybdic oxide Mo, in-whs Busan, $ per lb, as part of its annual methodology review process.
May 5, 2026
 · 
By Fastmarkets pricing team
Open consultation on annual methodology review for Asia recovered paper, Asia packaging paper and board: pricing notice
This consultation, which is open until June 2, 2026, seeks to ensure that our methodologies continue to reflect the physical market under indexation, in compliance with the International Organization of Securities Commissions (IOSCO) principles for Price Reporting Agencies (PRAs). This includes all elements of our pricing process, our price specifications and publication frequency. You can […]
May 5, 2026
 · 
By Shawn Wang
Launch of high-grade iron ore VIU indices for silica, alumina content, cfr Qingdao: pricing notice
The new indices have been introduced in response to feedback from index users requesting more pricing references for high-grade iron ore fines and their related VIU adjustments in the seaborne market, in addition to Fastmarkets’ existing coverage on mid-grade VIUs. The VIU penalties are calculated through a regression analysis that harnesses data points from Fastmarkets’ […]
May 4, 2026
 · 
By Norman Fong
Delayed publication of copper concentrates indices, coefficients
The publication of several Fastmarkets copper concentrates indices and coefficients was delayed by 18 minutes on Friday May 1 due to a procedural error.
May 1, 2026
 · 
By Fastmarkets pricing team