Proposal to discontinue Philadelphia foundry grades

Fastmarkets proposes to discontinue foundry grade price assessments included in its Philadelphia consumer buying price series due to a lack of liquidity.

Detailed specifications follow below.

MB-STE-0291
Assessment: Cut structural/plate, 2’ max
Quality: Cut structural and plate scrap, 2 feet and under. Clean open hearth steel plates, structural shapes, crop ends, shearings, or broken steel tires. Dimensions not less than ¼ inch in thickness, not over 2 feet in length and 18 inches in width. Phosphorus or sulfur not over 0.05 percent.
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
Notes: ISRI Code: 237

MB-STE-0292
Assessment: Cut structural/plate, 3’ max
Quality: Cut structural and plate scrap, 3 feet and under. Clean open hearth steel plates, structural shapes, crop ends, shearings, or broken steel tires. Dimensions not less than ¼ inch in thickness, not over 3 feet in length and 18 inches in width. Phosphorus or sulfur not over 0.05 percent.
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
Notes: ISRI Code: 236

MB-STE-0295
Assessment: Cupola cast
Quality: Clean cast iron scrap such as columns, pipes, plates, and castings of a miscellaneous nature, including automobile blocks and cast iron parts of agricultural and other machinery. Free from stove plate, burnt iron, brake shoes or foreign material. Cupola size, not over 24 inches x 30 inches, and no piece over 150 pounds in weight.
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
Notes: ISRI Code: 252

MB-STE-0296
Assessment: Clean auto cast
Quality: Clean auto blocks; free of all steel parts except camshafts, valves, valve springs, and studs. Free of nonferrous and non-metallic parts.
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
Notes: ISRI Code: 259

MB-STE-0297
Assessment: Unstripped motor blocks
Quality: Automobile or truck motors from which steel and nonferrous fittings may or may not have been removed. Free from driveshafts and all parts of frames.
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
Notes: ISRI Code: 260

MB-STE-0298
Assessment: Heavy breakable cast
Quality: Cast iron scrap over charging box size or weighing more than 500 pounds. May include cylinders and driving wheel centers. May include steel which does not exceed 10% of the casting by weight.
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
Notes: ISRI Code: 254

MB-STE-0299
Assessment: Drop broken machinery cast
Quality: Clean heavy cast iron machinery scrap that has been broken under a drop. All pieces must be of cupola size, not over 24 inches x 30 inches, and no piece over 150 pounds in weight.
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
Notes: ISRI Code: 261

MB-STE-0300
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

MB-STE-0301
Assessment: Random rails
Quality: Standard section tee, girder, and/or guard rails, to be free from frog and switch rails not cut apart, and contain no manganese, cast, welds, or attachments of any kind except angle bars. Free from concrete, dirt, and foreign material of any kind.
Location: Delivered mill, US/Canada, specified city
Unit: USD per gross ton (Canadian cities in Canadian currency/net tons)
Pricing point: Delivered mill price
Publication: Monthly, typically before the 10th
Notes: ISRI Code: 29

The consultation period for this price discontinuation will begin on Monday November 28 and end on Thursday December 29, with changes taking place, subject to market feedback, from Monday January 2.

To provide feedback on the proposal to discontinue these price assessments, please contact Thorsten Schier by email at pricing@fastmarkets.com. Please add the subject heading “FAO: Thorsten Schier, re: Philadelphia foundry grades.”

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

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