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The prices in question are:
MB-STE-0100 Steel scrap, HMS 1&2 (80:20 mix), export, fob main port UK, $ per tonneMB-STE-0099 Steel scrap shredded, export, fob main port UK, $ per tonneMB-STE-0095 Steel scrap shredded, import, cfr delivered Turkish port, $ per tonneMB-STE-0420 Steel scrap, HMS 1&2 (80:20 mix), fob Rotterdam, $ per tonne.
Increasing the frequency of assessment of these prices is necessary to bring adequate transparency to these liquid and dynamic markets. The move will bring these prices into line with Fastmarkets’ key daily Turkey HMS 1&2 (80:20) import prices, for both Europe- and US-origin material.
These prices are currently published weekly on Fridays. Only the publication frequency will be changed, and publication times will be adjusted to 4pm London time where necessary. All other specification relating to the prices in question will remain unchanged.
The proposed specifications will be as follows:
MB-STE-0100 Steel scrap HMS 1&2 (80:20 mix) export, fob main port UK, $ per tonneQuality: 18×36 inches to 24×60 inchesQuantity: Standard order size 1,000 tonnesLocation: FOB UKTiming: Up to 6 weeksUnit: USD per tonnePayment terms: LC, bank transferPublication: Daily, 4pm London time
MB-STE-0099 Steel scrap shredded export, fob main port UK, $ per tonneQuality: Standard size 200mmQuantity: Standard order size 1,000 tonnesLocation: FOB UKTiming: Up to 6 weeksUnit: USD per tonnePayment terms: LC, bank transferPublication: Daily, 4pm London time
MB-STE-0095 Steel scrap shredded import, cfr delivered Turkish port, $ per tonneQuality: Standard size 200mmQuantity: Standard order size 1,000 tonnesLocation: cfr Europe, USATiming: Up to six weeksUnit: USD per tonnePayment terms: LC, bank transferPublication: Daily, 4pm London time
MB-STE-0420 Steel scrap HMS 1&2 (80:20 mix), fob Rotterdam, $ per tonneQuality: HMS 1&2 (80:20 mix) NE origin compliant to ISRI specifications 200-206. Grades normalized: shredded, HMS 1&2 (70:30 mix), HMS 1&2 (90:10 mix), HMS 1, Bonus Grade, P&S, and A3 materialQuantity: Min 5,000 tonnesLocation: fob Rotterdam, NetherlandsTiming: Within six weeksUnit: USD per tonnePayment terms: Cash, other payment terms normalized to RotterdamPublication: Daily, 4pm London timeNotes: Bulk carrier from Northern Europe
These prices are part of Fastmarkets’ scrap package.
The consultation period for this proposed amendment starts on Monday May 12 and will end on Monday June 9. The amendment will then take place, subject to market feedback, on Monday June 16.
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 Ross Yeo by email at: pricing@fastmarkets.com. Please add the subject heading “FAO: Ross Yeo re: steel scrap prices.”
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: https://www.fastmarkets.com/methodology.