Proposal to update US stainless scrap prices

Fastmarkets is proposing a comprehensive update of its stainless steel scrap prices to bring them in line with its global price reporting agency standards.

The planned update consists of a number of steps, including a proposal to consolidate the price assessments for stainless steel scrap in the United States.

For the stainless steel scrap broker/processing prices, Fastmarkets proposes to consolidate the US cities it assess into a single delivered processor price for each grade, with that price to be based off an assessment of the various inputs Fastmarkets receives. The name for these markets would also be changed to processor buying prices. The frequency of the market assessment would remain weekly on Tuesday.

For the stainless steel scrap dealer buying prices, Fastmarkets proposes to consolidate the US cities it assesses into a single US price range, delivered yard, across all grades. Dealer buying prices would continue to be assessed every other Tuesday of each month or every other Wednesday of each month.

Fastmarkets is also proposing to delist its current set of stainless steel scrap export yard buying prices and dealer buying prices for Montreal, Canada, due to a lack of liquidity.

The monthly stainless steel scrap consumer buying prices will continue to be published and will be unaffected by these changes.

Following the proposed update, Fastmarkets expects to initiate another consultation in 2023 on the potential launch of price assessments for additional grades of stainless steel scrap and nickel alloys.

A 30-day consultation period for this proposal begins on Monday September 19 and will end on Tuesday October 18. An update to this notice will be published on Wednesday October 19.

The following prices would be affected by the proposed changes:
Stainless steel scrap broker/processor buying prices
Assessment: 316 solids, clips
Quality: Nickel 10.00-14.00%, chromium 16.00-18.00%, molybdenum 2.00- 3.00%, manganese max. 2.00%, carbon max. 0.08%
Location: Delivered processor, US, specified city
Unit: US cents per pound/USD per gross ton
Publication: Once a week. Tuesday

Assessment: 304 solids, clips
Quality: Nickel min. 7.00%, chromium min. 16.00%, molybdenum max. 0.50%, copper max. 0.50%, phosphorous max. 0.45%, sulfur max. 0.30%
Location: Delivered processor, US, specified city
Unit: US cents per pound/USD per gross ton
Publication: Once a week. Tuesday
Assessment: 304 turnings
Quality: Nickel min. 7.00%, chromium min. 16.00%
Location: Delivered processor, US, specified city
Unit: US cents per pound/USD per gross ton
Publication: Once a week. Tuesday
Assessment: 430 bundles
Quality: Chromium 16.00-18.00%, manganese 1.00%, silicon 1.00%
Location: Delivered processor, US, specified city
Unit: US cents per pound/USD per gross ton
Publication: Once a week. Tuesday

Assessment: 430 turnings
Quality: Chromium 16.00-18.00%, manganese 1.00%, silicon 1.00%
Location: Delivered processor, US, specified city
Unit: US cents per pound/USD per gross ton
Publication: Once a week. Tuesday

Assessment: 409 bundles
Quality: Chromium 11.00%
Location: Delivered processor, US, specified city
Unit: US cents per pound/USD per gross ton
Publication: Once a week. Tuesday

Assessment: 409 turnings
Quality: Chromium 11.00%
Location: Delivered processor, US, specified city
Unit: US cents per pound/USD per gross ton
Publication: Once a week. Tuesday

Stainless steel scrap dealer buying prices
Assessment: 316 clips and solids
Quality: Nickel 10.00-14.00%, chromium 16.00-18.00%, molybdenum 2.00- 3.00%, manganese max. 2.00%, carbon max. 0.08%
Location: Delivered yard, US/Canada, specified city
Unit: US cents per pound/USD per gross ton (Canadian cities in Canadian currency)
Publication: Every other Tuesday of each month

Assessment: 304 solids, clips
Quality: Nickel min. 7.00%, chromium min. 16.00%, molybdenum max. 0.50%, copper max. 0.50%, phosphorous max. 0.45%, sulfur max. 0.30%
Location: Delivered yard, US/Canada, specified city
Unit: US cents per pound/USD per gross ton (Canadian cities in Canadian currency)
Publication: Every other Tuesday of each month

Assessment: 304 turnings
Quality: Nickel min. 7.00%, chromium min. 16.00%
Location: Delivered yard, US/Canada, specified city
Unit: US cents per pound/USD per gross ton (Canadian cities in Canadian currency)
Publication: Every other Tuesday of each month

Assessment: 304 new clips
Quality: Prompt industrial scrap, nickel min. 7.00%, chromium min. 16.00%, molybdenum max. 0.50%, copper max. 0.50%, phosphorous max. 0.45%, sulfur max 0.30%
Location: Delivered yard, US/Canada, specified city
Unit: US cents per pound/USD per gross ton (Canadian cities in Canadian currency)
Publication: Every other Tuesday of each month

Assessment: 430 new clips
Quality: Prompt industrial scrap, chromium 16.00-18.00%, manganese 1.00%, silicon 1.00% Location: Delivered yard, US/Canada, specified city
Unit: US cents per pound/USD per gross ton (Canadian cities in Canadian currency)
Publication: Every other Tuesday of each month

To be discontinued

Export Yard Buying:
Assessment: 304 solids, clips
Quality: Nickel min. 7.00%, chromium min. 16.00%, molybdenum max. 0.50%, copper max. 0.50%, phosphorous max. 0.45%, sulfur max 0.30%
Location: Delivered mill, US, specified city
Unit: US cents per pound/USD per gross ton
Publication: Once a week, Tuesday

Assessment: 304 turnings
Quality: Nickel min. 7.00%, chromium min. 16.00%
Location: Delivered mill, US, specified city
Unit: US cents per pound/USD per gross ton
Publication: Once a week, Tuesday
Assessment: 304 turnings
Quality: Nickel min. 7.00%, chromium min. 16.00%
Location: Delivered mill, US, specified city
Unit: US cents per pound/USD per gross ton
Publication: Once a week, Tuesday

Dealer Buying Prices Montreal:
MB-STS-0128
Assessment: 316 clips and solids
Quality: Nickel 10.00-14.00%, chromium 16.00-18.00%, molybdenum 2.00- 3.00%, manganese max. 2.00%, carbon max. 0.08%
Location: Delivered yard, US/Canada, specified city
Unit: US cents per pound/USD per gross ton (Canadian cities in Canadian currency)
Publication: Every other Tuesday of each month

MB-STS-0129
Assessment: 304 solids, clips
Quality: Nickel min. 7.00%, chromium min. 16.00%, molybdenum max. 0.50%, copper max. 0.50%, phosphorous max. 0.45%, sulfur max. 0.30%
Location: Delivered yard, US/Canada, specified city
Unit: US cents per pound/USD per gross ton (Canadian cities in Canadian currency)
Publication: Every other Tuesday of each month

MB-STS-0130
Assessment: 304 turnings
Quality: Nickel min. 7.00%, chromium min. 16.00%
Location: Delivered yard, US/Canada, specified city
Unit: US cents per pound/USD per gross ton (Canadian cities in Canadian currency)
Publication: Every other Tuesday of each month

MB-STS-0131
Assessment: 304 new clips
Quality: Prompt industrial scrap, nickel min. 7.00%, chromium min. 16.00%, molybdenum max. 0.50%, copper max. 0.50%, phosphorous max. 0.45%, sulfur max 0.30%
Location: Delivered yard, US/Canada, specified city
Unit: US cents per pound/USD per gross ton (Canadian cities in Canadian currency)
Publication: Every other Tuesday of each month

To provide feedback on this proposal, or if you would like to provide price information by becoming a data submitter to the stainless steel scrap assessments, please contact Sean Barry at pricing@fastmarkets.com. Please add the subject heading: “FAO: Sean Barry re: stainless scrap.”

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

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