Update to Cleveland ferrous scrap prices

Fastmarkets has updated its consumer buying price for steel scrap No1 heavy melt and cut structural/plate, 5’ max, delivered mill Cleveland, following the arrival of late information for the domestic ferrous scrap monthly trade in September.

September 14, 2022

By Sean Barry

The price for No1 heavy melt, which was published as sideways at $350 per gross ton on September 9, has been updated to $340 per ton on Wednesday September 14. This change reflects a decrease of $10 per ton for September compared with August.

The price for cut structural/plate, 5’ max, which was published as down $5 per ton at $365 per ton on September 9, has been updated to $360 per ton. This change reflects a decrease of $10 per ton for September compared with August.

Fastmarkets’ database has been updated on September 14 to reflect this change.

The specification of the affected prices is as follows:

MB-STE-0255 Steel scrap No1 heavy melt, consumer buying price, delivered mill Cleveland, $/gross ton
Assessment: No1 heavy melt
Quality: Wrought iron and/or steel scrap ¼ inch and over in thickness. Individual pieces not over 60 inches x 24 inches (charging box size) prepared in a manner to insure compact charging.
Location: Delivered mill price, US/Canada, specified city
Unit: USD per gross ton (Canadian cities in Canadian currency/net tons)
Publication: Monthly, typically before the 10th
Notes: A separate methodology for the AMM Midwest index is available.
ISRI Code: 200

MB-STE-0260 Steel scrap cut structural/plate 5ft max, consumer buying price, delivered mill Cleveland, $/gross ton
Assessment: Cut structural/plate, 5’ max
Quality: Cut structural and plate scrap, 5 feet and under. Clean open hearth steel plates, structural shapes, crop ends, shearings, or broken steel tires. Dimensions not less than 1/4 inch thickness, not over 5 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 ton)
Publication: Monthly, typically before the 10th
Notes: ISRI Code: 232

For more information or to provide feedback on this notice, or if you would like to provide price information by becoming a data submitter to these prices, please contact Sean Barry by email at pricing@fastmarkets.com. Please add the subject heading: FAO: Sean Barry, Re: No1 heavy melt and cut structural/plate, 5’ max, delivered mill Cleveland.

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