Final decision on open consultation on methodology for US Midwest ferrous scrap indices

The consultation sought 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.

The consultation closed on June 5, 2023, with no new comment or feedback received, suggesting that no material change is required to the existing methodology.

The consultation covered the methodologies for Fastmarkets’ steel scrap No1 heavy melt, index, delivered Midwest mill, $/gross ton (MB-STE-0424); steel scrap No1 busheling, index, delivered Midwest mill, $/gross ton (MB-STE-0422) and steel scrap shredded, index, delivered Midwest mill, $/gross ton (MB-STE-0423) as part of its annual methodology review process.

To provide comment or feedback on the content of the US Midwest ferrous scrap indices, or if you would like to provide price information by becoming a data submitter to these prices or indices, please email pricing@fastmarkets.com.

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