Consultation to relist Pittsburgh machine shop turnings assessment

The consultation comes amid reports that liquidity has returned to the local market for that grade in the region.

An update to the consultation will be published on Friday May 10. 

Following the consultation, the assessment would be reinstated effective the June ferrous scrap settlement, dependent upon market feedback.

The price was originally delisted on June 1, 2023, following a 30-day consultation period. The decision notice can be found here while the original consultation notice can be found here.

The assessment of that price was previously suspended effective May 6, 2022, following a sustained period of reported illiquidity for machine shop turnings in the Pittsburgh market.

Specifications for the grade are as follows:

MB-STE-0309 Steel scrap machine shop turnings, consumer buying price, delivered mill Pittsburgh
Quality: Clean steel or wrought iron turnings, free of iron borings, nonferrous metals in a free state, scale, or excessive oil. May not include badly rusted or corroded stock.
Location: Delivered mill, Pittsburgh
Unit: USD per gross ton
Publication: Monthly, typically before the 10th
Notes: ISRI Code: 219

This price forms part of Fastmarkets’ scrap package.

For more information or to provide feedback on this pricing notice, or if you would like to provide price information by becoming a data submitter to these prices, please contact Amy Hinton by email at: pricing@fastmarkets.com. Please add the subject heading: “FAO: Amy Hinton Re: Pittsburgh Turnings.”

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.