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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 pricesAssessment: 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 cityUnit: US cents per pound/USD per gross tonPublication: Once a week. Tuesday
Assessment: 304 solids, clipsQuality: 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 cityUnit: US cents per pound/USD per gross tonPublication: Once a week. TuesdayAssessment: 304 turningsQuality: Nickel min. 7.00%, chromium min. 16.00%Location: Delivered processor, US, specified cityUnit: US cents per pound/USD per gross tonPublication: Once a week. TuesdayAssessment: 430 bundles Quality: Chromium 16.00-18.00%, manganese 1.00%, silicon 1.00%Location: Delivered processor, US, specified cityUnit: US cents per pound/USD per gross tonPublication: Once a week. Tuesday
Assessment: 430 turningsQuality: Chromium 16.00-18.00%, manganese 1.00%, silicon 1.00%Location: Delivered processor, US, specified cityUnit: US cents per pound/USD per gross tonPublication: Once a week. Tuesday
Assessment: 409 bundles Quality: Chromium 11.00%Location: Delivered processor, US, specified cityUnit: US cents per pound/USD per gross tonPublication: Once a week. Tuesday
Assessment: 409 turnings Quality: Chromium 11.00%Location: Delivered processor, US, specified cityUnit: US cents per pound/USD per gross tonPublication: Once a week. Tuesday
Stainless steel scrap dealer buying pricesAssessment: 316 clips and solidsQuality: 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 cityUnit: US cents per pound/USD per gross ton (Canadian cities in Canadian currency)Publication: Every other Tuesday of each month
Assessment: 304 solids, clipsQuality: 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 cityUnit: US cents per pound/USD per gross ton (Canadian cities in Canadian currency)Publication: Every other Tuesday of each month
Assessment: 304 turningsQuality: Nickel min. 7.00%, chromium min. 16.00%Location: Delivered yard, US/Canada, specified cityUnit: US cents per pound/USD per gross ton (Canadian cities in Canadian currency)Publication: Every other Tuesday of each month
Assessment: 304 new clipsQuality: 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 cityUnit: US cents per pound/USD per gross ton (Canadian cities in Canadian currency)Publication: Every other Tuesday of each month
Assessment: 430 new clipsQuality: Prompt industrial scrap, chromium 16.00-18.00%, manganese 1.00%, silicon 1.00% Location: Delivered yard, US/Canada, specified cityUnit: 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 cityUnit: US cents per pound/USD per gross tonPublication: Once a week, Tuesday
Assessment: 304 turningsQuality: Nickel min. 7.00%, chromium min. 16.00%Location: Delivered mill, US, specified city Unit: US cents per pound/USD per gross tonPublication: Once a week, TuesdayAssessment: 304 turningsQuality: Nickel min. 7.00%, chromium min. 16.00%Location: Delivered mill, US, specified cityUnit: US cents per pound/USD per gross tonPublication: Once a week, Tuesday
Dealer Buying Prices Montreal:MB-STS-0128Assessment: 316 clips and solidsQuality: 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 cityUnit: US cents per pound/USD per gross ton (Canadian cities in Canadian currency)Publication: Every other Tuesday of each month
MB-STS-0129Assessment: 304 solids, clipsQuality: 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 cityUnit: US cents per pound/USD per gross ton (Canadian cities in Canadian currency)Publication: Every other Tuesday of each month
MB-STS-0130Assessment: 304 turningsQuality: Nickel min. 7.00%, chromium min. 16.00%Location: Delivered yard, US/Canada, specified cityUnit: US cents per pound/USD per gross ton (Canadian cities in Canadian currency)Publication: Every other Tuesday of each month
MB-STS-0131Assessment: 304 new clipsQuality: 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 cityUnit: 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.