SUBSCRIBER NOTE: Platts changes Rotterdam ferrous scrap to HMS I/II 70:30

Effective January 2, 2015, Platts will change the basis of its FOB Rotterdam steel scrap assessment from heavy melting scrap I/II (80:20) to HMS I/II 70:30 to better reflect physical trade out of European ports. The assessment will continue to be made in US dollars per mt, timing of cargoes for delivery 2-6 weeks from date of publication. Payment terms 100% payment at sight with all variations normalized to this standard. The daily price assessment reflects the close of the London markets, time stamped at 1630. The assessment is published in Platts Metals Alert and Platts SBB Steel Markets Daily, and data-only packages are available on Market Data, with monthly averages also available on the same services.