Metals & Mining Theme, Ferrous, Non-Ferrous

January 23, 2025

Platts proposes to align long ton to metric ton conversion rate for three US scrap assessments

Platts, part of S&P Global Commodity Insights, proposes to update the long ton to metric ton conversion rate used for the US Scrap to Iron Ore daily ratio, Shredded Scrap Delivered US Midwest and #1 Busheling Scrap Delivered US Midwest, effective April 1, 2025.

This update would align the calculations with the 5 decimal place conversion factor of 1.01605 published in the S&P Global Commodity Insights Conversion base rates guide.

The conversion guide can be found here(opens in a new tab).

The affected assessments would be as follows:

Assessment Unit of measure Symbol
US Scrap Iron Ore Daily Ratio Long Ton to Metric Ton AATIV00
Platts TSI Shredded Scrap Delivered US Midwest Long Ton to Metric Ton FEMXD00
#1 Busheling Scrap N Amer Dom Prod Dlvd Mill Long Ton to Metric Ton SBO1001

The US Scrap to Iron Ore ratio is published in the Platts price database, fixed pages STL1318, MTL1318 and Steel Markets Daily. The Platts Shredded Scrap Delivered US Midwest and #1 Busheling Scrap N America Delivered Mill $/mt conversions are published in the Platts price database.

Platts invites feedback, comments, and questions on this proposal to MetalsAmericas@spglobal.com and pricegroup@spglobal.com by Feb. 25, 2025.

For written comments, please provide a clear indication if the comments are not intended for publication by Platts for public viewing. Platts will consider all comments received and will make comments not marked as confidential available upon request.