Platts clarifies outright prices take priority in its UK ferrous scrap assessments

S&P Global Platts wishes to clarify that it prioritizes transparent and verifiable data that has been tested in the market and reflects the mutually-agreed outright price in its assessment of the spot ferrous scrap market in the UK.

In the absence of outright price information, Platts may consider other market information, including but not limited to, weekly or monthly price changes and market indications and information from regional and global ferrous scrap and related markets.

This data treatment principle relates to all metals markets and is consistent with its price assessment methodology which can be found here, relating to the following assessments, published in Platts Steel Markets Daily, on the Platts Market center and in the Platts price database under the following codes:

Code Description

SB01170 Grade OA Plate and Structural UK Dom Prod Delivered Mill Weekly

SB01004 Platts 3B Shredded Scrap UK Dom Prod Delivered Weekly

SB01007 4A New Steel Bales UK Dom Prod Delivered Weekly

Following market heards were reported this week to Friday and will be used as the primary data to inform the assessment process:

Grade Curr. Price Incoterm Source

3B Shredded Scrap GBP 200-203 Dlvd Mill UK recycler

3B Shredded Scrap GBP 200-203 Dlvd Mill UK recycler

3B Shredded Scrap GBP 202 Dlvd Mill trading source

3B Shredded Scrap GBP 200-215 Dlvd Mill UK mill source

OA Plate & Structural GBP 210-215 Dlvd Mill UK recycler

OA Plate & Structural GBP 210-215 Dlvd Mill UK recycler

OA Plate & Structural GBP 210-215 Dlvd Mill UK mill source

4A New Steel bales GBP 220-225 Dlvd Mill UK mill source

4A New Steel bales GBP 215-220 Dlvd Mill UK recycler

Please send any feedback, comments or questions about this clarification to ferrous_emea@spglobal.com and pricegroup@spglobal.com.

For written comments, please provide a clear indication if 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.