Platts aligns long tons to metric tons conversion rate for three US Scrap assessments

Platts, part of S&P Global Commodity Insights, has aligned the long tons (lt) to metric tons (mt) conversion rate used for the US Scrap to Iron Ore daily ratio, Platts TSI Shredded Scrap Delivered US Midwest and #1 Busheling Scrap North American Production Delivered Mill Lt to Mt conversions, effective April 1, 2025.

This update aligns 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 are as follows:

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

Platts initially proposed the changes in a subscriber note published Jan. 23. Following a period of market feedback, Platts communicated its decision to effect the changes on March 3.

Please send feedback, comments, or questions to MetalsAmericas@spglobal.com and pricegroup@spglobal.com.

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