Platts to launch new US Southeast ferrous scrap assessments

Following market consultation, Platts, part of S&P Global Commodity Insights, will launch two new daily US Southeast ferrous scrap price assessments, effective June 3.

The new assessments will reflect domestic plate and structural and heavy melting 1/2 scrap purchased in minimum 1,000 long ton parcels, delivered to Southeast mills within 30 days.

The new assessments and their specifications will be as follows:

The new daily US Southeast price assessments will be timestamped to 3:30 pm US Eastern time.

The new assessments will complement existing Platts scrap coverage and reflect growing demand for scrap in the Southeast, as new steelmaking capacity continues to expand in the region.

All market information reported to Platts may be considered for publication, including firm bids, offers, transactions, indications of value, as well as any other data deemed relevant to the assessment process.

The daily assessments and associated monthly averages will be published on Platts Connect; Platts Market Center; on Platts Steel Alert fixed pages 1318 and 1362; in the publications Steel Markets Daily, World Steel Review and in the Platts price database.

Platts originally proposed the new assessments on March 26, and subsequently revised proposed payment term specifications in a subscriber note published April 11: https://www.spglobal.com/commodityinsights/en/our-methodology/subscriber-notes/041124-platts-extends-feedback-period-for-new-us-southeast-ferrous-scrap-assessments

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

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.