Platts moves India shredded scrap assessment frequency to daily

Platts, part of S&P Global Commodity Insights, has increased the frequency of its CFR India containerized shredded scrap assessment from weekly to daily, effective June 3, 2024.

The change better reflects market liquidity and the growing importance of Indian imported shredded scrap in the raw materials mix of Indian steelmakers.

The frequency change affects the following assessments:

All other specifications of the assessment remain unchanged.

Platts first proposed the frequency change on April 17, in a subscriber note, available here: https://www.spglobal.com/commodityinsights/en/our-methodology/subscriber-notes/041724-platts-proposes-to-move-india-shredded-scrap-assessment-frequency-to-daily

Following market feedback, Platts notified of the frequency change in a subscriber note published May 3: https://www.spglobal.com/commodityinsights/en/our-methodology/subscriber-notes/050324-platts-to-move-india-shredded-scrap-assessment-frequency-to-daily

Full specifications can be found in the Global Steel, Ferrous Scrap, Ferroalloys and Noble Alloys guide, available at the following link:

https://www.spglobal.com/commodityinsights/en/our-methodology/methodology-specifications/metals/steel-ferrous-scrap-ferroalloys-and-noble-alloys-methodology

The Platts India shredded ferrous scrap assessment is published in SBB Steel Markets Daily and on Platts Connect. Platts publishes the daily frequency assessment on fixed pages PMA1326 and STL1326. The related monthly average assessments are published on the fixed pages PMA1362 and STL1362.

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