Platts eliminates high/low price ranges for US Midwest ferrous scrap assessments

Platts, part of S&P Global Commodity Insights, has removed high/low price ranges for three of its US Midwest ferrous scrap price assessments.

The ranges have been replaced with a single closing value, effective July 1.

The following US scrap price assessments are impacted by the change: No. 1 busheling (SB01001), plate and structural (SB01174), and heavy melting scrap 1/2 (SB01135).

The change aligns these assessments with the single closing value already published for US Midwest shredded scrap and US Southeast ferrous scrap assessments.

Platts originally published the proposal on March 25, and the relevant note can be found at: https://www.spglobal.com/commodityinsights/en/our-methodology/subscriber-notes/032524-platts-proposes-elimination-of-highlow-price-ranges-for-us-midwest-ferrous-scrap-assessments .

Following market consultation, the changes were confirmed in a subscriber note April 15: https://www.spglobal.com/commodityinsights/en/our-methodology/subscriber-notes/041524-platts-to-eliminate-highlow-price-ranges-for-us-midwest-ferrous-scrap-assessments.

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

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

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