Subscriber note: Platts proposes new US West Coast ferrous scrap assessment

Platts is proposing to publish, effective September 3, 2013, a new daily assessment covering the US West Coast ferrous scrap export market. The assessment would reflect the price of containerized heavy melting scrap I/II (80:20 blend) on a free alongside ship (FAS) Port of Los Angeles basis. The proposed assessment will be daily in frequency, with the unit of measure as $/mt. Proposed specifications will be heavy melting scrap, grade I and II in an 80:20 mix as specified by ISRI classification or equivalent 200 and 204. Other grades of steel scrap can be normalized to ISRI 200 and 204 where appropriate. The assessment will be normalized to a typical containerized load of 1,000 mt and payment terms are 100% on delivery. Please address any questions or feedback by August 5 to nicholas.tolomeo@platts.com with a copy to pricegroup@platts.com