Platts to launch first daily Mexican ferrous scrap assessments

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Platts, part of S&P Global Commodity Insights, will begin publishing new daily ferrous scrap price assessments in Mexico, effective Sept. 17, 2024.

The new assessments will complement Platts established suite of domestic steel assessments, including Mexican delivered hot-rolled and cold-rolled coils and rebar, and build on its comprehensive US ferrous scrap assessment offerings.

The launch responds to growing interest from market participants in additional spot pricing information for ferrous scrap. Scrap demand in North America is set to increase with Mexican and US steelmakers increasing electric-arc-furnace (EAF) capacity, as they focus on decarbonization and nearshoring opportunities.

The new assessments will reflect domestic #1 Busheling and Heavy Melting Scrap (HMS)1 scrap in Mexico, Free on Truck (FOT) Northeast, minimum of 500mt.

The new assessments will have the following specifications:

The assessments will be found under the following symbol codes:

Platts initially proposed the launch for Sept. 2, 2024, in a subscriber note published July 16 available at: https://www.spglobal.com/commodityinsights/en/our-methodology/subscriber-notes/071624-platts-proposes-launch-of-first-daily-mexican-ferrous-scrap-assessments .

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.

Platts may normalize information heard in the market with differing specifications, in order to meet the assessment specifications. Normalization brings market information in line with Platts assessed specifications.

The assessments, which will follow Platts Mexico publishing schedule, will be published on a daily basis and reflect a Sao Paulo time market close (4:30 pm).

The daily assessments and associated monthly averages will be published in Steel Markets Daily and World Steel Review and in the Platts price point database.

Please send all comments, feedback and questions LatAmMetalsteam@spglobal.com and pricegroup@spglobal.com.

For written comments, please provide a clear indication if 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.