Platts extends feedback period for proposed new daily European stainless scrap assessment

Platts, part of S&P Global Commodity Insights, is extending its feedback period regarding a proposal to launch a new daily price assessment for the European 18-8 stainless steel scrap clips and solids market to Sept. 20, and is pushing back proposed implementation to Oct. 14.

Platts first proposed the new assessments on Aug. 9, in a subscriber note available here: https://www.spglobal.com/commodityinsights/en/our-methodology/subscriber-notes/080924-platts-proposes-to-launch-daily-european-stainless-scrap-assessment

18-8 stainless steel scrap clips and solids is a commonly used reference for the grade-304 stainless steel scrap.

The scrap contains a minimum 16% chrome content and minimum 7% nickel content.

Platts is seeking additional feedback on all the proposed specifications listed in the table below, particularly the delivery location basis, timing, and incoterm.

The proposed assessment would reflect the following specifications:

Platts may normalize information heard in the market with differing specifications -- such as delivery location or incoterm -- to meet the assessment specifications.

Normalization brings market information in line with Platts-assessed specifications.

The proposed assessment, as well as its associated USD conversion, would be published on Platts Nonferrous Metals Alert pages PMA386 and STL386, Platts Metals daily, while the associated monthly averages would be published in Metals Week, Metals Monthly Price Notification and Steel Raw Materials Monthly.

Platts invites feedback on this proposal to EMEAMetalsTeam@spglobal.com and pricegroup@spglobal.com by close of business Sept. 20.

For written comments, please provide a clear indication if they 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.