Subscriber note: Platts launches new US West Coast ferrous scrap price

Platts on September 3 launched a new price for US West Coast ferrous scrap. The assessment is for containerized heavy melting scrap I/II (80:20 blend) on an FAS Port of Los Angeles basis. The assessment will be daily and in US dollars. The specifications will be heavy melting scrap, grade I and II in a mix 80/20 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 amount will be a typical containerized quantity of 1,000 mt and payment terms are 100% on delivery. The assessment will be published in a narrow low-high range reflecting the majority of concluded deals, bids and offers discovered by Platts market reporters.