Metals & Mining Theme, Ferrous, Non-Ferrous

September 26, 2024

Platts to launch daily European stainless scrap assessment

Platts, part of S&P Global Commodity Insights, will launch a new daily price assessment for the European 18-8 stainless steel scrap clips and solids market, effective on Oct. 14.

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 published its proposal for the launch on Aug. 9 in a subscriber note available here, and extended the specification feedback period in a subscriber note available here.

Following market feedback, the quantity specification has been amended to one container, reflecting a minimum of 20 mt. Other quantities may be normalized to the assessment specification.

The assessment will reflect the following specifications:

Assessment European 18-8 Stainless Steel Scrap
Symbols CASSR00; CASSR03 (Monthly average); CASSS00 (USD conversion); CASSS03 (USD conversion monthly average)
Published Daily
Origin Any origin
Quality To meet ISRI "Sabot" specification, consisting of clean 18-8 type stainless steel clips and solids, containing min 16% chrome, min 7% nickel, as well as max 0.5% molybdenum, max 0.5% copper, max 0.045% phosphorous, and max 0.03% sulfur, and otherwise free of harmful contaminants.
Quantity One container (minimum 20 mt)
Dimensions N/A
Incoterms and location CIF Rotterdam
Timing Delivery within 60 days
Payment Cash against documents
UOM Eur/mt
Assessment timestamp 4:30pm London Time
Publishing schedule London

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 assessment, as well as its associated US dollars conversion, will be published on Platts Nonferrous Metals Alert pages PMA386 and STL386, Platts Metals daily, while the associated monthly averages will be published in Metals Week, Metals Monthly Price Notification and Steel Raw Materials Monthly. The first monthly average calculations will update on Nov. 29, reflecting the average of daily assessments published throughout November.

Please send all comments and feedback to EMEAMetalsTeam@spglobal.com and pricegroup@spglobal.com.

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.