27 Sep 2021 | 18:09 UTC

Platts proposes to discontinue 4A assessment and to change UK ferrous scrap specifications

S&P Global Platts proposes to discontinue the UK domestic 4A New Steel Bales Dlvd Mill assessment (SB01007), from Jan. 4, 2022, due to illiquidity in the UK market.

Additionally, Platts proposes to change the quantity, timing and payment terms for two other UK domestic ferrous scrap price assessments, effective Nov. 26, 2021, to the following:

Assessment
Quantity
Timing
Payment
Grade OA Plate and Structural UK Dom Prod Dlvd Mill (SB01170)
300 mt minimum
Delivery within specified contract month
Within 60 days
3B Shredded Scrap UK Dom Prod Dlvd Mill (SB01004)
500 mt minimum
Delivery within specified contract month
Within 60 days

The current methodology specifications for the aforementioned assessments are:

Assessment
Quantity
Timing
Payment
Grade OA Plate and Structural UK Dom Prod Dlvd Mill (SB01170)
2,000 mt
Delivery within 60 days
At sight
3B Shredded Scrap UK Dom Prod Dlvd Mill (SB01004)
2,000 mt
Delivery within 60 days
At sight

The assessments are published in Platts Steel Business Briefing, Steel Markets Daily, Steel Price Report and in the Platts price database under the codes listed above.

Platts invites market participants to submit feedback on the proposal by Oct. 26, 2021. Please send any feedback, comments or questions to ferrous_emea@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 to the public upon request.