SUBSCRIBER NOTE: Platts to publish Indian ferrous shredded scrap assessment

Following industry feedback, Platts will publish from December 1, 2014, a new weekly spot price assessment for Indian containerized ferrous shredded scrap CFR Nhava Sheva.

The assessment will comply with ISRI 211 classification or equivalent, specifying homogeneous and magnetically separated iron and steel scrap originating from automobiles, unprepared No. 1 and No. 2 steel, and miscellaneous baling and sheet scrap, with an average density of 70 lb/square foot.

Other grades of steel scrap can be normalized to ISRI 211 where appropriate.

The new weekly assessment would be made in US dollars per mt, timing of cargoes for delivery 2-8 weeks from date of publication, with a minimum 27-30 mt container.

Payment terms will be deemed 100% payment at sight with all variations normalized to this standard.

The price assessment would reflect the close of the London markets, time stamped at 1630, published at the end of the week on Friday, or closest business day.

The assessment would be published in Platts Metals Alert, Steel Markets Daily, and data-only packages will be available on Market Data, with monthly averages also available on the same services.

Please submit feedback, comments or questions to: Karen McBeth, karen_mcbeth@platts.com; Colin Richardson, colin_richardson@platts.com; Jitendra Gill, jitendra_gill@platts.com, with a cc to Francis Browne, francis_browne@platts.com and the pricegroup@platts.com by October 30, 2014.

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.