SUBSCRIBER NOTE: Platts to change Rotterdam ferrous scrap to HMS 70:30

After a period of industry feedback, effective January 2, 2015, Platts will change the basis of its FOB Rotterdam steel scrap assessment from heavy melting scrap I/II (80:20) to HMS I/II 70:30, to better reflect physical trade out of European ports. The assessment will continue to be in $/mt with a 4-6 week lead time, payment on sight. Pricing information from other locations, including CIF, can be normalized back where appropriate. The assessment appears in Steel Markets Daily and Platts Metals Alert. Please address any further questions to Colin Richardson, colin.richardson@platts.com, with a cc to pricegroup@platts.com