Platts clarifies US Scrap to Iron Ore daily ratio conversion factor

Platts, part of S&P Global Commodity Insights, clarifies that the long tons to metric tons conversion factor used in its US Scrap to Iron Ore daily ratio (AATIV00 ) is 1.02.

The conversion factor had previously been incorrectly stated in the Platts Global Steel, Ferrous Specifications Guide as 1.12 .

The US Scrap to Iron Ore ratio is published in the Platts price database, fixed pages STL1318, MTL1318 and Steel Markets Daily.

Platts low-carbon metals spreads and ratios provide price comparisons for usage of lower-carbon feedstocks versus traditional or higher-carbon feedstocks, which help reduce carbon emissions during steel production. The US scrap to iron ore ratio is underpinned by Platts US Midwest Delivered Shredded Scrap assessment and the Platts IODEX CFR China assessment for 62% iron ore fines.

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