Platts to rename Turkish import shortsea ferrous scrap assessment, amend specifications

Platts, part of S&P Global Commodity Insights, will rename its A3 CFR Turkey scrap assessment to Shortsea HMS 1/2 (80:20) CFR Turkey, effective March 3.

Platts will also amend the grade assessed to HMS 1/2 (80:20), basis ReMA (ISRI) 200-206 inclusive.

Platts first proposed the renaming and specification changes on Nov. 6, 2024, in a subscriber note available here.

Following the market feedback to the proposal, Platts will amend the payment term specification to '95% payment prior to vessel discharge, remainder after inspection,' from the initial proposal of '95% payment after vessel discharge.'

The changes will better reflect the recent shift in Turkish import trade flow to Romanian and Bulgarian shortsea ferrous scrap, away from Russia-origin shortsea material.

The name change and the specification changes are summarized as follows:

All other specifications of the assessment will remain unchanged.

Full specifications can be found in the Global Steel, Ferrous Scrap, Ferroalloys and Noble Alloys guide, available here.

Platts CFR Turkey shortsea scrap assessments are published in SBB Steel Markets Daily, Steel Raw Materials Monthly and on Platts Connect.

The daily frequency assessment is published on fixed pages PMA1323 and STL1323. The related monthly average is published on the fixed pages PMA1362 and STL1362.

Please send all questions and comments to EMEAMetalsTeam@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 upon request.