What is the US Midwest shredded scrap price?
Platts TSI Shredded scrap delivered US Midwest (FEMWD00) reflects the tradeable spot price for shredded ferrous scrap in the US Midwest market.
The assessment reflects shredded scrap steel according to ISRI 211 classification or equivalent, specifying homogenous 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 are normalized to ISRI211 where appropriate.
The assessment reflects shredded scrap transactions in the US Midwest market, including but not limited to major markets in Chicago, Detroit and St. Louis and region areas including Indiana, Iowa and Ohio.
The assessment process considers trade data in the United States: transactions from outside of the Midwest can be normalized where appropriate based on prevailing market fundamentals.
The assessment reflects shipments in minimum lots of 1,000 long tons on 30-day payment terms, for delivery 0-30 days after the date of assessment.
The US Midwest Shredded Scrap steel price is assessed in US dollars on a per long ton basis. The daily assessment timestamp is 3:30 p.m. Eastern Standard Time.
The Platts US Midwest Shredded Scrap price assessments are available in these services.