Fastmarkets invited feedback from the industry on the pricing methodology for steel scrap HMS 1&2 (80:20 mix) US material import, cfr main port Taiwan, $/tonne (MB-STE-0464), via an open consultation process between June 1 and July 1, 2021.
This consultation was done as part of our published annual methodology review process.
No feedback was received during the consultation period and therefore no changes will be made to the methodologies at this stage.
During the consultation period, however, market participants suggested that Fastmarkets should also study the feasibility of launching of other related products such as hot-briquetted iron and pig iron on a cfr China basis.
This consultation, sought to ensure that our methodologies continue to reflect the physical market under indexation, in compliance with the International Organization of Securities Commissions (IOSCO) principles for Price Reporting Agencies (PRAs). This includes all elements of our pricing process, our price specifications and publication frequency.
You can find the current methodology for steel scrap HMS 1&2 (80:20 mix) US material import, cfr main port Taiwan, $/tonne
here.
To see all Fastmarkets' pricing methodology and specification documents go to
https://www.fastmarkets.com/ about-us/methodology.