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PRICING NOTICE: Nickel scrap and alloy specs (update)

Oct 31, 2017 | 08:00 AM |

Tags  nickel scrap, nickel-chrome-copper alloys, nickel-chrome-iron alloys, stainless steel scrap, AMM pricing notice


AMM is seeking feedback on a proposal to launch 11 new grades of nickel scrap, nickel-chrome-copper alloys and nickel-chrome-iron alloys in the United States beginning Tuesday, October 17, 2017, subject to market consultation.

These prices will effectively replace six AMM nickel scrap prices, which will be delisted subject to a successful consultation period. The discontinued prices are: new nickel clips and solidsnickel turningsnew nickel-copper alloy clips and solidsnickel-copper alloy castingsnickel-copper alloy turnings and shavings and nickel-chrome-iron alloy solids.

A significant number of market participants, including large dealers, broker/processers and mills, have requested the changes. They contend that the publication of dealer and broker/processor prices with tighter and better-defined specifications will result in more representative prices.

The consultation period will end on October 9, 2017, with a goal of launching the new prices on October 17. For more details on the rationale behind these proposed changed please click here.

If implemented, the following assessments will be launched:

Specification: LAUNCH
Name: Nickel scrap solids
Location: Dealer and broker/processor prices for Pittsburgh, Chicago, Houston and Detroit.
Assessment type: Assessed range
Price/unit: US cents/lbs
Quality/shape: Scrap solids
Minimum chemical specification: 99.80% minimum primary nickel conforming to London Metal Exchange specification: ASTM B39-79 (2013) or GB/T 6516-2010 - Ni9990 grade specification: ASTM B39-79 (2013) or GB/T 6516-2010 - Ni9990 grade
Publication frequency: Twice monthly

Specification: LAUNCH
Name: Nickel turnings scrap
Location: Dealer and broker/processor prices for Pittsburgh, Chicago, Houston and Detroit.
Assessment type: Assessed range
Price/unit: US cents/lbs
Quality/shape: Turnings
Minimum chemical specification: Nickel 90.00% min.
Publication frequency: Twice monthly

Specification: LAUNCH
Name: Monel R-400 scrap solids and clips
Location: Dealer and broker/processor prices for Pittsburgh, Chicago, Houston and Detroit.
Assessment type: Assessed range
Price/unit: US cents/lbs
Quality/shape: Scrap clips and solids
Minimum chemical specification: Nickel 63.00%, Copper 28.00%. All residuals per consumer specifications
Publication frequency: Twice monthly

Specification: LAUNCH
Name: Monel scrap turnings
Location: Dealer and broker/processor prices for Pittsburgh, Chicago, Houston, and Detroit.
Assessment type: Assessed range
Price/unit: US cents/lbs
Quality/shape: Turnings
Minimum chemical specification: Nickel 63.00%, Copper 28.00%. All residuals per consumer specifications
Publication frequency: Twice monthly

Specification: LAUNCH
Name: Monel K-500 (castings) solid and clips
Location: Dealer and broker/processor prices for Pittsburgh, Chicago, Houston and Detroit.
Assessment type: Assessed range
Price/unit: US cents/lbs
Quality/shape: Scrap clips and solids
Minimum chemical specification: Nickel 63.00% min., Copper 27.00%, Aluminium 2.30%. All residuals per consumer specifications
Publication frequency: Twice monthly

Specification: LAUNCH
Name: Inconel 600 scrap clips and solids
Location: Dealer and broker/processor prices for Pittsburgh, Chicago, Houston, and Detroit.
Assessment type: Assessed range
Price/unit: US cents/lbs
Quality/shape: Scrap clips and solids
Minimum chemical specification: Nickel 76.00%, Chromium 15.50%, Balance Iron. Residuals per consumer specifications.
Publication frequency: Twice monthly

Specification: LAUNCH
Name: 309 Stainless steel scrap solids (nominal analysis)
Location: Dealer and broker/processor prices for Pittsburgh, Chicago, Houston and Detroit.
Assessment type: Assessed range
Price/unit: US cents/lbs
Quality/shape: Scrap solids
Minimum chemical specification: Nominal Nickel 12.00%, Chromium 25.00%, Balance Iron. Residuals per consumer specifications. Intrinsic values may differ from actual participant market prices.
Publication frequency: Twice monthly

Specification: LAUNCH
Name: 310 SS scrap solids
Location: Dealer and broker/processor prices for Pittsburgh, Chicago, Houston and Detroit.
Assessment type: Assessed range
Price/unit: US cents/lbs
Quality/shape: Scrap solids
Minimum chemical specification: Nominal Nickel 20.00%, Chromium 25.00%, Balance Iron. All residuals per consumer specifications. Intrinsic values may differ from actual participant market prices.
Publication frequency: Twice monthly

Specification: LAUNCH
Name: 330 SS scrap solids
Location: Dealer and broker/processor prices for Pittsburgh, Chicago, Houston and Detroit.
Assessment type: Assessed range
Price/unit: US cents/lbs
Quality/shape: Scrap solids
Minimum chemical specification: Nominal Nickel 35.00%, Chromium 15.00%, Balance Iron. All residuals per consumer specifications. Intrinsic values may differ from actual participant market prices.
Publication frequency: Twice monthly

Specification: LAUNCH
Name: Invar scrap clips and solids:
Location: Dealer and broker/processor prices for Pittsburgh, Chicago, Houston and Detroit.
Assessment type: Assessed range
Price/unit: US cents/lbs
Quality/shape: Scrap clips and solids
Minimum chemical specification: Nominal Nickel 35.00%, Chromium 15%, Balance Iron. All residuals per consumer specifications. Intrinsic values may differ from actual participant market prices.
Publication frequency: Twice monthly

Specification: LAUNCH
Name: Inconel 601 scrap clips and solids
Location: Dealer and broker/processor prices for Pittsburgh, Chicago, Houston and Detroit.
Assessment type: Assessed range
Price/unit: US cents/lbs
Quality/shape: Scrap clips and solids
Minimum chemical specification: Nominal Nickel 60.50%, Chromium 23.00%, Balance Iron. All residuals per consumer specifications. Intrinsic values may differ from actual participant market prices.
Publication frequency: Twice monthly

Specification: LAUNCH
Name: 17-4PH solids
Location: Dealer and broker/processor prices for Pittsburgh, Chicago, Houston and Detroit.
Assessment type: Assessed range
Price/unit: US cents/lbs
Quality/shape: Scrap solids
Minimum chemical specification: Nominal Nickel 4.0%, Chromium 16.5%, Copper 4.0. Balance Iron. All residuals per consumer specifications. Intrinsic values may differ from actual participant market prices.
Publication frequency: Twice monthly

If implemented, the following assessments will be discontinued.

Specification: DISCONTINUED
Name: New nickel clips and solids
Location US/Canada, specified city - dealer buying price, delivered to yard
Assessment type: Assessed range
Price/unit: US cents/lbs
Quality/shape: Shall consist of clean new sheet, plate, bar, tube and any other wrought nickel scrap solids.
Minimum chemical specification: Nickel min. 99.00%, cobalt max. 0.25%, copper max. 0.50%. Free of castings, as well as any foreign attachments or other contamination.
Publication frequency: Twice a month (approx. 1st & 15th)

Specification: DISCONTINUED
Name: Nickel turnings
Location US/Canada - Dealer buying price, delivered to yard
Assessment type: Assessed range
Price/unit: US cents/lbs (Canadian cities' prices are in local currency)
Quality/shape: Nickel turnings
Minimum chemical specification: Nickel min. 99.00%, cobalt max. 0.25%, copper max. 0.50%
Publication frequency: Twice a month (approx. 1st & 15th)

Specification: DISCONTINUED
Name: New nickel-copper alloy clips and solids
Location US/Canada, specified city - Dealer buying price, delivered to yard
Assessment type: Assessed range
Price/unit: US cents/lbs
Quality/shape: Clips/solids
Minimum chemical specification: Shall consist of new, clean Monel R and K solids and clippings. Free of cast material, foreign attachments and all other contamination.
Publication frequency: Twice a month (approx. 1st & 15th)

Specification: DISCONTINUED
Name: Nickel-copper alloy castings
Location US/Canada, specified city - Dealer buying price, delivered to yard
Assessment type: Assessed range
Price/unit: US cents/lbs
Quality/shape: Castings
Minimum chemical specification: Shall consist of various types of clean Monel castings, assaying minimum 60.00% nickel. Must be free of foreign attachments or any other contamination.
Publication frequency: Twice a month (approx. 1st & 15th)

Specification: DISCONTINUED
Name: Nickel-chrome-iron alloy solids
Location US/Canada, specified city - Dealer buying price, delivered to yard
Assessment type: Assessed range
Price/unit: US cents/lbs
Quality/shape: Solids
Minimum chemical specification: Nickel 76.00%, chromium 15.50%, iron 8.00%
Publication frequency: Twice a month (approx. 1st & 15th)

Specification: DISCONTINUED
Name: Nickel-copper alloy turnings and shavings
Location US/Canada, specified city - Dealer buying price, delivered to yard
Assessment type: Assessed range
Price/unit: US cents/lbs
Quality/shape: Shall consist of mixed Monel turnings and borings.
Minimum chemical specification: Min. 60.00% nickel content, on a dry basis.
Publication frequency: Twice a month (approx. 1st & 15th)

This notice was updated on October 13 to include one additional grade,17-4PH solids. To provide feedback regarding these changes or if you would like to provide price information by becoming a data submitter, please contact James Lawrence at james.lawrence@amm.com or tom.jennemann@metalbulletin.com.

To see all of AMM’s nonferrous scrap pricing methodology and specification documents, go to www.amm.com/pdf/Methodologies/AMM%20Nonferrous%20Scrap%20Methodology.pdf.





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