American Metal Market is not increasing the frequency of its shredded scrap index to the 10th of each month and every Friday and not expanding the footprint covered under the Midwest designation, following substantial market feedback.
The index will therefore continue to only be published at the end of the working day on the 10th of each month. The specifications for the price will remain as follows:
Price: US dollars per gross ton
Pricing Point: delivered Midwest mill
Delivery Points: any mill in Illinois, Indiana, Michigan, Wisconsin, Iowa and NW Ohio
Specifications: ISRI Grade 211
Homogeneous iron and steel scrap magnetically separated, originating from automobiles, unprepared No.1 and No. 2 steel, miscellaneous baling and sheet scrap. Average density 70 lbs per cu ft
Material Origin: all origins
Trade Size: 500 gross tons
Delivery Window: within 30 days
Payment Terms: net 30 days post delivery
Publication Date: 10th of each month (or following working day)
Publication Time: 4pm New York time
To provide feedback regarding these changes or if you would like to provide price information by becoming a data submitter, please contact North American steel and ferrous scrap editor Thorsten Schier or North American price development manager Grace Lavigne by email at email@example.com. Please add the subject heading FAO: Thorsten Schier or FAO: Grace Lavigne, re: Shredded scrap.