Fastmarkets AMM Shredded Scrap
We have assessed the domestic shredded scrap price for more than 25 years. Our shredded scrap index is widely accepted as the leading industry benchmark for this market. Our extensive editorial network of highly skilled market experts means it is the best-positioned to create a truly superior mechanism for representing the value of this highly liquid US shred spot market.
The resources and technology that support our pricing activities allow us to produce an index value the same week that transaction data is collected, making this index the most reactive in the market for the months transactions. Our ferrous scrap indices follow a rigorous methodology and highly sophisticated data processing model designed to ensure balance among all market participants. Buyers and sellers have an equal weighting in the final index price . The result is a reflective index that is intrinsically linked to spot market transactions. To establish the shredded scrap index as the benchmark you trust for your applications, or if youd like to become a data submitter to this price, please contact us.
View recent shredded market coverage
How do we assess the price of shredded scrap?
Our price reporters produce independent, fair and representative price assessments with our state-of-the-art pricing system and adherence to International Organization of Securities Commissions (IOSCO) principles.
The shredded scrap index is intrinsically linked to spot market transactions. Price reporters aim to talk to a broad sample of market participants specifically involved in the buying and selling of shredded scrap, with a good representation of both sides of the market, including buyers and sellers.
Data is collected from market participants directly involved in the spot business by telephone, email, digital messaging or direct submission. All input data received is kept confidential and stored in our secure online pricing database system. The index is then calculated using an objective mathematical model that ensures impartiality and removes subjectivity.
The shredded scrap index price is published each month with the following specifications:
Price: US dollars per gross ton
Pricing Point: Delivered Midwest mill
Delivery Points: Any mill in Illinois, Indiana, Michigan, Wisconsin, Iowa and Northwest Ohio
Specifications: ISRI Grade 211 - shredded scrap. Homogenous iron and steel scrap magnetically separated, originating from automobiles, unprepared No. 1. and No. 2 steel, miscellaneous baling and sheet scrap. Average density 70 pounds per cubic foot.
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: 4 p.m. EST
Rewriting the status quo on futures contracts
Our shredded scrap index underpins Nasdaq Futures Exchanges (NFXs) ferrous shredded scrap futures contract.
The new shredded futures contract trades 15 months forward. The 10-gross-ton contract is offered electronically and via voice broker from Sunday at 7pm New York time through Friday at 5pm New York time.
Prices, news and analysis
We disseminate our pricing data and market coverage through direct license agreements suited to your specific needs. More than 1,400 unique prices are assessed regularly across a range of metals, grades and locations and more than 10,000 stories are published every year. All of our data can be accessed through a variety of mechanisms including the website via Price Tracker, a custom data feed and many other solutions.
To license the shredded scrap index, or any other Fastmarkets AMM data, please contact us.