PRICE NOTICE: US ferrous scrap export index
Apr 25, 2018 | 11:08 AM
American Metal Market is proposing to change the outlier filter on its US ferrous scrap export index, effective May 25.
Currently, all data points collected by American Metal Market that vary by more than 4% from the calculated index are excluded from the final iteration. The proposal is to increase that outlier filter to 10% to capture more pronounced volatility in the US ferrous scrap export market.
The number of transactions available for use in the index does vary depending on the prevailing market conditions, but American Metal Market seeks to utilize as many legitimate trades as possible.
In cases where prices appear out of line or anomalous, American Metal Market will continue to ask market participants to provide evidence of the transaction in the form of a signed contract. Participants have the right to decline to provide this, and American Metal Market will have the right to exclude prices that cannot be substantiated.
The consultation period for this proposed amendment will end one month from the date of this pricing notice, with changes taking place from May 25, subject to market feedback.
American Metal Market has no financial interest in the level or direction of the index.
To provide feedback on this change or if you would like to provide price information by becoming a data submitter for these prices, please contact Mei Ling Toh by email at firstname.lastname@example.org. Please add the subject heading FAO: Mei Ling Toh re: US ferrous scrap export index.
To see American Metal Market’s methodology for this index, click here.