Industrial scrap settlements, drafted from the ticket and the agreement for your commercial desk.

An industrial load leaves its own record: the ticket with the weights, the inspector's grade and any notes on contamination or off-grade pieces, the container and the pickup date, and behind them the plant's purchase agreement with its pricing basis. Your commercial desk ties those together, looks up the published quote for the right issue, market and grade, applies the agreement's adjustment and any deductions, and issues the statement, load by load or for a whole period of loads at once.

In the test, AI works from copies of the same records and drafts each settlement: load by load, the grade as your inspector wrote it, the governing weight in the unit the price is quoted in, the price source and its date, the adjustment, the deductions and the amount, with every step shown. Nothing gets paid or sent, and your reviewer sets every draft beside the statement your desk issued.

The grade is a published definition, and plant scrap drifts out of it. ReMA's ISRI Specifications define 207, No. 1 Busheling, as clean steel scrap no larger than 2 feet by 5 feet, new factory clippings and stampings included, with old auto body and fender stock left out, along with metal coated, limed or vitreous enameled sheet and electrical sheet above a set silicon content. The ferrous guidelines forgive only a negligible amount of off-grade metal that customary handling can't avoid, so a stamping plant that starts tossing coated blanks in with its clippings is soon shipping something else. Machine shop turnings, 219, must be free of iron borings; the same turnings with cast iron borings mixed in are 220. In aluminum, Tooth is new clippings and solids of one specified alloy, while Tough is two or more alloys. The draft carries the grade your inspector recorded and lists any ticket note that points to a different one.

The ton depends on the metal. ReMA's nonferrous terms, the section it calls Apple, take a ton to be 2,000 pounds unless the contract says otherwise. Steel is often quoted by the gross ton instead: one city's scrap contract, in force from June 2017 to May 2019, priced its heavy melting steel that way and spelled out that a net long ton is 2,240 pounds. A ticket printed in pounds or short tons has to reach the unit of the quote before anything is multiplied, and the draft shows that conversion on every line.

The price is a formula on someone else's number. The same contract priced steel from the average No. 2 heavy melting quote for the St. Louis market in the second issue of Scrap Price Bulletin, less a fixed hauling amount per gross ton, with a smaller amount when city crews delivered the scrap themselves, and wanted a copy of the bulletin page closest to the pickup date attached to each weight ticket. Its copper was paid at a share of the low side of American Metal Market's quote for No. 2 heavy copper and wire, and insulated wire and mixed electric motors at a share of that copper price. So each draft names the publication, the issue or date, the market and the grade it read, and every share it applied.

Indexes end, and agreements outlive them. On November 5, 2025, Fastmarkets announced it would discontinue its No. 1 busheling index for delivered Midwest mills, quoted per gross ton, from January 2026, after the Chicago Mercantile Exchange's No. 1 busheling contract had moved to settling on Fastmarkets' own Chicago No. 1 busheling assessment in December 2024. Any agreement still written on the retired index needs its fallback clause read before the next month is priced. The draft does not pick a substitute; it holds the load and quotes the clause for your reviewer.

Weights, deductions and claims belong to the agreement. ReMA's Guidelines for Metals Transactions tell traders to state in the contract whose weights govern the settlement, to spell out any unit deductions for impurities, and to avoid calling them penalties. They also let a seller require claims for contamination or short weight within a set number of days after delivery. Some grades, Droid insulated copper wire among them, sell on a sample or recovery basis the two sides agree. Your reviewer will check that each draft used the governing weight, carried only deductions your grader recorded under terms the agreement allows, and held any load whose recovery figure or claim window it could not find.

With your reviewer's approval, the next month of plant loads gets the same drafting, for roughly 30 days.

Every statement waits for your commercial desk to check it, and payment and the statement reach the plant the way they do now.

Comparison continues on live loads. Any further job is your call, with a price of its own.