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The tonnage specifications will be updated to a minimum of 500 tonnes (previously 500-5,000 tonnes), recognizing that higher tonnages are often transacted in the physical market.
Fastmarkets also clarifies that these assessments do not include EU Carbon Border Adjustment Mechanism (CBAM) costs.
The new specifications are as follows with amendments in italic:
MB-STE-0047 – Steel hot-rolled coil import, cfr main port Southern Europe, €/tonne Quality: Width 1,200-1,300 mm, thickness 3-4 mm. Standard extras for dimensions excluded Quantity: Minimum 500 tonnes Location: CFR Southern Europe Timing: 8-12 weeks Unit: EUR/tonne Publication: Weekly. Wednesday, 2-3pm London time Notes: CBAM costs not included MB-STE-0046 – Steel hot-rolled coil import, cfr main port Northern Europe, €/tonne Quality: Width 1,200-1,300 mm, thickness 3-4 mm. Standard extras for dimensions excluded Quantity: Minimum 500 tonnes Location: CFR Northern Europe Timing: 8-12 weeks Unit: EUR/tonne Publication: Weekly. Wednesday, 2-3pm, London time Notes: CBAM costs not included
MB-STE-0044 – Steel cold-rolled coil import, cfr main port Northern Europe, €/tonne Quality: Width 1,200-1,300 mm, thickness 1 mm. Standard extras for dimensions excluded Quantity: Minimum 500 tonnes Location: CFR Northern Europe Timing: 8-12 weeks Unit: EUR/tonne Publication: Weekly, Wednesday, 2-3pm, London time Notes: CBAM costs not included
MB-STE-0045 – Steel cold-rolled coil import, cfr main port Southern Europe, €/tonne Quality: Width 1,200-1,300mm, thickness 1mm. Standard extras for dimensions excluded Quantity: Minimum 500 tonnesLocation: CFR Southern Europe Timing: 8-12 weeks Unit: EUR/tonne Publication: Weekly. Wednesday 2-3pm London time Notes: CBAM costs not included
MB-STE-0091 – Steel hot-dipped galvanized coil import, cfr main port Northern Europe, €/tonne Quality: Standard 1-2 mm thickness. Includes Z120 coating Quantity: Minimum 500 tonnes Location: CFR Northern Europe Timing: 8-12 weeks Unit: EUR/tonne Publication: Weekly, Wednesday, 2-3pm, London time Notes: CBAM costs not included MB-STE-0048 – Steel hot-dipped galvanized coil import, cfr main port Southern Europe, €/tonne Quality: Standard 1-2 mm thickness. Includes Z120 coating Quantity: Minimum 500 tonnes Location: CFR Southern Europe Timing: 8-12 weeks Unit: EUR/tonne Publication: Weekly. Wednesday 2-3pm London time Notes: CBAM costs not included
These prices are a part of the Fastmarkets steel package.
The consultation period for this proposed amendment starts from Wednesday November 26 and will end on Wednesday December 24. The amendment will then take place, subject to market feedback, on December 31.
To provide feedback on these prices or if you would like to provide price information by becoming a data submitter to any of the prices, please contact pricing@fastmarkets.com and steel@fastmarkets.com. Please add the subject heading “re: European import flat steel prices.” Please indicate if comments are confidential. Fastmarkets will consider all comments received and will make comments not marked as confidential available upon request.
You can find the updated methodology for ferrous products here. To see all Fastmarkets pricing methodology and specification documents, go to the Fastmarkets methodology page.