PRICING NOTICE: Fastmarkets starts publication of weekly Pakistan shredded steel scrap index

Following a month-long consultation period, Fastmarkets has launched its price for MB-STE-0887 Steel scrap shredded, index, import, cfr Port Qasim, Pakistan, $ per tonne, to complement its existing steel scrap prices in the South Asia region.

Fastmarkets already includes coverage of the Pakistan shredded steel scrap import market to supplement its India steel scrap market reports. The launch of the new index is, therefore, based on extensive pre-existing market data and knowledge.

The specifications for the MB-STE-0887 Steel scrap shredded, index, import, cfr Port Qasim, Pakistan, $ per tonne, are:
Quality: Shredded scrap, compliant to ISRI specifications 210-212.
Quantity: Minimum 500 tonnes
Location: cfr Port Qasim, Pakistan
Timing: Within six weeks
Unit: $ per tonne
Payment terms: Letter of credit
Publication: Weekly, Fridays at 4pm London time
Notes: Containerized, all origins.

Fastmarkets’ index methodology screens outliers and applies a quantity-weighted model to ensure that the Pakistan shredded index is the most robust in the industry. Fastmarkets has no financial interest in the level or direction of the index.

To provide feedback on this index, or if you would like to provide price information by becoming a data submitter to this index, please contact Carrie Bone by email at: pricing@fastmarkets.com. Please add the subject heading FAO: Carrie Bone, re: Pakistan shredded index.

To see all Fastmarkets’ pricing methodology and specification documents, go to: https://www.fastmarkets.com/about-us/methodology.