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The quantity assessed has been expanded to cargo sizes of 5,000-50,000 tonnes from 5,000-20,000 tonnes while the timing has been lengthened to 6-10 weeks from 6-8 weeks. The amendment will capture more spot billet market transactions in Southeast Asia.
All historical data relating to this price prior to the amendments will remain available in the pricing section of the Fastmarkets website.
Following the amendments, the full specifications will be as follows:
Assessment: Steel billet import, cfr Southeast Asia, $/tonne Dimensions: 120x120mm to 150x150mm, length 12m Quantity: 5,000-50,000 tonnes Location: cfr Manila (other Southeast Asian ports are normalized) Timing: 6-10 weeks Unit: US$/tonne Payment terms: Letter of credit Publication: Daily, 5-6pm Singapore time
The amendments take effect from Tuesday August 20.
To provide feedback on this price or if you would like to provide price information by becoming a data submitter to this price, please contact Lee Ken Kiat by email at: pricing@fastmarkets.com. Please add the subject heading ‘FAO: Lee Ken Kiat, re: steel billet import, cfr Southeast Asia, $/tonne.’
To see all of Fastmarkets’ pricing methodology and specification documents, go to https://www.fastmarkets.com/about-us/methodology.