The quality of the PCI indices has changed to VM (ad) base 13-15%; ash (ad) base 9.5%; sulfur (ad) base 0.4%; phosphorus (ad) base 0.1%; TM (ad) base 10%, HGI (ad) base 75, GCV (ad) base 7700, NCV (ad) base 6700, from VM (ad) base 13%; ash (ad) base 9%; sulfur (ad) base 0.5%; phosphorus (ad) base 0.1%; TM (ad) base 10%.
The laycan period has changed to within 60 days from 16-60 days.
The frequency of the index has increased to daily from weekly.
The changes will better align the index to actual trading activity, which has been active for open-origin low-volatility materials, Fastmarkets believes.
After the changes, the new price specifications for the daily assessment are as follows:
Quality: VM (ad) base 13-15%; ash (ad) base 9.5%; sulfur (ad) base 0.4%; phosphorus (ad) base 0.1%; TM (ad) base 10%, HGI (ad) base 75, GCV (ad) base 7700, NCV (ad) base 6700
Quantity: Min 10,000 tonnes
Location: cfr Jingtang
Timing: Seaborne, laycan within 60 days
Unit: USD/wet metric tonne
Payment Terms: Letters of Credit on sight
Publication: Daily at 6.30pm Singapore time
Notes: All origins
These prices are a part of Fastmarkets’ steelmaking raw materials package.
To provide feedback on these indices or if you would like to provide price information by becoming a data submitter to these indices, please contact Olivia Zhang/Paul Lim by email at: pricing@fastmarkets.com. Please add the subject heading “FAO: Olivia Zhang/Paul Lim, re: Fastmarkets PCI Index”.
To see all Fastmarkets’ pricing methodology and specification documents go to https://www.fastmarkets.com/about-us/methodology.
