Launch of Indonesia steel billet import price

After a consultation period, Fastmarkets has launched a steel billet CFR Indonesia price in response to market requests for a CFR Indonesia price for the purposes of price benchmarking and referencing. The twice-weekly publishing frequency will capture price volatility during the trading week in line with those requests.

Fastmarkets has been tracking the price of steel billet imports into the Philippines due to its high liquidity, and the new assessment will allow Fastmarkets to bring additional transparency to the Indonesia steel billet import market amid expectations of more spot trading.

The specifications are as follows:

MB-STE-0913 Steel billet import, cfr Indonesia, $/tonne
Quality: 120x120mm to 150x150mm, length 12m, standard 5sp
Quantity: 5,000-50,000 tonnes
Location: CFR Indonesia
Timing: 6-10 weeks
Unit: USD per tonne
Payment terms: Letter of credit
Publication: Tuesday and Thursday, 5-6pm Singapore time.

This price will be a part of the Fastmarkets steel package.

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 Nabilah Awang by email at pricing@fastmarkets.com. Please add the subject heading “FAO: Nabilah Awang, re: steel billet import, cfr Indonesia.”

Please indicate if comments are confidential. Fastmarkets will consider all comments received and will make comments not marked as confidential available upon request.

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