Following initial consultations with market participants and a review of the typical data sets that have been collected in recent months Fastmarkets proposes to add some grades, sizes, payment terms as well as to change the incoterm to better reflect the state of the import steel slab market in Italy.
Since the beginning of the war in Ukraine in 2022 and the loss of the key supplier, the Italian slab market has been in a continued process of reshaping and seeking new sources of the material, which resulted in a change of typical specifications.
The proposed new specifications are shown below, with the changes in italics:
MB-STE-0896 Steel slab import, cfr Italy
Quality: S235JR,A 36, SAE1006, 3sp width 1,000-2,500mm, thickness 200-300mm, length 6,000-12,000mm
Quantity: 20,000-50,000 tonnes
Timing: 8-10 weeks
Currency: USD/tonne
Payment terms: LC at sight or around 20% downpayment via bank remittance rest after shipment or prior cargo arrival
Incoterm: cfr Italy
Publication: Weekly, 2-3 pm London time on Fridays
This price is a part of the Fastmarkets’ steel metals package.
The consultation period for the proposed amendment starts from Tuesday April 30 and ends one month from the date of this pricing notice on Tuesday May 28. The amendment will then take place, subject to market feedback, on Friday May 31.
To provide feedback on this price, or if you would like to provide price information by becoming a data submitter to this price assessment, please contact Vlada Novokreshchenova by email at: pricing@fastmarkets.com. Please add the subject heading “FAO: Vlada Novokreshchenova, re: Italy import slab price assessment.”
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.
