Fastmarkets proposes to change the maximum carbon emission content to 800 kilograms per tonne of steel, down from 1 tonne previously.
The proposed new specifications are shown below, with the changes in italics:
MB-STE-0904 Green Steel domestic, flat-rolled, differential to HRC index, exw northern Europe, € per tonne
Quality: Steel produced with scope 1,2 & 3 emissions of maximum 800 kilograms CO2 per tonne of steel
Quantity: minimum 10 tonnes
Location: Ex-works northern Europe
Timing: Open
Unit: EUR/tonne
Publication: Weekly
MB-STE-0905 Green steel base price, HRC exw Northern Europe, daily inferred, €/tonne
Quality: Steel produced with scope 1,2 & 3 emissions of maximum 800 kilograms CO2 per tonne of steel
Quantity: minimum 10 tonnes
Location: Ex-works northern Europe
Timing: Open
Unit: EUR/tonne
Publication: Daily
Notes: This price is calculated by adding the weekly Green Steel differential (MB-STE-0904) to the daily Northern Europe HRC index (MB-STE-0028).
In the fast-developing green steel markets in Europe, key consumers of green steel, including those in the automotive sector, have become more selective and no longer consider steel with emissions as high as 1 tonne of CO2 per tonne of steel to be green.
The majority of data reported for Fastmarkets’ green steel assessment since its launch in June 2023 were with emissions levels of up to 800 kilograms per tonne of steel.
It should be noted that definition of green steel is not yet documented in the European Union and there are no documents or regulations that would provide the exact definition of green steel.
The consultation period for this proposed amendment starts from Tuesday May 14, 2024 and will end on Friday June 14, 2024. The amendment will then take place, subject to market feedback, on Thursday June 20, 2024.
To provide feedback on these prices, or if you would like to provide price information by becoming a data submitter to these assessments, please contact Julia Bolotova by email at: pricing@fastmarkets.com. Please add the subject heading: “FAO: Julia Bolotova re: European green steel prices.”
Please indicate if the 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/about-us/methodology
