Launch of two European domestic green long steel price assessments: pricing notice

The introduction of two new green longs prices will further enhance Fastmarkets’ global green steel coverage, providing a critical reference point for European steel producers and international suppliers aiming to sell green steel in Europe. 

The Northen European market, particularly Nordic countries, are key consumers of green steel in Europe, hence the new premium and the inferred price will be targeted at this region.

Fastmarkets’ green steel, differential to steel reinforcing bar (rebar) domestic, delivered Northern Europe will be assessed weekly against the established weekly steel reinforcing bar (rebar) domestic, delivered Northern Europe assessment.

The weekly inferred green steel base price, reinforcing bar (rebar) domestic, delivered Northern Europe will be calculated based on the weekly assessment of steel reinforcing bar (rebar) domestic, delivered Northern Europe, €/tonne and the green steel, differential to steel reinforcing bar (rebar) domestic, delivered Northern Europe.

The initial assessment will be published on Wednesday April 9.

The price specifications are as follows:

MB-STE-0926 Green steel, differential to steel reinforcing bar (rebar) domestic, delivered Northern Europe, €/tonne
Quality: Steel produced with scope 1,2,3 emissions of 0-500 kg tonnes of CO2 per tonne of steel
Type: Quantity: minimum 10 tonnes
Location: delivered Northern Europe
Timing: Open
Unit: EUR/tonne
Publication: Weekly. Wednesday, 2-3pm London time

MB-STE-0925 Green steel base price, reinforcing bar (rebar) domestic, delivered Northern Europe, inferred, €/tonne
Quality: Steel produced with scope 1,2,3 emissions of 0-500 kg tonnes of CO2 per tonne of steel
Quantity: Quantity: minimum 10 tonnes
Location: delivered northern Europe
Timing: Open
Unit: EUR/tonne
Publication: Weekly. Wednesday, 2-3pm London time
Notes: This price is calculated by adding the weekly green steel, differential to steel reinforcing bar (rebar) domestic, delivered Northern Europe, €/tonne to the weekly price for steel reinforcing bar (rebar) domestic, delivered Northern Europe, €/tonne.

All production methods and raw materials will be considered, including scrap-based production and steel made using hydrogen-reduced iron.

These prices are part of the Fastmarkets steel price package.

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 Vlada Novokreshchenova by email at: pricing@fastmarkets.com. Please add the subject heading: “FAO: Vlada Novokreshchenova re: European Green long steel prices.”

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/about-us/methodology.