Proposal to discontinue two stainless steel base price assessments

Fastmarkets proposes to discontinue its monthly assessments of the MB-STS-0002 stainless steel cold-rolled sheet base price, 316, 2mm, domestic, delivered Europe, € per tonne, and the MB-STS-0007 stainless steel cold-rolled sheet, 2mm, grade 304, base price, domestic, delivered Northern Europe, € per tonne.

The proposal follows preliminary discussions with the market and interrogation of existing data collected by Fastmarkets, which suggest that these prices are no longer used by the wider market.

Base price trading has been suspended since the end of 2022 due to poor market conditions. In its place, business has been done on a transaction price basis.

Specifically, Fastmarkets is proposing to discontinue these assessments:

MB-STS-0002 Stainless steel cold-rolled sheet base price, 316, 2mm, domestic, delivered Europe, € per tonne
Quality: AISI 316 EN 1.4401 ASTM 316, width 1,500-2,000mm, thickness 2mm, length: 1,000-3,000mm
Quantity: 10-1,000 tonnes
Location: Delivered Northern Europe
Timing: 6-8 weeks
Unit: EUR per tonne
Payment terms: Standard 30-60 days after invoice date
Publication: Monthly. First Friday of each month, 2-3pm London time
Notes: European norm.

MB-STS-0007 Stainless steel cold-rolled sheet, 2mm, grade 304, base price, domestic, delivered Northern Europe, € per tonne
Quality: AISI 304 EN 1.4301 ASTM 304, width 1,500-2,000mm, thickness 2mm, length 1,000-3,000mm
Quantity: 10-1,000 tonnes
Location: Delivered Northern Europe
Timing: 6-8 weeks
Unit: EUR per tonne
Payment terms: Standard 30-60 days after invoice date
Publication: Monthly. First Friday of each month, 2-3pm London time
Notes: European norm.

These prices are part of the Fastmarkets Steel Physicals package.

The consultation period for this price discontinuation begins on Friday June 13 and will end on Friday July 11, with changes taking place, subject to market feedback, from Wednesday July 16.

All short-term forecasts associated with these prices produced by the Fastmarkets research team, if any, will also be discontinued.

To provide feedback on the proposal to discontinue these price assessments, or if you would like to provide price information by becoming a data submitter, please contact Zdravko Cherkezov by email at: pricing@fastmarkets.com. Please add the subject heading: “FAO: Zdravko Cherkezov, re: stainless steel base 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/methodology

What to read next
The publication of Fastmarkets’ AG-PLM-0019 refined bleached deodorised (RBD) palm olein, cfr South China assessment for Thursday July 24 was delayed due to a reporter error. Fastmarkets’ pricing database has been updated.
Fastmarkets has launched a MB-STE-0935 Steel reinforcing bar (rebar), differential to shredded auto scrap Chicago, fob mill US, $/gross ton to complement its existing suite of steelmaking raw materials to finished product differentials on Wednesday July 23. This strategic launch is designed to offer the market a single reference price denoting the differential between steel […]
The following prices were affected:MB-BI-0001 bismuth 99.99% Bi min, in-whs Rotterdam, $ per lbMB-CD-0001 cadmium 99.95% min, cif global ports, cents per lbMB-CD-0002 cadmium 99.99% min, cif global ports, cents per lb. These prices are part of Fastmarkets’ minor metals package. For more information, or to provide feedback on the delayed publication of these prices, or if you […]
After a consultation period from June 20 to July 18, Fastmarkets made the decision to discontinue these assessments because the outright prices no longer reflect market conditions, with the market shifting toward payables as the dominant pricing method. The affected prices are:MB-NIO-0003 nickel mixed hydroxide precipitate outright price, cif China, Japan and South Korea, $ per tonneMB-NIO-0005 nickel […]
The publication of Fastmarkets’ MB-CO-0004 cobalt alloy grade, in-whs Rotterdam and MB-CO-0005 cobalt standard grade, in-whs Rotterdam assessments for Wednesday July 23 was delayed because of a system error. Fastmarkets’ pricing database has been updated.
On reviewing the methodology specifications, Fastmarkets is proposing to update the quantity, location and payment terms of the price. The specifications would be as follows, with amendments in italics: MB-SI-0003 silicon, ddp US, US cents per lbQuality: Si: 98.50%, Fe: 0.50%, Al: 0.50%, Ca: 0.30%Quantity: Min 20 tonnesLocation:ddp USUnit: US cents per lbPayment terms: 30 days, other terms normalizedPublication: Weekly, Thursday 4-5pm […]