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
