Under the proposal, the quantity of hot-rolled coil considered for the weekly steel hot-rolled coil export, fob main port Turkey, $/tonne price assessment will change to a minimum 2,000 tonnes (with no set maximum) from the current 500-1,000 tonnes.

The proposal to adjust the specifications will bring the assessment in line with recent changes seen in the market, specifically an increase in the average cargo size. 

The current specifications are as below:

MB-STE-0107  Steel hot-rolled coil export, fob main port Turkey, $/tonne  
Quality: Width 1,000-3,000mm, thickness 1.5- 3mm
Quantity: Standard order 500-1,000 tonnes
Location: fob Turkey
Timing: 6-8 weeks
Unit: USD/tonne
Payment terms: Prompt payment upon delivery
Publication: Weekly. Friday, 2-3pm London time

The consultation period for this proposed amendment starts from July 21, 2020 and will end on August 21, 2020, with the change taking place, subject to market feedback, on August 24, 2020.

To provide feedback on this price or if you would like to provide price information by becoming a data submitter to this price, please contact Serife Durmus by email at: pricing@fastmarkets.com. Please add the subject heading ‘FAO: Serife Durmus, re: steel hot-rolled coil export, fob main port Turkey, $/tonne.’

To see all Fastmarkets’ pricing methodology and specification documents go to https://www.fastmarkets.com/ about-us/methodology.