The consultation ran from July 14 to August 11 and laid out Fastmarkets’ proposal to change the thickness specification in the price assessment for steel hot-dipped galvanized coil, import, cfr main ports South America, to 1mm from 0.4-1mm.
Additionally, Fastmarkets will introduce a coating level specification for material under this import price assessment of 100-120g of zinc.
The assessment history for this price already reflects mostly material of 1mm thickness and with 100-120g of zinc coating, because this has been the material most widely traded in Fastmarkets’ assessment since its inception.
The change will be made because products of 1mm thickness and with 100-120g of zinc coating are more often tracked globally, according to market participants.
All historical data relating to the assessment prior to the amendment will remain available in the pricing section of the Fastmarkets website.
Fastmarkets is concurrently changing the publication time for its Latin American steel price assessments. Please follow this link to see the notice of these changes.
The amended specification for the hot-dipped galvanized coil price is as follows, with the changes highlighted in italics:
MB-STE-0104: Steel hot-dipped galvanized coil import, cfr main ports South America, $ per tonne
Quality: Width 1,000-1,200mm, thickness 1mm, 100-120g of zinc coating
Quantity: 1,000-5,000 tonnes
Location: cfr South America (Brazil, Colombia, Peru, Chile)
Timing: 8-12 weeks
Unit: USD per tonne
Payment terms: Payment upon delivery in Colombia, Peru, Chile; financed up to 180 days in Brazil
Publication: Weekly. Friday, 2-3pm New York time
To provide feedback on South American steel import price assessments, or if you would like to provide price information by becoming a data submitter, please contact Renato Rostás by email at firstname.lastname@example.org. Please add the subject heading ‘FAO: Renato Rostás re: South American steel import price assessments.’
To see all Fastmarkets’ pricing methodology and specification documents, go to www.fastmarkets.com/about-us/methodology.
After a consultation period, Fastmarkets will amend the specifications of its hot-dipped galvanized steel import price assessment, cfr South America, with effect from Friday August 14.