The shredded indices for India and Pakistan are both published at 4pm London time on a Friday, and the India HMS assessment will be brought in line with this, to offer a more consistent scrap offering for these markets.
The amended methodology is proposed as follows:
MB-STE-0413: Steel scrap HMS 1&2 (80:20 mix) import, cfr Nhava Sheva, India, $/tonne
Quality: Standard size 200mm
Quantity: Minimum 100 tonnes (containerized)
Location: cfr Nhava Sheva
Timing: Up to six weeks
Payment terms: LC, bank transfer
Publication: Weekly. Friday, 4.00pm London time
The consultation period for this proposed amendment starts from Thursday September 23 and will end on Monday October 25. The amendment will then take place, subject to market feedback, on Friday October 29.
To provide feedback on this price assessment or if you would like to provide price information by becoming a data submitter to this price assessment, please contact Carrie Bone by email at: email@example.com. Please add the subject heading FAO: Carrie Bone re: India HMS.
To see all Fastmarkets’ pricing methodology and specification documents go to https://www.fastmarkets.com/about-us/methodology.
Fastmarkets proposes to amend the publishing time of the weekly India HMS assessment on Friday, from 4:30pm London time to 4:00pm London time, to align better with the publishing time of the India and Pakistan ferrous scrap indices.