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After a one-month consultation, Fastmarkets confirms amendments to the following prices:
MB-STE-0558 Steel billet index export, fob Black Sea, CIS, $/tonneMB-STE-0016 Steel slab export, fob Black Sea, CIS, $/tonneMB-STE-0017 Steel wire rod (mesh quality) export, fob Black Sea, CIS, $/ tonneMB-STE-0014 Steel hot-rolled coil export, fob Black Sea, CIS, $/tonneMB-STE-0012 Steel cold-rolled coil export, fob Black Sea, CIS, $/tonne
The payments term for all five prices will be changed to “15-30% advance payment possible, rest or 100% against shipping documents or upon delivery” instead of “30% prepayment, 70% L/C”.
Billet sizes have also been changed to “130x130mm and 150x150mm” from “130×130 mm” previously and wire rod sizes have been changed to “6.5 mm” from “5.5mm” previously.
The timing of the slab assessments have been changed to “6-10 weeks” from “8-10 weeks” and the timing of wire rod assessments have been changed to “3-6 weeks” from “6-8 weeks” to better reflect the market.
The changes to MB-STE-0016 Steel slab export, fob Black Sea, CIS, $/tonne are effective from Wednesday May 22.
All the other changes will take effect from Monday May 27.
The full changes to the specifications will be as follows:
MB-STE-0558 Steel billet index export, fob Black Sea, CIS, $/tonneQuality: Base 3SP (grades Q275 Q235, 5SP and equivalent normalized). Base sectional dimension 130x130mm and 150x150mm, 6-12 m length (100x100mm, 125x125mm, 120x120mm normalized)Quantity: Min 2,500 tonnesLocation: fob NovorossiyskTiming: Up to 6 weeksUnit: USD/tonnePayment terms:15-30% advance payment possible, rest or 100% against shipping documents or upon deliveryPublication: Daily, 4pm London time
MB-STE-0016 Steel slab export, fob Black Sea, CIS, $/tonneQuality: Width 1,250-2,100mm, thickness 220-270mm, length 6,000-12,000mmQuantity: 20,000-50,000 tonnesLocation: fob Black SeaTiming: 6-10 weeksUnit: USD/tonnePayment terms:15-30% advance payment possible, rest or 100% against shipping documents or upon deliveryPublication: Weekly. Monday, 2-3pm London time
MB-STE-0017 Steel wire rod (mesh quality) export, fob Black Sea, CIS, $/tonneQuality: Standard diameter 6.5mmQuantity: 1,000-5,000 tonnesLocation: fob Black SeaTiming: 3-6 weeksUnit: USD/tonnePayment terms:15-30% advance payment possible, rest or 100% against shipping documents or upon deliveryPublication: Weekly. Monday, 2-3pm London time
MB-STE-0014 Steel hot-rolled coil export, fob Black Sea, CIS, $/tonneQuality: Width 1,000-1,500mm, thickness 2-8mmQuantity: 1,000-3,000 tonnesLocation: fob Black SeaTiming: 6-8 weeks lead timeUnit: USD/tonnePayment terms:15-30% advance payment and against shipping documents or upon deliveryPublication: Weekly. Monday, 2-3pm London time
MB-STE-0012 Steel cold-rolled coil export, fob Black Sea, CIS, $/tonneQuality: Width 1000-1,250mm, thickness 0.5-2mmQuantity: 1,000-3,000 tonnesLocation: fob Black SeaTiming: 6-8 weeksUnit: USD/tonnePayment terms: 15-30% advance payment and against shipping documents or upon deliveryPublication: Weekly. Monday 2-3pm London time
These prices are a part of the Fastmarkets steel metals package.
To provide feedback on these prices, or if you would like to provide price information by becoming a data submitter to these prices, please contact Vlada Novokreshchenova or Marina Shulga by email at: pricing@fastmarkets.com. Please add the subject heading “FAO: Vlada Novokreschenova or Marina Shulga, re: Black Sea steel products assessments, billet index.”
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.