Amendment to frequency of Fastmarkets’ China steel billet import price assessment

After a 30-day consultation, Fastmarkets will amend the frequency of its price assessment for China steel billet imports from weekly to fortnightly due to the low liquidity observed in the import market.

The consultation ended on Thursday May 4, with the original pricing notice published on April 5.

The specification for the affected billet price is as follows:

MB-STE-0890 Steel billet, import, cfr China, $/tonneQuality: 120x120mm to 150x150mm, length 12m, 3sp grade
Quantity: 5,000-50,000 tonnes
Location: CFR eastern China ports (normalized for other mainland Chinese sea ports)
Timing: 4-8 weeks
Unit: USD per tonne
Payment terms: Letter of credit on sight
Publication: Every two weeks, Friday, 5-6pm Shanghai time

There will be no assessment on May 5, with the first assessment under the new frequency to be published on Friday May 12 and every two weeks thereafter.

To provide feedback on this price, or if you would like to provide price information by becoming a data submitter to the China billet import price assessment, please contact Jessica Zong at pricing@fastmarkets.com. Please add the subject heading: “FAO: Jessica Zong re: China import billet.”

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

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