The amendment follows feedback from market participants who have reported less liquidity in the Manila steel billet import market, given that demand for imports have slowed amid a sluggish construction sector. Effective Tuesday May 7, the index will be published on Tuesdays and Thursdays. Previously it was published daily.
All other specifications of the index remain unchanged. The new specifications are as follows:
MB-STE-0141 Steel billet import, cfr Manila, $/tonne
Quality: 120x120mm to 150x150mm, length 12m, standard 5sp
Quantity: 5,000-50,000 tonnes
Location: cfr Manila
Timing: 6-10 weeks
Unit: USD per tonne
Payment terms: Letter of credit
Publication: Tuesday and Thursday, 5-6pm Singapore time
This price is part of the Fastmarkets steel package.
To provide feedback on this price or if you would like to provide information by becoming a data submitter, please contact Nabilah Awang by email at: pricing@fastmarkets.com. Please add the subject heading FAO: Nabilah Awang re: Steel billet import cfr Manila.
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, please go to https://www.fastmarkets.com/methodology.
