Amendment to frequency, specifications of PCI low-vol cfr Jingtang index

The quality of the PCI indices has changed to VM (ad) base 13-15%; ash (ad) base 9.5%; sulfur (ad) base 0.4%; phosphorus (ad) base 0.1%; TM (ad) base 10%, HGI (ad) base 75, GCV (ad) base 7700, NCV (ad) base 6700, from VM (ad) base 13%; ash (ad) base 9%; sulfur (ad) base 0.5%; phosphorus (ad) base 0.1%; TM (ad) base 10%.

The laycan period has changed to within 60 days from 16-60 days.

The frequency of the index has increased to daily from weekly.

The changes will better align the index to actual trading activity, which has been active for open-origin low-volatility materials, Fastmarkets believes.

After the changes, the new price specifications for the daily assessment are as follows:

Quality: VM (ad) base 13-15%; ash (ad) base 9.5%; sulfur (ad) base 0.4%; phosphorus (ad) base 0.1%; TM (ad) base 10%, HGI (ad) base 75, GCV (ad) base 7700, NCV (ad) base 6700
Quantity: Min 10,000 tonnes
Location: cfr Jingtang
Timing: Seaborne, laycan within 60 days
Unit: USD/wet metric tonne
Payment Terms: Letters of Credit on sight
Publication: Daily at 6.30pm Singapore time
Notes: All origins

These prices are a part of Fastmarkets’ steelmaking raw materials package.

To provide feedback on these indices or if you would like to provide price information by becoming a data submitter to these indices, please contact Olivia Zhang/Paul Lim by email at: pricing@fastmarkets.com. Please add the subject heading “FAO: Olivia Zhang/Paul Lim, re: Fastmarkets PCI Index”.

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