Amendment to Italy steel slab import price assessment

After a one-month consultation, Fastmarkets confirms an amendment of its price assessment for MB-STE-0896 steel slab, import, cif Italy.

The new specification will have an expanded grades list of “S235JR,A 36, SAE1006, 3sp” instead of “S235JR” previously. It will also have wider size range of “width 1,000-2,500mm, thickness 200-300mm, length 6,000-12,000mm” versus “width 1,250-2,100mm, thickness 220-270mm, length 6,000-12,000mm.”

Payment terms will also be changed to “LC at sight or around 20% downpayment via bank remittance; rest after shipment or prior cargo arrival” from “LC at sight”.

Finally, the incoterm will be changed to “CFR” from “CIF.”

The changes will allow Fastmarkets to better reflect the state of the import steel slab market in Italy and will be effective from May 22.

Since the beginning of the war in Ukraine in 2022, and the loss of that key supplier, the Italian slab market has been in a continued process of reshaping and seeking new sources of the material, which has resulted in a change of the specifications.

The full specification will be as follows:

MB-STE-0896 Steel slab, import, cfr Italy, $ per tonne
Quality: S235JR,A 36, SAE1006, 3sp width 1,000-2,500mm, thickness 200-300mm, length 6,000-12,000mm
Quantity: 20,000-50,000 tonnes
Timing: 8-10 weeks
Currency: USD per tonne
Payment terms: LC at sight or around 20% downpayment via bank remittance; rest after shipment or prior cargo arrival
Incoterm: cfr Italy
Publication: Weekly, 2-3 pm London time on Fridays.

This price is a part of the Fastmarkets’ steel metals package.

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

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.

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