Amendment to rebar, domestic exw Italy

After a consultation period, Fastmarkets has amended the quality of the specification to grade B450C from grades BS 4449 EN 10080, B500A, B500B and B500C. This is because B450C is the most traded grade in Italy.

Fastmarkets has also changed the minimum tonnage to 30 tonnes from 50 tonnes.

Fastmarkets had also proposed a transition from an assessment of an effective price to an assessment of a base price, alongside the provision of official extras in an appendix to Fastmarkets’ pricing methodology and specification document. This base price would have reflected material traded in both bars and spools; as well, the 12-meter length of the rebar would have been removed from the specification. 

After the consultation period, Fastmarkets has determined that current circumstances do not support changing MB-STE-0037 steel reinforcing bar (rebar) domestic, exw Italy, €/tonne to a base price. This part of the proposal has therefore been suspended and the 12-meter length will remain in the specification.

The new specification is as follows:

MB-STE-0037 Steel rebar assessment, domestic exw Italy, €/tonne
Quality: B450C diameter: 8-40 mm, length: 12 m
Quantity: Minimum 30 tonnes
Location: ex-works Italian mills
Timing: Up to 6 weeks
Unit: € per tonne
Payment terms: 60/90 days after invoice, at the end of the month, by bank transfer
Publication: Weekly, Wednesday, 2-3pm London time
Notes: Only material offered/traded within Italy, as defined above, will be considered.

The original proposal can be found here. An extension to the proposal can be found here.

Fastmarkets reserves the right to start a fresh consultation on amending the price in future should circumstances change.

To provide feedback on this decision, please contact pricing@fastmarkets.com and steel@fastmarkets.com. Please add the subject heading: “Re: amendments to rebar, domestic exw Italy.”

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 the Fastmarkets methodology page.