Fastmarkets has reduced the frequency of publication of its steel billet index export, fob Black Sea, CIS, due to lower market liquidity.
The change follows a month-long consultation period with most feedback supporting the decision.
The proposal was published on February 6 and the consultation ended on March 6.
The new specifications are listed below, with the amendment of price frequency in italics:
MB-STE-0558 Steel billet index export, fob Black Sea, CIS, $/tonne
Quality: Base 3SP (grades Q275 Q235, 5SP and equivalent normalized). Base sectional dimension 130x130mm and 150x150mm, 6-12 m length (100x100mm, 125x125mm, 120x120mm normalized)
Quantity: Min 2,500 tonnes
Location: FOB Novorossiysk
Timing: Up to 6 weeks
Unit: USD/tonne
Payment terms: 15-30% advance payment possible, rest or 100% against shipping documents or upon delivery
Publication:Twice weekly. Tuesday and Friday, 4pm London time
This price is part of the Fastmarkets steel package.
To provide feedback on this price, or if you would like to provide price information by becoming a data submitter to this price, please contact Vlada Novokreshchenova by email at pricing@fastmarkets.com. Please add the subject heading “FAO: Vlada Novokreshchenova, re: steel billet index export, fob Black Sea, CIS.”
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.
