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Following feedback from market participants, Fastmarkets changed the payment terms for the price assessment to “10-15% prepayment and payment 30 days after invoice date/LC,” replacing the previous “Standard 30-60 days after invoice Date/LC.”
Fastmarkets also amended the quantity to 500-1,000 tonnes, from the previous 200-500 tonnes.
The amendments better reflect current dynamics in the market, according to sources in Turkey.
The new specifications are as follows:
MB-STE-0166 Steel structural pipe export S235JR grade EN10219 2mm wall thickness, fob main port Turkey, $/tonneQuality: S235 to EN10219 standard, width 12-273 mm, thickness 2mm, length 4,000-12,000 mmQuantity: 500-1,000 tonnesLocation: FOB TurkeyTiming: 6-8 weeksUnit: USD/tonnePayment terms: 10-15% prepayment and payment 30 days after invoice date/LCPublication: Monthly. Second Wednesday of each month, 2-3pm London timeThe price is part of the Fastmarkets steel price package.
To provide feedback on these prices, or if you would like to provide price information by becoming a data submitter to these prices, please contact Serife Durmus by email at: pricing@fastmarkets.com. Please add the subject heading “FAO: Serife Durmus re Turkey export pipe 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.