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Fastmarkets is clarifying the publishing schedule for two Saudi Arabia steel price assessments following confirmation of the dates of the Eid al-Adha holiday.
The two price assessments affected are as follows:
MB-STE-0909 – Steel reinforcing bar (rebar), domestic, delivered Saudi Arabia, riyals/tonne
MB-STE-0940 – Steel billet, import, cfr Saudi Arabia, $/tonne
The domestic rebar price assessment is usually published weekly on Mondays, while the steel billet import price assessment is usually published on the last Monday of each month.
Because Monday, May 25 is a UK bank holiday, both prices would normally be published on the following working day. However, May 26 is Arafat Day in Saudi Arabia and the Eid al-Adha holiday takes place on May 27-29.
Because of this, the normal process would be to assess the prices on the previous working day, however, Friday, May 22 is not a working day in Saudi Arabia.
As a result, both prices will be published on Thursday, May 21.
Fastmarkets’ pricing holiday calendar has been updated to reflect these changes.
These assessments are part of the Fastmarkets steel package.
For more information or to provide feedback on the changed publication dates of these prices, or if you would like to provide price information by becoming a data submitter to these prices, contact pricing@fastmarkets.com and steel@fastmarkets.com. Please add the subject heading “re: Saudi Arabia steel prices.” 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.