Decision to discontinue domestic price assessments for steel rebar, billet, exw India

After a consultation period, Fastmarkets has discontinued Indian domestic steel rebar and steel billet price assessments because the majority of quality long steel in India is produced via the blast furnace route. The current assessments for domestic rebar and billet produced through the induction furnace route are no longer relevant as pricing benchmarks.

The prices that have been discontinued are:

MB-STE-0438 Steel rebar, domestic, exw India, rupees per tonne
Quality: IS 1786 Gr A 20 mm Fe 500, induction furnace grade, min size: 12 25mm diameter
Quantity: Min lot size: 50 tonnes
Location: Ex-works
Timing: 1, 2 and 3 weeks
Unit: INR per tonne
Payment terms: 30 days from delivery.
Publication: Weekly, Friday, 2-3pm London time.

MB-STE-0433 Steel billet, domestic, exw India, rupees per tonne
Quality: IS 2831, 100x100mm
Quantity: Min lot size: 50 tonnes
Location: Ex-works India
Timing: 1, 2 and 3 weeks
Unit: INR per tonne
Payment terms: 30 days from delivery.
Publication: Weekly, Friday 2-3pm London time.

These prices are part of the Fastmarkets steel package.

The consultation period for these price discontinuations started on November 7 and ended on December 5, with changes taking place, subject to market feedback, from December 10.

All short-term forecasts associated with these prices produced by the Fastmarkets research team, if any, have also been discontinued.

If you have any comments on the discontinuation of these please contact pricing@fastmarkets.com and steel@fastmarkets.com. Please add the subject heading “re: Indian domestic billet and rebar price assessments.”

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.