Decrease in frequency of Fastmarkets’ cfr China steel billet price

After a consultation period, Fastmarkets is decreasing the frequency of its cfr China steel billet price assessment to once per week, from twice per week, from Tuesday October 18

The consultation was opened on September 13 and ended on October 13.

Following the end of the consultation period, Fastmarkets will now change publication of these prices to weekly on Fridays, at 5-6pm Shanghai time.

The current specifications for Fastmarkets’ cfr China steel billet price, launched on February 26, 2021, will remain unchanged and are as follows, with the affected item in italics.

MB-STE-0890 Steel billet, import, cfr China, $ per tonne
Quality: 120x120mm to 150x150mm, length 12m, 3sp grade
Quantity: 5,000-50,000 tonnes
Location: cfr eastern China ports (normalized for other mainland Chinese sea ports)
Timing: 4-8 weeks
Unit: USD per tonne
Payment terms: Letter of credit on sight
Publication: Weekly, Friday, 5-6pm Shanghai time.

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 Lee Allen by email at: pricing@fastmarkets.com. Please add the subject heading “FAO: Lee Allen, re: cfr China steel billet.”

To see all Fastmarkets’ pricing methodology and specification documents, go to https://www.fastmarkets.com/about-us/methodology.

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