Extension of consultation period for amendment to Iranian billet, slab price assessments

After assessing market feedback, Fastmarkets is extending the consultation period for its proposal to amend specifications of its MB-STE-0782 steel billet export, fob ports Iran and MB-STS-0019 steel slab export, fob ports Iran assessments.

On May 1, 2024, Fastmarkets proposed to change specifications for the above prices.

The proposed specifications were as follows:

MB-STE-0782 Steel billet export, fob ports Iran, $/tonne
Quality: 3-5sp,130x130mm to 150x150mm, length 8,000-12,000mm
Quantity: minimum 10,000 tonnes
Location: fob Iran
Timing: 4-8 weeks
Unit: USD/tonne
Payment terms: 10-30% prepayment, rest before vessel sail from seller’s port
Publication: Weekly. Wednesday, 2-3pm London time

MB-STE-0781 Steel slab export, fob ports Iran, $/tonne
Quality: Width 900-2,000mm, thickness 195- 250mm, length 3,800-11,000mm
Quantity: minimum 10,000 tonnes
Location: fob Iran
Timing: 4-8 weeks
Unit: USD/tonne
Payment terms: 10-30% prepayment, rest before vessel sail from seller’s port
Publication: Weekly. Wednesday, 2-3pm London time

The extended consultation starts on June 5 and will end on Wednesday July 2. Fastmarkets will publish a new pricing notice to update the market on this proposal by July 5. The above prices are a part of Fastmarkets’ steel package.

To provide feedback on these prices, or if you would like to provide price information by becoming a data submitter to these price assessments, please contact Vlada Novokreshchenova by email at: pricing@fastmarkets.com. Please add the subject heading “FAO: Vlada Novokreshchenova, re: Iranian export billet and slab 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 of Fastmarkets’ pricing methodology and specification documents, go to https://www.fastmarkets.com/methodology.

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