Extension of consultation period on launch of Pakistan import HMS assessment

After assessing market feedback, Fastmarkets is extending the consultation period for its proposal to launch a weekly Pakistan import HMS-grade steel scrap price assessment.

Fastmarkets proposes to launch a new weekly price assessment for the Pakistan HMS steel scrap import market following feedback indicating that such a price would be of value to market participants, both by itself and in conjunction with Fastmarkets’ existing Pakistan steel scrap prices, which include assessment of the imported shredded steel scrap price, launched in 2020.

This would also complement Fastmarkets’ other regional scrap prices, which include coverage of import scrap prices for India as well as Bangladesh.

Fastmarkets is extending the consultation period in order to ensure that the new assessment is launched with the most appropriate specifications.

The proposed specifications are as follows:
Name: Steel scrap HMS, import, cfr Port Qasim, Pakistan, $ per tonne
Quality: Unprocessed HMS 1&2 (90:10 mix), HMS 1 – no GI, no CI, no autoparts
Quantity: Minimum 100 tonnes (containerized)
Origin: Middle East only
Location: cfr Port Qasim
Timing: 4-6 weeks
Unit: USD per tonne
Payment terms: Letter of credit
Publication: Weekly; Friday, 4:00 pm London time
Notes: Exclusive of import tax

The extension to the consultation period for this proposed launch starts on December 17 and the consultation will now end on January 17. The launch will then take place, subject to market feedback, on January 21.

To provide feedback on this proposed launch, or if you would like to provide price information by becoming a data submitter to this price, please contact Ross Yeo by email at pricing@fastmarkets.com. Please add the subject heading ‘FAO: Ross Yeo re: Pakistan HMS.’

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