Extension of consultation period on launch of Southeast Asia HBI price

After market feedback, Fastmarkets is extending the consultation period for its proposal to launch a cfr Southeast Asia hot-briquetted iron (HBI) price.

On November 24, 2022, Fastmarkets proposed launching a Southeast Asia HBI price assessment.

HBI is a direct-charge metallic, which is used to reduce emissions in blast furnace-based converters. It can also be used in electric-arc furnaces.

Fastmarkets is still seeking more information from market participants on the pricing mechanism and incoterm for the price assessment after initial feedback indicated there might be insufficient liquidity and spot trades in Asia.

Quality: 88-94% Fe, 90-140mm x 48-58mm x 32-34mm
Quantity: 10,000-30,000 tonnes
Location: CFR Southeast Asian ports
Timing: 0-8 weeks
Unit: USD/tonne
Payment terms: Letter of credit
Publication: Second and fourth Friday of each month, by 6pm Singapore time.

The extended consultation period for this proposed launch starts on February 1 and will end on March 29. The launch will then take place, subject to market feedback, on Monday April 14.

To provide feedback on the proposed Southeast Asia HBI price or if you would like to provide price information by becoming a data submitter to this price, please contact Paul Lim by email at pricing@fastmarkets.com. Please add the subject heading “FAO: Paul Lim, re: Southeast Asia HBI price.” To see all Fastmarkets’ pricing methodology and specification documents go to https://www.fastmarkets.com/about-us/methodology

What to read next
Fastmarkets proposes to amend the frequency of its aluminium P1020A premium, ddp Midwest US from twice-weekly to daily.
Fastmarkets amends the frequency of its spodumene min 6% Li2O, spot price, cif China from Wednesday December 6.
The consumption of steel scrap in the United Arab Emirates (UAE) was expected to rise sharply in the coming years amid expansions in steelmaker capacities to feed greater steel demand
To view and download the schedules please visit: https://www.fastmarkets.com/methodology/forest-products For questions and comments please contact pricing.risi@fastmarkets.com.
Fastmarkets proposes to launch a ferro-chrome 50% Cr import, cif Indonesia price assessment to expand its coverage of the Asian ferro-chrome market.
After an extended consultation period, Fastmarkets will launch two new European aluminium low-carbon value-added product (VAP) differentials to complement its existing low-carbon offering in Europe and begin the phased discontinuation of the existing MB-AL-0382 aluminium low-carbon value-added product differential.