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.

Specification
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

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