Extension of the consultation period for the amendment to steel reinforcing bar domestic, exw Italy, €/tonne

Fastmarkets is extending the consultation period for its proposal to amend the specifications of its weekly price assessment for MB-STE-0037 Steel reinforcing bar (Rebar) domestic, exw Italy, €/tonne amid diverse feedback.

Fastmarkets initially proposed a transition from an assessment of an effective price to an assessment of a base price alongside the provision of official extras in an appendix to Fastmarkets’ pricing methodology and specification document.

The change would make the assessment more reflective and include not only bars, but also spools, which are also widely traded and used for concrete reinforcement in the country, because the base price is predominantly equal for both types of products, according to the market sources. Meanwhile, extras would be listed in an appendix to the methodology file, which would give an opportunity for subscribers to identify the price for the exact material they need by adding specific extras to the base price published by Fastmarkets.

Other changes proposed were:

• amending the quality of the specification to B450C grade from BS 4449 EN 10080; B500A, B500B and B500C since the former is the most traded in Italy
• widening of the diameter range to 8-40 mm from 8-16 mm to include all sizes available.

Additionally, Fastmarkets proposes to change minimum tonnage from 50 tonnes to 30 tonnes and remove the 12 meter length specification.

The proposed specifications are as follows, with amendments in italics:
MB-STE-0037 Steel rebar assessment (base), domestic exw Italy, €/tonne
Quality: B450C diameter: 8-40 mm
Quantity: Minimum 30 tonnes
Location: ex-works Italian mills
Timing: Up to 6 weeks
Unit: € per tonne
Payment terms: 60/90 days after invoice, at the end-of-the-month, by bank transfer
Publication: Weekly, Wednesday, 2-3pm London time
Notes: Only material offered/traded within Italy, as defined above, will be considered. Official extras published by producers in Italy added to Appendix A.

This price is a part of the Fastmarkets steel package.

The extended consultation period for this proposed amendment starts from September 19 and will now end on October 20. The amendment will then take place, subject to market feedback, on October 23.

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 Vlada Novokreshchenova by email at: pricing@fastmarkets.com. Please add the subject heading “FAO: Vlada Novokreshchenova, re: domestic rebar assessment in Italy.”

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 Fastmarkets’ pricing methodology and specification documents, go to https://www.fastmarkets.com/methodology.