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Fastmarkets will be publishing the price assessment for 1.2mm thick hot-rolled coil, starting Tuesday February 22. The previous assessment included HRC of 1.5-3mm thickness.
The reason for the amendment to the specification to the price is that Saudi Arabia mostly imports HRC of 1.2mm thickness. The reason for imports being mostly 1.2mm thick is that local producers can supply thicker qualities, but 1.2mm cannot be produced locally, although the product is used widely in the country.
New specifications are as follows:
MB-STE-0113 Steel hot-rolled coil import, cfr Saudi Arabia, $/tonne
Quality: Width 1,000-3,000mm, thickness 1.2 mm
Quantity: Standard order 500-1,000 tonnes
Location: cfr Jeddah
Timing: 6-8 weeks
Unit: USD/tonne
Payment terms: Prompt payment upon delivery
Publication: Weekly. Tuesday, 2-3pm London time
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 Serife Durmus by email at: pricing@fastmarkets.com. Please add the subject heading FAO: Serife Durmus, re: steel hot-rolled coil import, cfr Saudi Arabia.
To see all Fastmarkets’ pricing methodology and specification documents go to https://fastmarkets.com/uploads/ef/3f/921051b349b69ddd86aca1618aeb/fm-mb-ferrous-metals-methodology-specifications.pdf