Fresh proposal to amend Iranian billet, slab price assessments

After an extended consultation, Fastmarkets is launching a new proposal to amend specifications of its MB-STE-0782 steel billet export, fob ports Iran and MB-STE-0781 steel slab export, fob ports Iran assessments.

The initial proposal was published on May 1 and was extended on June 5 to get more market feedback.

The proposed new specifications are as follows:

MB-STE-0782 Steel billet export, fob ports Iran, $/tonne
Quality: 3-5sp,130x130mm to 150x150mm, length 12,000mm
Quantity: minimum 10,000 tonnes
Location: fob Iran
Timing: up to 8 weeks
Unit: USD/tonne
Payment terms: 10-30% prepayment, rest before vessel sail from seller’s port
Publication: Weekly. Wednesday, 2-3pm London time

MB-STE-0781 Steel slab export, fob ports Iran, $/tonne
Quality: Width 900-2,000mm, thickness 195-250mm, length 3,800-11,000mm
Quantity: minimum 10,000 tonnes
Location: fob Iran
Timing: up to 8 weeks
Unit: USD/tonne
Payment terms: 10-30% prepayment, rest before vessel sail from seller’s port
Publication: Weekly. Wednesday, 2-3pm London time

The extended consultation starts on Thursday July 4 and will end on Thursday August 1. The amendment will then take place, subject to market feedback, on Wednesday August 7.

To provide feedback on these prices, or if you would like to provide price information by becoming a data submitter to these price assessments, please contact Vlada Novokreshchenova by email at: pricing@fastmarkets.com. Please add the subject heading “FAO: Vlada Novokreshchenova, re: Iranian export billet and slab price assessments.”

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

What to read next
Fastmarkets’ pricing database has been updated. The steel billet index export, fob Black Sea, CIS price was published at $496 per tonne on July 19. This price is part of the Fastmarkets steel price package. For more information or to provide feedback on the delayed publication of this price or if you would like to provide price […]
Fastmarkets (Random Lengths) plans to formally launch the industry’s first daily price assessment for Southern Yellow Pine #2 2x4 (eastside) on Thursday 8 August along with more than a year of pricing history.
Fastmarkets proposes to discontinue its weekly price assessment for steel reinforcing bar (rebar) domestic, ex-whs Northern China.
Fastmarkets launches MB-STE-0918 Electrical steel, non-grain oriented, ex-whs Eastern China, $/tonne and MB-STE-0919 Electrical steel, non-grain oriented, cfr India, $/tonne on July 19.
Fastmarkets has amended the name of MB-AL-0231 Aluminium P1020A all-in price, delivered Midwest US, US cents/lb as of Wednesday July 17.
The publication of Fastmarkets’ CIS steel slab, wire rod, hot-rolled and cold-rolled coil assessments was postponed by one day due to a public holiday in Ukraine on Monday July 15.