Further extension of consultation period for launch of Pakistan import HMS price assessment

After assessing further market feedback, Fastmarkets is again extending the consultation period for its proposal to launch a weekly Pakistan import HMS-grade steel scrap price assessment

After assessing further market feedback, Fastmarkets is again extending the consultation period for its proposal to launch a weekly Pakistan import HMS-grade steel scrap price assessment.

In November, Fastmarkets proposed launching a weekly price assessment for the Pakistan HMS steel scrap import market following feedback indicating that such a price would be of value to market participants, both by itself and in conjunction with Fastmarkets’ existing Pakistan steel scrap prices, which include assessment of the imported shredded steel scrap price, launched in 2020.

This would also complement Fastmarkets’ other regional scrap prices, which include coverage of import scrap prices for India as well as Bangladesh.

The original consultation period was extended in December and Fastmarkets is further extending the consultation period to ensure the new assessment is launched with the most appropriate specifications.

The proposed specifications are as follows:

Name: Steel scrap HMS, import, cfr Port Qasim, Pakistan, $ per tonne

Quality: Unprocessed HMS 1&2 (90:10 mix), HMS 1 – no GI, no CI, no autoparts

Quantity: Minimum 100 tonnes (containerized)

Location: cfr Port Qasim

Timing: 4-6 weeks

Unit: USD per tonne

Payment terms: Letter of credit

Publication: Weekly; Friday, 4pm London time

Notes: Middle East origin only, exclusive of import tax

The extended consultation period for this proposed launch starts on January 21 and the consultation will now end on February 21, with the launch then taking place, subject to market feedback, on February 25.

To provide feedback on this proposed launch, or if you would like to provide price information by becoming a data submitter to this price, please contact Ross Yeo by email at pricing@fastmarkets.com. Please add the subject heading ‘FAO: Ross Yeo re: Pakistan HMS.’

To see all Fastmarkets’ pricing methodology and specification documents, go to: https://www.fastmarkets.com/about-us/methodology.

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