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After a month-long consultation period, Fastmarkets has launched the price assessment for steel slab import, cif Italy, to reflect the change in trade flows that have followed the disruption in traditional supplies from the Black Sea region arising from the war in Ukraine.
The price specification will be as follows:
MB-STE-0896 steel slab, import, cif Italy, $ per tonne Assessment: Steel slab import, cif Italy Quality: S235JR, width 1,250-2,100mm, thickness 220-270mm, length 6,000-12,000mm Quantity: 20,000-50,000 tonnes Timing: 8-10 weeks Currency: USD per tonne Payment terms: LC at sight Incoterm: cif Italy Publication: Weekly, 2-3 pm London time on Fridays
In 2020, Italy imported 2.4 million tonnes of slab, of which 82% originated from Ukraine, with the remainder mainly from Russia, according to the International Steel Statistics Bureau (ISSB).
For this reason, Fastmarkets did not have a separate assessment for the Italian import slab price and reflected sales to Italy in its price assessment for MB-STE-0016 steel slab, export, fob Black Sea, CIS, which included both Russian and Ukrainian material.
With supply from Ukraine interrupted by stoppages at major producing sites, as well as closure of the country’s main ports, due to Russia’s invasion, Italian customers were forced to turn to alternative slab supplies from Indonesia, India and China.
To provide feedback on this new price assessment, 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: steel slab, import, cif Italy.’
To see all Fastmarkets’ pricing methodology and specification documents, go to https://www.fastmarkets.com/about-us/methodology.