Open consultation on methodology for Fastmarkets’ cfr Manila steel billet assessment

Fastmarkets is inviting feedback from the industry on the pricing methodology for its steel billet import, cfr Manila, $/tonne, assessment, as part of its announced annual methodology review process.

March 6, 2023

By Paul Lim

This consultation, which is open until April 6, 2023, seeks to ensure that our methodologies continue to reflect the physical market under indexation, in compliance with the International Organization of Securities Commissions (IOSCO) principles for Price Reporting Agencies (PRAs). This includes all elements of our pricing process, our price specifications and publication frequency.

You can find the current methodology for Fastmarkets’ ferrous methodology here.

The prices subject to this annual review are as follows:
• MB-STE-0141, Steel billet import, cfr Manila, $/tonne

Fastmarkets will publish the outcome of this methodology review by April 7, 2023, including a summary of the feedback, with the exception of those responses marked as confidential. Any proposals to make material changes, discontinue or launch prices will involve a separate market consultation, the length of which will depend on how substantial the change is.

Please send responses in writing, preferably in electronic format, to the following address: pricing@fastmarkets.com. Please add the subject heading ‘FAO: Paul Lim, re: Methodology annual review, 2023.’ Please specify whether your response is confidential. Opinions offered in confidential responses may be referenced but will not be attributed in any way.

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