PRICING NOTICE: Amendment of cfr Southeast Asia steel billet assessment

Fastmarkets has amended the quantity and timing specifications of its price assessment for steel billet imports, cfr Southeast Asia, $/tonne after a one-month consultation period.

The quantity assessed has been expanded to cargo sizes of 5,000-50,000 tonnes from 5,000-20,000 tonnes while the timing has been lengthened to 6-10 weeks from 6-8 weeks. The amendment will capture more spot billet market transactions in Southeast Asia.

All historical data relating to this price prior to the amendments will remain available in the pricing section of the Fastmarkets website.

Following the amendments, the full specifications will be as follows:

Assessment: Steel billet import, cfr Southeast Asia, $/tonne
Dimensions: 120x120mm to 150x150mm, length 12m
Quantity: 5,000-50,000 tonnes
Location: cfr Manila (other Southeast Asian ports are normalized)
Timing: 6-10 weeks
Unit: US$/tonne
Payment terms: Letter of credit
Publication: Daily, 5-6pm Singapore time

The amendments take effect from Tuesday August 20.

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 Lee Ken Kiat by email at: pricing@fastmarkets.com. Please add the subject heading ‘FAO: Lee Ken Kiat, re: steel billet import, cfr Southeast Asia, $/tonne.’

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

What to read next
Fastmarkets launched two new price assessments for Indonesia’s domestic trade in nickel ore on Tuesday July 15. The two price assessments are for domestic trades of Indonesian laterite ores with 1.6% and 1.2% nickel content. Indonesia now accounts for 60% of the global nickel supplies and while there is an official government reference price, known […]
Nickel pig iron (NPI) is a key feedstock material used for stainless steel production, and the CIF has grown to become one of the mainstream trading methods for the Chinese market. The proposed price assessment will allow Fastmarkets to bring more transparency to the Chinese NPI market. Fastmarkets has been tracking spot and DDP China […]
The proposal follows preliminary discussions with the market and internal analysis of price usage, which suggests low market liquidity and a lack of demand. Specifically, Fastmarkets is proposing to discontinue: MB-CU-0410 Copper rod premium, ddp Midwest US, US cents/lbQuality: Purity of 99.95-99.99%. Thicknesses of 8 millimeters or 0.3125 inchesQuantity: Min 25,000 poundsLocation: Delivered US MidwestUnit: US […]
After a month-long consultation period, Fastmarkets is amending the below specifications, following no negative feedback from market participants and internal data analysis. The following changes will take place: The new specifications are as follows, with amendments in italics: MB-CU-0002 Copper grade 1 cathode premium, ddp Midwest US, US cents/lb Quality: Grade A 99.9935% min copper cathode conforming to LME […]
The publication of the affected price was delayed for 3 hours and 8 mins. The affected price was: MB-AL-0343 Aluminium P1020A (MJP) spot premium, cif Japan, $ per tonne This price is a part of the Fastmarkets aluminium Asia-Japan package. For more information, or to provide feedback on the delayed publication of this price, or if […]
The publication of the affected prices was delayed for 50 minutes. The following indices were published late: MB-MNO-0001 Manganese ore high grade index, cif Tianjin, $ per dmtu MB-MNO-0002 Manganese ore semi carbonate index, 36.5% Mn, fob Port Elizabeth, $/dmtu MB-MNO-0003 Manganese ore semi carbonate index, 36.5% Mn, cif Tianjin, $/dmtu These prices are a part of the […]