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Fastmarkets will amend the frequency and specifications of its wire rod prices, following a market consultation that began on October 11.
All changes will take effect on January 1, 2019.
As originally proposed, Fastmarkets will change its cold-heading quality (CHQ) rod assessment from a US fob mill price to a North American delivered duty paid (ddp) Great Lakes region price. The CHQ price will be assessed once a month, on the third Friday of the month.
In addition, Fastmarkets will change its wire rod pricing schedule.
The industrial-quality wire rod price will be assessed once a month, on the third Tuesday of the month. Presently, the industrial-quality price is assessed twice a month, on the second and fourth Wednesdays of the month.
The import wire rod price also will be assessed once a month, on the third Tuesday of the month, alongside the industrial-quality wire rod price. Presently, the import price is assessed twice a month, on the second and fourth Wednesdays of the month.
The high-carbon wire rod price will be assessed once a month, on the third Friday of the month, alongside the cold-heading-quality rod price. Presently, the high-carbon price is assessed twice a month, on the second and fourth Wednesdays of the month.
Fastmarkets methodology and specification documents will be updated accordingly.
All historical data relating to these prices prior to the amendment will remain available in the pricing section of the Fastmarkets website.
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 Nat Rudy by email at: pricing@fastmarkets.com. Please add the subject heading FAO: Nat Rudy, re: US wire rod.
To see all of Fastmarkets pricing methodology and specification documents, click here.