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Fastmarkets believes that changing the thickness to 10-40mm will better reflect the base import price in the current market.
Following the amendment, the name of the price will be “Steel heavy plate 10-40mm import, cfr main port India, $/tonne” and the specifications are as follows:
MB-STE-0446 Steel heavy plate 10-40mm import, cfr main port India, $/tonne Quality: A36B, SS400, ASTM, JIS Width:1,500-3,500mm Thickness: 10-40mm Quantity: Min lot size of 1,000 tonnes Location: cfr India Timing: 4-12 weeks Unit: $/tonne Payment terms: Letter of credit on sight Publication: Every Friday, 2-3pm London time
The change will apply from Friday October 2, after a consultation for the proposed change was held from August 26 to September 25.
To provide feedback on India’s domestic flat steel price assessments or if you would like to provide price information by becoming a data submitter, please contact Suresh Nair or Paul Lim by email at pricing@fastmarkets.com. Please add the subject heading ‘FAO: Suresh Nair/Paul Lim re: Indian domestic flat steel price assessments.’
To see all of Fastmarkets’ pricing methodology and specification documents, go to www.fastmarkets.com/about-us/methodology.