Fastmarkets AMM has extended the consultation period for proposed changes to the specifications and frequency of its wire rod price assessments, pushing the deadline for feedback to Monday December 10 from November 26.
Previously, Fastmarkets AMM proposed to change its cold-heading quality (CHQ) rod price to a North American delivered duty paid (ddp) Great Lakes region price from a US fob mill price. Fastmarkets AMM also proposed to discontinue its assessment of mesh-quality wire rod.
The extension is being made to solicit additional feedback on the proposed changes.
Fastmarket AMM’s current specification for CHQ rod is as follows:
Cold-heading quality wire rod Currency and Unit: US dollars per hundredweight Location: USA Basis: fob mill Frequency: Twice a month, second and fourth Wednesday Price Type: Assessment Quality: Between 0.22% and 0.45% carbon content Gauge: 7/32 to 3/8 inch outside diameter Typical lot size: 100 tons Raw Material Surcharges: Included
The proposed price specification is as follows, with changes highlighted in bold:
Cold-heading quality wire rod Currency and Unit: US dollars per hundredweight Location: North America Basis: delivered duty paid (ddp) Great Lakes region Frequency: Once a month, third Friday Price Type: Assessment Quality: Between 0.22% and 0.45% carbon content Gauge: 7/32 to 3/8 inch outside diameter Typical lot size: 100 tons Raw Material Surcharges: Included
In addition, Fastmarkets AMM has also proposed changes to its wire rod pricing schedule. Details of all proposed changes can be found in the original price notices, which were both published on October 11.
An update to this notice will be published on December 10, when the consultation period for this proposal ends.
Fastmarkets AMM has no financial interest in the level or direction of these assessments.
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 Rudarakanchana by email at: firstname.lastname@example.org. Please add the subject heading FAO: Nat Rudy, re: domestic wire rod.
To see all of Fastmarket AMM’s pricing methodology and specification documents, click here.