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The assessment will be made on a cfr eastern China ports basis. Price points for other ports in mainland China obtained directly from active market participants will be normalized to a cfr eastern China basis.
The specifications for the proposed assessment are as follows:
Steel billet, import, cfr China, $/tonne Quality: 120x120mm to 150x150mm, length 12m, 3sp grade Quantity: 5,000-50,000 tonnes Location: cfr eastern China ports (normalized for other mainland Chinese sea ports) Timing: 4-8 weeks Unit: $ per tonne Payment terms: Letter of credit on sight Publication: Weekly, Friday, 5-6pm Shanghai time
If you would like to provide price information by becoming a data submitter to Fastmarkets’ steel billet pricing, please contact Jessica Zong or Lee Allen by email at: pricing@fastmarkets.com. Please add the subject heading “FAO: Jessica Zong/Lee Allen, re: China steel billet price.”
To see all of Fastmarkets’ pricing methodology and specification documents, go to https://www.fastmarkets.com/about-us/methodology.