PRICING NOTICE: Fastmarkets to launch cfr China steel billet price

Fastmarkets will launch a weekly import price assessment for steel billet on a cfr China basis from February 26 after a month of consultation.

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.

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For comments and queries, please email hello.foex@fastmarkets.com, indicating “PIX Pellet Nordic Index” in the subject line of the email.