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After a consultation period, Metal Bulletin has launched a weekly price for Asia grade 304 stainless steel HRC imports into East Asia to better reflect trading fundamentals, in that the main stainless steel products being traded in the market are coil rather than sheet.
The specifications for this assessment are as follows:
Assessment: Asia grade 304 stainless steel hot rolled coil $ per tonne cif East Asian ports Dimensions: Width 1,500mm, thickness 4mm Quantity: 20-1,000 tonnes Location: CIF East Asia (Kaohsiung in Taiwan, Busan and Incheon in South Korea) Timing: 3-8 weeks Unit: USD/tonne Payment terms: Letter of credit on sight Publication: Weekly. Wednesday, by 3pm London time
The new price replaces the Asia grade 304 stainless steel hot-rolled sheet $ per tonne cif East Asia ports price from July 11.
At the same time, Metal Bulletin has changed the publication day of its China domestic stainless steel price assessments.
From July 11, the China domestic grade 304 stainless steel cold-rolled coil (2mm) yuan per tonne in-warehouse price and the China domestic grade 430 2mm stainless steel cold-rolled coil yuan per tonne in-warehouse price will be published on Wednesday. The amended publication day aligns the China domestic price assessments with the East Asian import prices.
All historical data relating to the aforementioned assessments prior to the changes on Wednesday July 11 will remain available in the pricing section of the Metal Bulletin website.
Metal Bulletin has no financial interest in the level or direction of the assessments.
To provide feedback on these changes, or if you would like to provide pricing information by becoming a data contributor to the East Asian stainless steel assessments, please contact Fiona Lam by email at: pricing@metalbulletin.com. Please add the subject heading ‘FAO: Fiona Lam, re: East Asia stainless steel import prices.’
To see all of Metal Bulletin’s pricing methodology and specification documents, click here. https://www.metalbulletin.com/prices/pricing-methodology.html