PRICING NOTICE: Launch of Spain domestic HRC price assessment

Following a month-long consultation period, Fastmarkets has launched a weekly assessment of the price for steel hot-rolled coil, domestic, exw Spain, € per tonne.

This new assessment for domestic HRC prices in Spain and the daily index for similar material in Italy, launched on March 18, have replaced the weekly assessment for HRC in Southern Europe.

HRC prices in Spain have traditionally been higher than those in Italy, but significantly lower than prices in the north of Europe. So the launch of this weekly assessment will ensure that pricing data remains available for this important European market. It will bring the additional benefit of distinguishing prices and trends between Southern Europe’s two primary flat steel markets.

Spain’s HRC production for 2020 has been estimated at 3.1 million tonnes, or 5% of the EU total. Prices in the country are currently covered by Fastmarkets’ existing Southern Europe domestic assessment for HRC.

The specifications for the price are as follows:

Assessment: MB-STE-0893 Steel hot-rolled coil, domestic, exw Spain, € per tonne

Quality: Grade s235jr, width 1,250-1,500mm, thickness 3-4mm; standard extras for dimensions excluded

Quantity: Minimum 50 tonnes

Location: ex-works Spanish mills

Timing: Up to 6 weeks

Unit: € per tonne

Payment terms: Typical commercial practice in the HRC market. Transactions that are conducted on different payment or credit terms will be adjusted back to the base specifications, taking into account discounts and standard.

Publication: Wednesdays, 2-3pm London time

Notes: Only material offered to/traded within Spain, as defined above, will be considered.

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 Maria Tanatar by email at: pricing@fastmarkets.com. Please add the subject heading ‘FAO: Maria Tanatar, re: Spain domestic HRC.’

To see all Fastmarkets’ pricing methodology and specification documents go to: https://www.fastmarkets.com/about-us/methodology.