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After a month-long consultation period, which started on Friday October 16 and ended on Monday November 16, Fastmarkets has launched a steel hot-rolled coil import (Japan, Korea, Taiwan-origin), cfr Vietnam, $/tonne price assessment to add value to its coverage of the flat steel sector in East Asia, after feedback from key market participants.
The price assessment will increase the transparency of steel HRC prices in Asia, given the premium that Japan, Korea and Taiwan-origin HRC commands over material from other origins.
The specifications are as follows:
MB-STE-0888 – Steel hot-rolled coil import (Japan, Korea, Taiwan-origin), cfr Vietnam, $/tonne Quality: SAE1006 (or SPHC, JIS G 3131), width 1,200-1,250mm, thickness 2-3mm Quantity: Min lot size 2,000 tonnes Location: cfr Southeast Asia (Vietnam) Timing: 6-8 weeks Unit: USD/tonne Payment terms: Letter of credit on sight Publication: Weekly. Friday 5-6pm Singapore time
Fastmarkets has also changed the publication day of its existing MB-STE-0139 steel hot-rolled coil import, cfr Vietnam, $/tonne price assessment for material from all origins from Monday to Friday. The final Monday publication was on November 16, with the first Friday assessment taking place today, November 20.
To provide feedback on these prices or if you would like to provide price information by becoming a data submitter to either assessment, please contact Paul Lim by email at pricing@fastmarkets.com. Please add the subject heading ‘FAO: Paul Lim, re: Steel hot-rolled coil import (Japan, Korea, Taiwan-origin), cfr Vietnam or all-origins price.’
To see all Fastmarkets’ pricing methodology and specification documents go to https://www.fastmarkets.com/about-us/methodology.