PRICING NOTICE: Metal Bulletin will launch CIS export billet index

Metal Bulletin will launch a weekly index for CIS export steel billet on the fob Black Sea ports basis, beginning next month.

Observation of the liquidity in the CIS export billet market required a more specific methodology and tailored calculation, which this new index can deliver.

The billet index will replace the CIS export billet $ per tonne fob Black Sea ports price assessment.

Metal Bulletin intends the index to be a fair and representative price based on a clear specification, and backed by a robust methodology applied successfully to many other markets.

The index is structurally designed to balance the influence of all sides of the market, preventing market distortions, and to remove incorrect or misreported data. All market data is combined into a single reference price, allowing maximum liquidity, and hence representation, in the model.

The index will be based on actual transactions, as well as offers and bids which are reported to Metal Bulletin by any market participant which is conducting trades.

To bring this price to the market, Metal Bulletin will use the expertise of its team of specialist journalists as well as its separate index team, which has wide experience of creating indices for use by the metals and steel markets.

The index will be published weekly on Mondays, or on the next working day in the event that a Monday falls on a UK public holiday.

The CIS export billet index will be first published on May 15, 2017, following research and consultation with the industry.

The index will be calculated on a $ per metric tonne basis, fob Black Sea.

Metal Bulletin has no financial interest in the level or direction of the index.

Wide industry participation in the indices is welcome. If you have any comments or would like to contribute to the CIS export billet index, contact CIS, Turkey & Middle East editor Nadia Popova on

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