The proposed amendments to the location and quality of product to be assessed are made in response to changing market conditions. This will enable Fastmarkets to take more cargoes into consideration when making the weekly price assessments.
The full specifications, once the proposed amendments are made, will be as follows:
Assessment: Stainless steel cold-rolled coil, Asia grade 304 (2mm), cif East Asian port, $/tonne
Dimensions: Width 1,200-1,219mm, thickness 2mm
Quantity: 20-1,000 tonnes
Location: cif East Asia
Timing: 3-8 weeks
Unit: US$/tonne
Payment terms: Letter of credit on sight
Publication: Weekly, Wednesday, 5-6pm Singapore time
Notes: 2B surface finish. Trimmed or slit-edge
Assessment: Stainless steel hot-rolled coil, Asia grade 304, cif port East Asia, $/tonne
Dimensions: Width 1,500mm, thickness 4mm
Quantity: 20-1,000 tonnes
Location: cif East Asia
Timing: 3-8 weeks
Unit: US$/tonne
Payment terms: Letter of credit on sight
Publication: Weekly, Wednesday, 5-6pm Singapore time
Notes: No1 surface finish. Trimmed or slit-edge
The consultation period for these proposed amendments will end one month from the date of this pricing notice, on August 24, with changes taking place, subject to market feedback, from August 28.
To provide feedback on these prices or if you would like to provide price information by becoming a data submitter to these prices, please contact Lee Ken Kiat by email at: pricing@fastmarkets.com. Please add the subject heading ‘FAO: Lee Ken Kiat, re: stainless steel cold-rolled coil, Asia grade 304 (2mm), cif East Asian port, $/tonne and stainless steel hot-rolled coil, Asia grade 304, cif port East Asia, $/tonne.’
To see all Fastmarkets’ pricing methodology and specification documents go to https://www.fastmarkets.com/about-us/methodology.