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Following discussions with market participants, Fastmarkets is proposing to narrow the thickness specification of its steel hot-dipped galvanized coil import, cfr main ports South America price to 1mm, from 0.4-1mm.
The assessment history for this price largely reflects material with 1mm of thickness of 100-120g of zinc coating because this was the most widely traded for Fastmarkets assessment since its inception.
Despite the 0.4-0.47mm market currently being more active in South America, 1mm is the base grade for galvanized steel and is more often tracked globally, market participants said.
Fastmarkets is also proposing to introduce a coating level specification to the steel hot-dipped galvanized coil import, cfr main ports South America price assessment of 100-120g of zinc.
The consultation period for this proposed amendment started on Tuesday July 14 and will end on Tuesday August 11, with changes set to take place from Friday August 14.
The proposed amended specifications are as follows, with changes highlighted in italics:
MB-STE-0104: Steel hot-dipped galvanized coil import, cfr main ports South America, $/tonne
Quality: Width 1,000-1,200mm, thickness 1mm, 100-120g of zinc coating
Quantity: 1,000-5,000 tonnes
Location: cfr South America (Brazil, Colombia, Peru, Chile)
Timing: 8-12 weeks
Unit: USD/tonne
Payment terms: Payment upon delivery in Colombia, Peru, Chile; financed up to 180 days in Brazil
Publication: Weekly. Friday 2-3pm London time
All historical data relating to the assessment prior to the amendment will remain available in the pricing section of the Fastmarkets website. Fastmarkets is concurrently proposing to change the publication time for its Latin American steel assessments. Please follow this link to see that notice.
To provide feedback on South American steel import price assessments, or if you would like to provide price information by becoming a data submitter, please contact Renato Rostás by email at pricing@fastmarkets.com. Please add the subject heading ‘FAO: Renato Rostás re: South American steel import price assessments.’
To see all Fastmarkets’ pricing methodology and specification documents, go to www.fastmarkets.com/about-us/methodology.