The proposed amendments to the timing 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: Steel cold-rolled coil export, fob China, $/tonne
Dimensions: Width 1,000-1,250mm, thickness 1-1.2mm
Quantity: 1,000-10,000 tonnes
Location: fob China
Timing: 6-10 weeks
Unit: US$/tonne
Payment terms: Letter of credit on sight
Publication: Weekly. Tuesday, 5-6pm Singapore time
Notes: Quality SPCC. Inclusive of 13% VAT
Assessment: Steel galvanized coil 1mm export, fob China, $/tonne
Dimensions: Width 1,000-1,500mm, thickness 0.5- 2mm, 120g zinc
Quantity: 100-1,000 tonnes
Location: fob China
Timing: 6-10 weeks
Unit: US$/tonne
Payment terms: Letter of credit on sight
Publication: Weekly. Tuesday, 5-6pm Singapore time
Notes: Quality DX51D+Z120, zero-spangle. Inclusive of 13% VAT
The consultation period for these proposed amendments will end one month from the date of this pricing notice, on August 23, with changes taking place, subject to market feedback, from August 27.
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: steel cold-rolled coil export, fob China, $/tonne and steel galvanized coil 1mm export, fob China, $/tonne.’
To see all Fastmarkets’ pricing methodology and specification documents go to https://www.metalbulletin.com/ prices/pricing-methodology.html.