The proposed price assessment will increase the transparency of steel hot rolled coil prices in Asia, given the premium that Japan, Korea, Taiwan-origin HRC commands over material from other origins.
The proposed specifications for the steel hot-rolled coil import (Japan, Korea, Taiwan-origin), cfr Vietnam, $/tonne price assessment is as follows:
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 also proposes to change 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, with the final Monday publication on November 16 and the first Friday assessment taking place on November 20.
The consultation period for this proposed launch and amendment starts from Friday October 16, and will end on Monday November 16, with the launch and the amendment taking place, subject to market feedback, from Friday November 20, 2020.
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.