The index is a tonnage-weighted calculation intrinsically linked to market transactions. Following internal analysis, Metal Bulletin is proposing to lower the minimum tonnage included in the index in order to ensure that concluded transactions have the largest effect on the final index calculation.
The proposed new minimum tonnage to be included in this index is 2,500 tonnes; it is currently 5,000 tonnes. The only proposed changes to this index are in relation to the minimum tonnage level.
The proposed specifications are as follows:
- Index: CIS export billet fob Black Sea
- Dimensions: 130x130mm, 6-12,000mm length
- Grade: 3sp
- Quantity: minimum 2,500 tonnes
- Location: fob Black Sea
- Timing: up to 6 weeks
- Unit: US$ per tonne
- Payment terms: 30% prepayment, 70% L/C
- Publication: Daily, Monday, 2-3pm London time
Metal Bulletin is seeking feedback from active participants in the billet market on the changes proposed above.
The consultation period for this proposal will end on August 3, with the changes, if successful, taking place from August 6.
Metal Bulletin has no financial interest in the level or direction of the index.
To provide feedback on this price or if you would like to provide price information by becoming a data submitter to this price, please contact Vlada Novokreshchenova by email at: pricing@metalbulletin.com. Please add the subject heading FAO: Vlada Novokreshchenova, re: CIS export billet index.
To see all Metal Bulletin’s pricing methodology and specification documents go to https://www.metalbulletin.com/prices/pricing-methodology.html