PRICING NOTICE: Proposal to upgrade weekly fob China rebar assessment to daily index
Metal Bulletin proposes to convert the weekly fob China Rebar price assessment for 12-32mm chromium-added rebar, to a daily index, starting from October 16 this year.
Following market feedback requesting a more frequent reference, Metal Bulletin is proposing the introduction of a Daily fob China Rebar Index with payment terms of $ per tonne, on an actual weight basis. This will replace the weekly assessment of fob China Rebar prices.
The proposed changes are intended to ensure that Metal Bulletin’s rebar export prices will track price changes closely, because export prices have been fluctuating rapidly on the influence of Chinese domestic prices.
A transaction-based index methodology is thought to be the most robust mechanism to reflect the behaviour of this market reliably, and would fulfil requests from participants for an objectively calculated price.
Metal Bulletin’s index methodology screens outliers and applies a quantity-weighted model to ensure that the fob China rebar price is the most robust in the industry.
Metal Bulletin has no financial interest in the level or direction of the index.
The consultation period for this proposed change will end one month from the date of this pricing notice, on October 8, with the first official price for the index scheduled for publication on October 16.
To provide feedback on this index, or if you would like to provide price information by becoming a data submitter to this index, please contact Jessica Zong by email at: firstname.lastname@example.org. Please add the subject heading FAO: Jessica Zong, re: fob China rebar index.
To see all Metal Bulletin’s pricing methodology and specification documents, go to https://www.metalbulletin.com/prices/pricing-methodology.html.