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This is due to market participants selling large quantities of DC01-grade CRC, which is of similar quality to SPCC products.
The amended specification for this price assessment will be:
MB-STE-0153 Steel cold-rolled coil domestic, delivered Eastern China domestic, yuan/tonne Quality: SPCC/DC01, width 1,000-1,250mm, thickness 1-1.2mm Quantity: 10-200 tonnes Location: Ex-warehouse Shanghai Timing: Spot Unit: RMB/tonne Payment terms: Prompt payment upon delivery Publication: Weekly. Friday, 5-6pm Shanghai time Notes: Inclusive of 13% VAT
The consultation period for this amendment was made between August 21 and September 20.
The change came into effect on Monday September 21.
To provide feedback on this assessment, or if you would like to provide price information by becoming a data submitter to this price assessment, please contact Paul Lim and Miranda Song by email at pricing@fastmarkets.com. Please add the subject heading ‘FAO: Paul Lim/Miranda Song, re: China export plate price assessment.’
To see all of Fastmarkets’ pricing methodology and specification documents, go to www.fastmarkets.com/about-us/methodology.