MethodologyContact usLogin
The assessments are:MB-STE-0558 Steel billet index export, fob Black Sea, CIS, $/tonneMB-STE-0016 Steel slab export, fob Black Sea, CIS, $/tonneMB-STE-0017 Steel wire rod (mesh quality) export, fob Black Sea, CIS, $/ tonneMB-STE-0014 Steel hot-rolled coil export, fob Black Sea, CIS, $/tonneMB-STE-0012 Steel cold-rolled coil export, fob Black Sea, CIS, $/tonne
The implementation of widespread western sanctions on Russia following its invasion of Ukraine in February 2022 has caused changes in the market, particularly payment terms for finished and semi-finished steel products.
The proposed new specifications are shown below, with the changes in italics:MB-STE-0558 Steel billet index export, fob Black Sea, CIS, $/tonneQuality: Base 3SP (grades Q275 Q235, 5SP and equivalent normalized). Base sectional dimension 130x130mm and 150x150mm, 6-12 m length (100x100mm, 125x125mm, 120x120mm normalized)Quantity: Min 2,500 tonnesLocation: fob NovorossiyskTiming: Up to 6 weeksUnit: USD/tonnePayment terms:15-30% advance payment possible, rest or 100% against shipping documents or upon deliveryPublication: Daily, 4pm London time
MB-STE-0016 Steel slab export, fob Black Sea, CIS, $/tonneQuality: Width 1,250-2,100mm, thickness 220- 270mm, length 6,000-12,000mmQuantity: 20,000-50,000 tonnesLocation: fob Black SeaTiming: 6-10 weeksUnit: USD/tonnePayment terms:15-30% advance payment possible, rest or 100% against shipping documents or upon deliveryPublication: Weekly. Monday, 2-3pm London time
MB-STE-0017 Steel wire rod (mesh quality) export, fob Black Sea, CIS, $/ tonne Quality: Standard diameter 6.5mmQuantity: 1,000-5,000 tonnesLocation: fob Black SeaTiming: 3-6 weeksUnit: USD/tonnePayment terms:15-30% advance payment possible, rest or 100% against shipping documents or upon deliveryPublication: Weekly. Monday, 2-3pm London time
MB-STE-0014 Steel hot-rolled coil export, fob Black Sea, CIS, $/tonneQuality: Width 1,000-1,500mm, thickness 2-8mmQuantity: 1,000-3,000 tonnesLocation: fob Black SeaTiming: 6-8 weeks lead timeUnit: USD/tonnePayment terms:15-30% advance payment and against shipping documents or upon deliveryPublication: Weekly. Monday, 2-3pm London time
MB-STE-0012 Steel cold-rolled coil export, fob Black Sea, CIS, $/tonneQuality: Width 1000-1,250mm, thickness 0.5- 2mmQuantity: 1,000-3,000 tonnesLocation: fob Black SeaTiming: 6-8 weeksUnit: USD/tonnePayment terms: 15-30% advance payment and against shipping documents or upon deliveryPublication: Weekly. Monday 2-3pm London time
These prices are a part of the Fastmarkets’ ferrous metals package.
The consultation period for the proposed amendments starts from Thursday April 18 and will end on Friday May 17. The amendments will then take place, subject to market feedback, on Wednesday May 22 for the billet index and on Monday May 27 for slab, wire rod, hot-rolled coil and cold-rolled coil assessments.
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 Vlada Novokreshchenova or Marina Shulga by email at: pricing@fastmarkets.com. Please add the subject heading “FAO: Vlada Novokreschenova or Marina Shulga, re: Black Sea steel products assessments, billet index.”
Please indicate if comments are confidential. Fastmarkets will consider all comments received and will make comments not marked as confidential available upon request.
To see all Fastmarkets’ pricing methodology and specification documents, go to https://www.fastmarkets.com/methodology.