Proposal to amend publishing frequency of Pakistan shredded steel scrap index

Fastmarkets proposes to increase the publishing frequency of its Pakistan shredded steel scrap import index from weekly to twice per week.

Under the proposal, the steel scrap shredded, index, import, cfr Port Qasim, Pakistan $/tonne will be published twice weekly, on Tuesdays and Fridays. Currently it is published only on Fridays.

The change is being proposed in order to better capture price volatility in Pakistan’s containerized steel scrap import market.

All other specifications of the index will remain unchanged. The proposed specifications are as follows:

MB-STE-0887 Steel scrap shredded, index, import, cfr Port Qasim, Pakistan, $ per tonne
Quality: Shredded scrap, compliant to ISRI specifications 210-212.
Quantity: Minimum 500 tonnes
Location: cfr Port Qasim, Pakistan
Timing: Within six weeks Unit: $ per tonne
Payment terms: Letter of credit
Publication: Twice-weekly, Tuesdays and Fridays at 4pm London time
Notes: Containerized, all origins.

This price is part of the Fastmarkets scrap package.

The consultation period for this proposed amendment starts from Friday March 15, and will end on Friday April 12. The amendment will then take place, subject to market feedback, on Tuesday April 19.

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 Aameer Sayed by email at: pricing@fastmarkets.com. Please add the subject heading “FAO: Aameer Sayed re: Pakistan shredded steel scrap 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.

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