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The discontinuations of the Indian domestic steel rebar and steel billet price assessments are because feedback from the market confirms that the majority of quality long steel in India is produced via the blast furnace route, so the current assessments – which are for domestic rebar and billet produced through the induction furnace route – are no longer relevant as pricing benchmarks.
The prices to be discontinued are:
MB-STE-0438 Steel rebar, domestic, exw India, rupees per tonneQuality: IS 1786 Gr A 20 mm Fe 500, induction furnace grade, min size: 12-25mm diameterQuantity: Min lot size: 50 tonnesLocation: Ex-worksTiming: 1, 2 and 3 weeksUnit: INR per tonnePayment terms: 30 days from delivery.Publication: Weekly, Friday, 2-3pm London time.
MB-STE-0433 Steel billet, domestic, exw India, rupees per tonneQuality: IS 2831, 100x100mmQuantity: Min lot size: 50 tonnesLocation: Ex-works IndiaTiming: 1, 2 and 3 weeksUnit: INR per tonnePayment terms: 30 days from delivery.Publication: Weekly, Friday 2-3pm London time.
These prices are part of the Fastmarkets steel package.
The consultation period for these price discontinuations starts from Friday November 7 and will end on Friday December 5, with changes taking place, subject to market feedback, from Wednesday December 10.
All short-term forecasts associated with this price produced by the Fastmarkets research team, if any, will also be discontinued.
To provide feedback on the proposal to discontinue these prices, or if you would like to provide price information by becoming a data submitter, please contact pricing@fastmarkets.com and steel@fastmarkets.com. Please add the subject heading “re: Indian domestic billet and rebar price assessments.”
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 the Fastmarkets methodology page.