Proposal to launch Indonesia steel billet import price assessment

This proposal to launch this price assessment is in response to market requests for a CFR Indonesia billet price for price benchmarking and referencing purposes. The twice-a-week publishing frequency will capture price volatility during the trading week in line with those requests.

Steel billet import, cfr Indonesia, $/tonne
Quality: 120x120mm to 150x150mm, length 12m, standard 5sp
Quantity: 5,000-50,000 tonnes
Location: CFR Indonesia
Timing: 6-10 weeks
Unit: USD per tonne
Payment terms: Letter of credit
Publication: Tuesday and Thursday, 5-6pm Singapore time 

This price will be a part of the Fastmarkets steel package

Prices for steel billet produced by mills using blast furnaces or electric-arc furnaces (EAFs) will be accepted. But lower-quality billet produced using induction furnaces will not be considered in the assessment.

The consultation period for this proposed launch starts from February 16 and will end on March 16. The launch will take place, subject to market feedback, on Tuesday March 19.

To provide feedback on this price or if you would like to provide price information by becoming a data submitter to this price, please contact Nabilah Awang by email at pricing@fastmarkets.com. Please add the subject heading “FAO: Nabilah Awang, re: steel billet import cfr Indonesia.”

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.