PRICING NOTICE: Proposal to amend specifications of CIS export flat steel prices

Fastmarkets proposes a realignment of the specifications for its export flat steel price assessments from the Commonwealth of Independent States following market changes.

Fastmarkets proposes to revise the payment terms and timing conditions for its export hot-rolled coil, cold-rolled coil and steel heavy plate assessments in line with current market conditions.

It also proposes to change the quantity in the specification of HRC assessment; this is based on the typical tonnages of deals reported on a regular basis by market sources.

In the specifications of HRC assessment, Fastmarkets also proposes to change the standard width; normally no cost extras are applied on material with widths equal to or greater than 1,000mm.

Fastmarkets also proposes to amend the width and thickness for its CRC assessment specification. Market feedback indicates that normally no cost extras are added to the price of material with width from 1,000mm to 1,500mm and thickness from 1mm to 2mm.

It also proposes to extend the length of plate in specification because in some export outlets lengths up to 12,000mm are considered to be standard.

Current specification:

Assessment: Steel hot-rolled coil export, fob Black Sea, CIS, $/tonne
Quality: Width 1,000-1,500mm, thickness 2-8mm
Quantity: 1,000-3,000 tonnes
Location: fob Black Sea
Timing: 6-8 weeks lead time
Unit: USD/tonne
Payment terms: 30% prepayment, 70% L/C
Publication: Weekly. Monday, 2-3pm London time

Proposed specification:
Assessment: Steel hot-rolled coil export, fob Black Sea, CIS, $/tonne
Quality: Width 1,000 mm, thickness 2-8mm
Quantity: 2,000-10,000 tonnes
Location: fob Black Sea
Timing: min 6 weeks
Unit: USD/tonne
Payment terms: Letter of credit on sight
Publication: Weekly. Monday, 2-3pm London time

Current specification:
Assessment: Steel cold-rolled coil export, fob Black Sea, CIS, $/tonne
Quality: Width 1,000-1,250mm, thickness 0.5- 2mm
Quantity: 1,000- 3,000 tonnes
Location: fob Black Sea
Timing: 6-8 weeks
Unit: USD/tonne
Payment terms: 30% prepayment, 70% L/C
Publication: Weekly. Monday 2-3pm London time

Proposed specification:

Assessment: Steel cold-rolled coil export, fob Black Sea, CIS, $/tonne
Quality: Width 1,000-1,500mm, thickness 1- 2mm
Quantity: 1,000-3,000 tonnes
Location: fob Black Sea
Timing: min 6 weeks
Unit: USD/tonne
Payment terms: Letter of credit on sight
Publication: Weekly. Monday 2-3pm London time

Current specification:
Assessment: Steel heavy plate 8-50mm export, fob Black Sea, CIS, $/tonne
Quality: Width 1,500-2,500mm, length 6,000mm, thickness 8-50mm
Quantity: 1,000-3,000 tonnes
Location: fob Black Sea
Timing: 6-8 weeks
Unit: USD/tonne
Payment terms: 30% prepayment, 70% L/C
Publication: Weekly. Monday, 2-3pm London time

Proposed specification:
Assessment: Steel heavy plate 8-50mm export, fob Black Sea, CIS, $/tonne
Quality: Width 1,500-3,000mm, length 6,000-12,000 mm, thickness 8-50mm
Quantity: 1,000-3,000 tonnes
Location: fob Black Sea
Timing: min 6 weeks
Unit: USD/tonne
Payment terms: Letter of credit on sight
Publication: Weekly. Monday, 2-3pm London time

The consultation period for these proposed amendments starts on October 13 and will end on Monday November 15. the amendment will rake place subject to market feedback, from Wednesday November 17.

To provide feedback on the amendments outlined above or if you would like to provide price information by becoming a data submitter to Fastmarkets’ export flat steel products from the CIS price assessments, please contact Marina Shulga by email at: [email protected] Please add the subject heading FAO: Marina Shulga, re: export flat steel products from the CIS.

To see all Fastmarkets’ pricing methodology and specification documents go to www.metalbulletin.com/prices/pricing-methodology

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