Fastmarkets has amended the specifications of its price assessments for stainless steel cold-rolled coil, Asia grade 304 (2mm), cif East Asian port, $/tonne and stainless steel hot-rolled coil, Asia grade 304, cif port East Asia, $/tonne after a one-month consultation.
The price assessment for stainless steel cold-rolled coil, Asia grade 304 (2mm), cif East Asian port, will have its location changed to cif East Asia from cif East Asia (Hong Kong) and its quality amended to include trimmed or slid-edge products with 2B surface finish.
The price assessment for stainless steel hot-rolled coil, Asia grade 304, cif port East Asia, $/tonne, will have its location changed to cif East Asia from cif East Asia (Kaohsiung in Taiwan; Busan and Incheon in South Korea) and its quality amended to include trimmed or slit-edge products with No1 surface finish.
The amendments will enable Fastmarkets to take more cargoes into consideration when making these weekly price assessments.
All historical data relating to these prices prior to the amendment will remain available in the pricing section of the Fastmarkets website.
Following the amendments, the full specifications are as follows:
Assessment: Stainless steel cold-rolled coil, Asia grade 304 (2mm), cif East Asian ports, $/tonne
Quality: Width 1,200-1,219mm; thickness 2mm; 2B surface finish; trimmed or slit-edge
Quantity: 20-1,000 tonnes
Location: cif East Asia
Timing: 3-8 weeks
Unit: US$/tonne
Payment terms: Letter of credit on sight
Publication: Weekly, Wednesday, 5-6pm Singapore time
Assessment: Stainless steel hot-rolled coil, Asia grade 304, cif East Asian ports, $/tonne
Quality: Width 1,500mm; thickness 4mm; No1 surface finish; trimmed or slit-edge
Quantity: 20-1,000 tonnes
Location: cif East Asia
Timing: 3-8 weeks
Unit: US$/tonne
Payment terms: Letter of credit on sight
Publication: Weekly, Wednesday, 5-6pm Singapore time
The amendments will apply from August 28.
To provide feedback on these prices or if you would like to provide price information by becoming a data submitter, please contact Lee Ken Kiat by email at: pricing@fastmarkets.com. Please add the subject heading "FAO: Lee Ken Kiat, re: stainless steel cold-rolled coil, Asia grade 304 (2mm), cif East Asian port, $/tonne and stainless steel hot-rolled coil, Asia grade 304, cif port East Asia, $/tonne."
To see all of Fastmarkets' pricing methodology and specification documents, go to https://www.fastmarkets.com/about-us/methodology.