Fastmarkets wishes to clarify the specification of the Vietnam steel scrap assessment, which is based on heavy melting scrap 1&2 of 80:20 quality.
The name of this price, which from July 5 will have the symbol MB-STE-0783 exclusively associated with it, has been amended to steel scrap HMS 1&2 (80:20), cfr Vietnam, $/tonne. The specifications for this price are as follows:
Assessment: Steel scrap HMS 1&2 (80:20), cfr Vietnam, $/tonne
Quality: Heavy melting scrap (HMS) 1&2 (80:20)
Quantity: Bulk
Location: cfr southern Vietnam
Timing: Up to three months
Unit: US$ per tonne
Payment terms: Letter of credit
Publication: Friday, 5-6pm Singapore time
Although Fastmarkets has amended the description of the price by adding the 80:20 ratio to the name, the methodology for the discovery of this price remains unchanged. We will, however, update the price methodology document to reflect the standardization of this price name.
Fastmarkets will continue to publish this price in accordance with Singapore public holidays.
To provide feedback on this price or if you would like to provide pricing information by becoming a data submitter to this price, please contact Paul Lim by email at
pricing@fastmarkets.com. Please add the subject heading
FAO: Paul Lim, re: Vietnam ferrous scrap assessment.
To see all Fastmarkets' pricing methodology and specification documents go to
https://www.metalbulletin.com/
prices/pricing-methodology.html.