Following an extended consultation period, Fastmarkets is to discontinue four Argentinian steel price assessments from Friday October 9, following a long period of low liquidity and an inactive spot market.
The prices to be discontinued are as follows:
MB-STE -0003 Steel hot-rolled coil monthly assessment domestic, exw Argentina, $/tonneMB-STE -0001 Steel cold-rolled coil monthly assessment domestic, exw Argentina, $/tonne MB-STE -0002 Steel hot-dipped galvanized coil monthly assessment domestic, exw Argentina, $/tonne MB-STE- 0196 Steel reinforcing bar (rebar) domestic monthly assessment, exw Argentina, $/tonne
These prices have been published by Fastmarkets since June 2013, but over the past year liquidity has dried up as the Argentinian economy has been in crisis. The steel supply chain in the country was small to begin with and has consolidated further as the economy has struggled, making data collection challenging.
The original
consultation period began on Tuesday July 14 and was subsequently
extended on September 8. The extended consultation ended on Tuesday October 6, with the changes taking place from Friday October 9.
If you have any comments on the discontinuation of these price assessments, please contact
pricing@fastmarkets.com. Please add the subject heading 'FAO: Thorsten Schier, Felipe Peroni re: Argentina steel prices.'
To see all Fastmarkets' pricing methodology and specification documents go to
https://www.fastmarkets.com/about-us/methodology.