Fastmarkets has today changed the publication time of its CIS export steel billet index, fob Black Sea ports, from 2pm to 4pm London time.
Following a consultation period, Fastmarkets has made the change to better align the data collection window for the index with the trading patterns of the market, thereby ensuring that each daily index more accurately represents the trading activity of any given day.
The deadline for data submissions to the CIS billet index has been changed to 3pm London time daily from 1.30pm. Data received after this time will not be included in the calculation of the index for that day, which will be published at 4pm.
The data collection window is the 24-hour period up to 3pm on the day of publication. Only price data submitted and communicated to Fastmarkets within the data collection window will be included in the calculation of the daily index. The index is reflective of the price levels seen during the stated collection period.
Fastmarkets has no financial interest in the level or direction of the index.
If you have any comments on publication time change, please contact Vlada Novokreshchenova by email at:
pricing@metalbulletin.com. Please add the subject heading FAO: Vlada Novokreshchenova, re: CIS steel billet index.
To see all of Fastmarkets' pricing methodology and specification documents, please go to
https://www.metalbulletin.com/prices/pricing-methodology.html.