Fastmarkets proposes changes to the location specification of its northern China domestic hot rolled coil price assessment.
The new location will be Tangshan instead of Beijing after market participants increased their focus on Tangshan's HRC prices. This amendment will allow Fastmarkets to consider more spot liquidity within its assessment of domestic HRC prices in north China.
The consultation period for this proposed amendment will end one month from the date of this pricing notice, on July 26, with changes taking place, subject to market feedback, fromJuly 29.
Following the amendment, the specification for the payable indicator will be as follows:
Assessment: Northern China domestic hot rolled coil CNY per tonne
Quality: Standard width 1,500mm, thickness 4.5-12mm
Quantity: 20-200 tonnes
Location: Ex-warehouse Tangshan
Timing: Spot
Unit: RMB/tonne
Payment terms: Prompt payment upon delivery
Publication: Weekly. Friday, 2-3pm London time
Notes: Quality Q235B/SS400. Inclusive of 13% VAT
To provide feedback on the proposed amendment or if you would like to provide price information by becoming a data submitter to the northern China HRC prices, please contact Paul Lim and Miranda Song by email at:pricing@fastmarkets.com. Please add the subject heading 'FAO: Paul Lim/Miranda Song, re: northern China HRC price assessment.'
To see all Fastmarkets' pricing methodology and specification documents go to
www.fastmarkets.com/about-us/methodology