The initial proposal was published on May 1 and was extended on June 5 to get more market feedback.
The proposed new specifications are as follows:
MB-STE-0782 Steel billet export, fob ports Iran, $/tonne
Quality: 3-5sp,130x130mm to 150x150mm, length 12,000mm
Quantity: minimum 10,000 tonnes
Location: fob Iran
Timing: up to 8 weeks
Unit: USD/tonne
Payment terms: 10-30% prepayment, rest before vessel sail from seller’s port
Publication: Weekly. Wednesday, 2-3pm London time
MB-STE-0781 Steel slab export, fob ports Iran, $/tonne
Quality: Width 900-2,000mm, thickness 195-250mm, length 3,800-11,000mm
Quantity: minimum 10,000 tonnes
Location: fob Iran
Timing: up to 8 weeks
Unit: USD/tonne
Payment terms: 10-30% prepayment, rest before vessel sail from seller’s port
Publication: Weekly. Wednesday, 2-3pm London time
The extended consultation starts on Thursday July 4 and will end on Thursday August 1. The amendment will then take place, subject to market feedback, on Wednesday August 7.
To provide feedback on these prices, or if you would like to provide price information by becoming a data submitter to these price assessments, please contact Vlada Novokreshchenova by email at: pricing@fastmarkets.com. Please add the subject heading “FAO: Vlada Novokreshchenova, re: Iranian export billet and slab price assessments.”
Please indicate if comments are confidential. Fastmarkets will consider all comments received and will make comments not marked as confidential available upon request.
To see all of Fastmarkets’ pricing methodology and specification documents, go to https://www.fastmarkets.com/methodology.
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