The proposal follows preliminary discussions with the market liquidity data collected by Fastmarkets which indicate that this price is not a key price benchmark.
Specifically, Fastmarkets is proposing to discontinue:
MB-STE-0162 Steel reinforcing bar (rebar) domestic, ex-whs Northern China, yuan/tonne
Quality: Grade III (HRB400), diameter 16-25mm
Quantity: 40-1,000 tonnes
Location: Ex-warehouse Beijing & Hebei
Timing: Spot
Unit: RMB/tonne
Payment terms: Prompt payment upon delivery
Publication: weekly. Friday, 5-6pm Shanghai time
Notes: Inclusive of 13% VAT
The price is part of the Fastmarkets steel price package.
The consultation period for this price discontinuation begins on Monday July 22 and will end on Wednesday August 21, with changes taking place, subject to market feedback, from Friday August 23.
All short-term forecasts associated with the price produced by the Fastmarkets research team, if any, will also be discontinued.
Fastmarkets will continue to publish the steel reinforcing bar (rebar) domestic, ex-whs Eastern China, yuan/tonne assessment, which is the price most accurately reflecting China’s rebar market.
To provide feedback on the proposal to discontinue price or if you would like to provide price information by becoming a data submitter to these prices, please contact Jessica Zong by email at: pricing@fastmarkets.com. Please add the subject heading “FAO: Jessica Zong, re: China rebar”.
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 Fastmarkets pricing methodology and specification documents, go to https://www.fastmarkets.com/methodology
The post Proposal to discontinue north China rebar price assessment appeared first on Fastmarkets.
