PRICING NOTICE: Amendment of specification of northern China domestic hot-rolled coil price

Fastmarkets has amended the location in the specification of its northern China domestic hot-rolled coil price assessment after a one-month consultation period.

The new location will be Tangshan instead of Tianjin as more mills are delivering HRC directly to buyers instead of transporting them to Tianjin for physical trading. This amendment will capture more spot liquidity for the northern China domestic HRC price assessment.
All historical data relating to this price prior to the amendment will remain available in the pricing section of the Fastmarkets MB website.
Following the amendment, the specification for the payable indicator will be as follows:
Assessment: Steel hot-rolled coil domestic, delivered Northern China 
Quality: Standard width 1,500mm, thickness 4.5-12mm
Quantity: 20-200 tonnes
Location: Ex-warehouse Tangshan
Timing: Spot
Unit: Yuan/tonne
Payment terms: Prompt payment upon delivery
Publication: Weekly. Friday, 2-3pm London time
Notes: Quality Q235B/SS400. Inclusive of 13% VAT
The amendment will start from July 29.
To provide feedback on the 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.

Paul Lim

paul.lim@fastmarkets.com

Published

Paul Lim

July 26, 2019

04:20 GMT

Singapore