Fastmarkets' proposal follows initial feedback that such an assessment would be of value to European market participants, both in itself and in conjunction with Fastmarkets' other regional long steel prices, which include wire rod market coverage for Southern and Northern Europe as well as the Poland domestic steel rebar market.
The Polish market plays an important role as both an importer and exporter owing to its central location in Europe neighboring the key German market while also serving as a price indicator for much of Eastern Europe.
Poland has two major wire rod producers, ArcelorMittal Sosnowiec and CMC Zawiericie, with a total nameplate capacity of 1.3 million tonnes per year.
The proposed specifications for the price are as follows:
Assessment: Steel wire rod (drawing quality), domestic, delivered Poland, zloty/tonne
Quality: drawing quality, s235jr, SAE1006 - below 0.25% carbon content, standard diameter 5.5 mm
Quantity: 25-500 tonnes
Location: delivered Poland
Timing: 6 weeks
Publication: Weekly on Friday, 2-3pm London time
The consultation period for this proposed launch starts on Friday February 12 and will end on Friday March 12. The assessment launch will take place, subject to market feedback, on Friday March 12.
Fastmarkets’ price assessment methodology screens outliers and applies a quantity-weighted model to ensure that the Poland steel drawing quality wire rod assessment is the most robust in the industry.
Fastmarkets has no financial interest in the level or direction of the assessment
To provide feedback on this proposal or if you would like to provide price information by becoming a data submitter to this pirce, please contact Julia Bolotova by email at: firstname.lastname@example.org. Please add the subject heading ‘FAO: Julia Bolotova, re: Poland wire rod assessment’.
To see all Fastmarkets’ pricing methodology and specification documents go to www.fastmarkets.com/about-us/methodology.