In November, Fastmarkets proposed launching a weekly price assessment for the Pakistan HMS steel scrap import market
following feedback indicating that such a price would be of value to market participants, both by itself and in conjunction with Fastmarkets’ existing Pakistan steel scrap prices, which include assessment of the imported shredded steel scrap price, launched in 2020.
This would also complement Fastmarkets’ other regional scrap prices, which include coverage of import scrap prices for India as well as Bangladesh.
The original consultation period was extended in December
and Fastmarkets is further extending the consultation period to ensure the new assessment is launched with the most appropriate specifications.
The proposed specifications are as follows:
Name: Steel scrap HMS, import, cfr Port Qasim, Pakistan, $ per tonne
Unprocessed HMS 1&2 (90:10 mix), HMS 1 - no GI, no CI, no autoparts
Minimum 100 tonnes (containerized)
cfr Port Qasim
USD per tonne
Letter of credit
Weekly; Friday, 4pm London time
Middle East origin only, exclusive of import tax
The extended consultation period for this proposed launch starts on January 21 and the consultation will now end on February 21, with the launch then taking place, subject to market feedback, on February 25.
To provide feedback on this proposed launch, or if you would like to provide price information by becoming a data submitter to this price, please contact Ross Yeo by email at email@example.com
. Please add the subject heading ‘FAO: Ross Yeo re: Pakistan HMS.’
To see all Fastmarkets’ pricing methodology and specification documents, go to: https://www.fastmarkets.com/about-us/methodology