Business
Fastmarkets Launches Billet Price Assessment for CFR Indonesia Market
Fastmarkets, a leading price reporting agency, has announced the proposal to introduce a new price assessment for steel billets in the CFR Indonesia market. This initiative comes as a response to market demands for a benchmark price reference for steel billets in the region.
The newly proposed price assessment will focus on steel billet imports to CFR Indonesia, measuring quality specifications from 120x120mm to 150x150mm, with a length of 12 meters and standard 5sp. The quantity range for assessment will be set between 5,000 to 50,000 tonnes, providing a comprehensive view of the market dynamics.
The assessments, scheduled to be published twice a week on Tuesdays and Thursdays at 5-6 pm Singapore time, aim to capture the price volatility during the trading week, catering to the needs of market participants for up-to-date pricing information.
Fastmarkets has specified that only steel billets produced by mills using blast furnaces or electric-arc furnaces (EAFs) will be considered for the assessment. Billets produced using induction furnaces, which do not meet the quality standards, will not be included in the pricing evaluation.
The consultation period for this proposed launch begins on February 16 and will run until March 16. Market feedback during this period will be crucial in determining the final launch date, currently scheduled for March 19, subject to market response.
For further inquiries or to provide feedback on this price assessment, interested parties can contact Nabilah Awang via email. Those wishing to become data submitters for this price assessment are also encouraged to reach out to Fastmarkets.
Fastmarkets assures that all comments received during the consultation will be thoroughly considered. Comments marked as confidential will be handled accordingly, in adherence to regulatory principles and transparency standards.
To access Fastmarkets’ pricing methodology and specification documents, interested parties can visit the official website for detailed information.
