Proposal to reduce publication frequency of Fastmarkets’ European stainless steel assessments

Fastmarkets proposes to reduce the publication frequency of its European stainless steel price assessments from weekly to monthly.

These are:
Stainless steel cold-rolled sheet 2mm grade 304 transaction domestic, delivered North Europe, €/tonne (MB-STS-0281)
Stainless steel cold-rolled sheet 2mm grade 304 base price domestic, delivered Northern Europe, €/tonne (MB-STS-0007)
Stainless steel bright bar grade 304 base price domestic, delivered Europe, €/tonne (MB-STS-0005)
Stainless steel cold-rolled sheet base price 316 2mm domestic, delivered Europe, €/tonne (MB-STS-0002)

The proposal is based on feedback from market participants as well as Fastmarkets’ own observations and analysis that price volatility in these markets would be appropriately reflected by monthly price assessments.

The stainless steel market in Europe is also heavily influenced by alloy surcharges, which are set by steelmakers on a monthly basis. As such, base prices and transaction prices also tend to move on a monthly basis.

Surcharges are generally published by the beginning of each month. Fastmarkets therefore proposes to publish its stainless steel prices on the first Friday of each month.

The consultation period for this proposed amendment starts from Monday May 15 and will end on Monday June 12. The amendment will then take place, subject to market feedback, on Friday June 16.

To provide feedback on this price or if you would like to provide price information by becoming a data submitter, please contact Ross Yeo by email at: pricing@fastmarkets.com. Please add the subject heading “FAO: Ross Yeo, re: European stainless steel.”

To see all Fastmarkets pricing methodology and specification documents, go to https://www.fastmarkets.com/methodology.

What to read next
The trade log in the rationale incorrectly identified an offer as a trade. The trade log has been corrected to: Vale, COREX, 170,000 tonnes of 62% Fe Brazilian Blend fines, offered at the June average of Fastmarkets’ 62% Fe low-alumina fines plus a premium of $1 per tonne, laycan May 18-27 (fixed-price equivalent calculated at […]
The publication of Fastmarkets’ MB-AL-0343 Aluminium P1020A spot premium, cif main Japanese ports (MJP) assessment for Wednesday April 2 was delayed because of a reporter error. Fastmarkets’ pricing database has been updated. The following price was affected:MB-AL-0343: Aluminium P1020A (MJP) spot premium, cif Japan, $/tonne The price is a part of the Fastmarkets base metals […]
Fastmarkets is making clarifying changes to the names of six current pallet assessments (listed below) and adding 12 new pallet price assessments.
The publication of Fastmarkets’ Turkish steel scrap import indices was delayed on Wednesday April 2 because of a technical fault. Fastmarkets’ pricing database has been updated. The following prices were affected: MB-STE-0416 Steel scrap HMS 1&2 (80:20 mix) North Europe origin, cfr Turkey, $/tonne MB-STE-0417 Steel scrap HMS 1&2 (80:20 mix) US origin, cfr Turkey, […]
After a consultation period, Fastmarkets has amended the frequency of its MB-TI-0009 Titanium dioxide pigment, sulfate grade, fob China, price assessment from weekly to fortnightly. The new fortnightly frequency will start on April 3, with the subsequent assessment on April 17. MB-TI-0009 Titanium dioxide pigment, sulfate grade, fob China, $ per tonneQuality: Sulfate gradeQuantity: Min 20 tonnesLocation: fob ChinaTiming: SpotUnit: $ […]
The publication of Fastmarkets’ iron ore DR-grade pellet premium, quarterly contract was delayed due to a reporter’s error. Fastmarkets’ pricing database has been updated. The MB-IRO-0077 Iron ore DR-grade pellet premium, quarterly contract was published on Wednesday April 2 – the second working day of the quarter, while usually it is published on the first […]