PRICING NOTICE: Proposal to amend specification of northern China domestic HRC price

Fastmarkets is proposing a change to the specification of its domestic hot-rolled coil price assessment for northern China, for it to be assessed on an ex-works basis in Tangshan rather than on an ex-warehouse basis.

November 7, 2019

By Miranda Song

This is to reflect the changing market situation in the region, amid the growing influence of Tangshan’s ex-works prices in the spot market.

The consultation period for this proposed amendment will end one month from the date of this pricing notice, on December 7, with changes taking place from December 9 subject to market feedback.

Following the amendment, the specification for the price will be as follows:

Assessment: Northern China domestic hot-rolled coil CNY per tonne
Quality: Standard width 1,500mm, thickness 4.5-12mm
Quantity: 20-200 tonnes
Location: Ex-works Tangshan
Timing: Spot
Unit: yuan/tonne
Payment terms: Prompt payment upon delivery
Publication: Every Friday, 5pm Shanghai time
Notes: Quality Q235B/SS400. Inclusive of 13% VAT

To provide feedback on the proposed amendment or if you would like to provide price information by becoming a data submitter to the northern China HRC price, 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 of Fastmarkets’ pricing methodology and specification documents, go to www.fastmarkets.com/about-us/methodology.