The proposal is to reduce the frequency of the price assessment for
steel scrap HMS 1&2 (80:20 mix) US material import, cfr main port Taiwan from daily to twice a week, based on the liquidity of the market.
According to the number of transactions concluded in recent months, Fastmarkets believes that twice weekly is a reasonable frequency to capture the price movements in Taiwan’s scrap import market within any given week. The proposal is to publish the assessment on Tuesdays and Thursdays.
The amended price methodology is proposed as follows:
MB-STE-0464 - Steel scrap HMS 1&2 (80:20 mix) US material import, cfr main port Taiwan, $/tonne
Quality: Heavy melting scrap (HMS) 1&2 (80:20)
Quantity: Minimum 200 tonnes (containerized)
Location: CFR Taiwan main port
Timing: Up to three months
Unit: US$/tonne
Payment terms: LC, bank transfer
Publication: Twice-weekly, Tuesday and Thursday, 5-6pm Singapore time
The consultation period for this proposed amendment starts from Wednesday May 10 and will end on Monday June 12. The amendment will then take effect, subject to market feedback, from Thursday June 15.
To provide feedback on this price assessment, or if you would like to provide price information by becoming a data submitter to this price, please contact Tianran Zhao by email at:
pricing@fastmarkets.com. Please add the subject heading “FAO: Tianran Zhao re: Taiwan import scrap price.”
To see all Fastmarkets’ pricing methodology and specification documents, go to:
https://www.fastmarkets.com/methodology.
