The changes will better align the index to actual trading activity, which has been active for open-origin low-volatility material, Fastmarkets believes.
The current price specifications for the weekly assessment are as follows:
PCI low-vol, cfr Jingtang, $/dmt
Quality: VM (ad) base 13%; ash (ad) base 9%; sulfur (ad) base 0.5%; phosphorus (ad) base 0.1%; TM (ar) base 10%
Quantity: Min 10,000 tonnes
Location: cfr Jingtang
Timing: Seaborne, laycan 16-60 days
Unit: USD/wet metric tonne
Payment Terms: Letters of Credit on sight
Publication: Weekly. Friday at 6.30pm Singapore time
Notes: All origins
The proposed specification changes are as follows:
Quality: VM (ad) base 13-15%; ash (ad) base 9.5%; sulfur (ad) base 0.4%; phosphorus (ad) base 0.1%; TM (ad) base 10%, HGI (ad) base 75, GCV (ad) base 7700, NCV (ad) base 6700
Quantity: Min 10,000 tonnes
Location: cfr Jingtang
Timing: Seaborne, laycan within 60 days
Unit: USD/wet metric tonne
Payment Terms: Letters of Credit on sight
Publication: Daily at 6.30pm Singapore time
Notes: All origins
These prices are a part of Fastmarkets' steelmaking raw materials package.
The consultation period for this proposed amendment starts on Tuesday September 5 and will end on Thursday October 5. The amendment, subject to market feedback, will be implemented on Thursday October 12.
To provide feedback on these indices or if you would like to provide price information by becoming a data submitter to these indices, please contact Olivia Zhang by email at: pricing@fastmarkets.com. Please add the subject heading FAO: Olivia Zhang, re: Fastmarkets PCI Index.
To see all Fastmarkets’ pricing methodology and specification documents go to https://www.fastmarkets.com/about-us/methodology.
