Platts updates FOB China and China domestic steel plate assessments

S&P Global Platts has updated the specifications of its FOB China and China domestic steel plate assessments with effect from Jan. 5, 2022 to better reflect current market conditions.

At the same time, Platts has increased the frequency of both assessments to weekly on Wednesdays from monthly previously.

The updated specifications are:

Plate FOB China (SB01180)

Quality: SS400

Volume: 500-3,000 mt

Width: 2,000-3,000 mm

Thickness: 12-20 mm

Location: Main Chinese ports

Timing: Shipment 1-2 months forward

Payment terms: L/C at sight

Plate China Domestic (SB01178)

Quality: Q235

Volume: 500 mt

Width: 2,000-3,000 mm

Thickness: 12-20 mm

Location: Shanghai

Timing: Prompt delivery

Payment terms: Cash before delivery

For both assessments, Platts considers pricing information for cargoes of other qualities (for example A36) and for other load ports and trading locations, and normalizes these to its standard specifications.

Information on adjacent markets may also be considered in the assessment process as a supplement to data concerning the primary market.

Normalization for quality, dimensions and cargo size is done based on current differentials applied in the market, and locational normalization may make use of freight netbacks and freight forwards.

Information about known export taxes and rebates is also considered in the assessment process.

The assessments appear in Platts Steel Alert on pages 1215, SBB Daily Briefing, Platts Price Analyzer and Platts Market Data Category SQ.

Please send any feedback, comments or questions to pl_asia_steel@spglobal.com and pricegroup@platts.com.

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