Platts proposes updates to HRC CFR ASEAN assessment

S&P Global Platts is proposing to rename and update the specifications of the TSI Hot Rolled Coil CFR ASEAN Ports assessment (TS01041), the basis of the HRC derivative contract on the Singapore Exchange, effective March 2, 2020, to reflect changes to market conditions.

Platts proposes to rename the assessment HRC CFR Southeast Asia SAE1006 with a basis port of Ho Chi Minh City.

Platts proposes to narrow the quality specification to SAE1006 or equivalent, and dimensions to a width of 1,200-1,500 mm and a thickness of 2 mm for 30% of a cargo, with the remainder volume up to 3 mm thick. Platts proposes to update the volume specified to 5,000 mt, and timing, a shipment date of 4-8 weeks forward from the date of publication.

As with the existing methodology, Platts will consider deals, bids and offers for cargoes of other specifications and shipment timings, and may normalize them to the above specifications for assessment purposes using differentials prevailing in the market.

The affected price is published in Platts Steel Price Report, Platts Metals Alert, Platts Price Analyzer and in the Platts price database under the symbols TS01041 (daily), TSMBZ03 (rolling monthly average) and TSMBO03 (monthly average). The assessment is accompanied by a daily commentary and rationale on Platts Metals Alert fixed pages 899 and 1199 respectively.

Please send all feedback, queries and comments by January 30, 2020 to pl_asia_steel@spglobal.com and pricegroup@spglobal.com. For written comments, please provide a clear indication if comments are not intended for publication by Platts for public viewing. Platts will consider all comments received and will make comments not marked as confidential available upon request.