SUBSCRIBER NOTE: Platts proposes Venezuela HBI assessment frequency increase, specifications update

S&P Global Platts proposes to update the specifications of its Venezuela HBI Export assessment as well as increasing its frequency from monthly to weekly from April 13, 2018.

The frequency increase and revised specifications would reflect market changes.

This subscriber note relates to the price assessment "HBI Venezuela Exp FOB Venezuelan Ports Mthly" (SB01116).

Feedback from market participants has so far supported a move to a more regular assessment frequency.

Spot liquidity and demand for Venezuela HBI has increased, and Platts has observed that such export trade can show marked movement on a weekly basis.

Platts also proposes to revise the dimensions to (90-140) x (48-58) x (32-34) mm and quality for the briquette to:

- Metallization 94% - Fe (Total) 88.3% - 94% - Fe (Metallic) 83% - 88.4%

Observed trade data supports a change to the standard payment terms reflected in Platts assessment. Informal feedback has suggested revising to "Cash before delivery," from currently "30 days after delivery."

Platts invites market participants' feedback on the most commonly occurring shipment size. Platts currently normalizes to 10,000-20,000 mt; informal feedback has suggested revising the volume reflected to 10,000-30,000 mt.

In addition, Platts requests feedback on whether 4-6 weeks ahead for delivery lead times is a sufficiently wide window to catch the majority of spot trade.

Please send any feedback, comments or questions to adriana.carvalho@spglobal.com and pricegroup@spglobal.com by February 27, 2018.

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.