Platts launches India domestic rebar assessment, daily HRC assessment

S&P Global Platts will begin publishing daily India domestic rebar assessment and increase the frequency of its existing domestic hot rolled coil assessment to daily, effective Feb. 22.

The decision note published Jan. 21 is available here: https://www.spglobal.com/platts/en/our-methodology/subscriber-notes/012122-platts-to-launch-india-domestic-rebar-assessment-daily-hrc-assessment

The specifications of the rebar assessment are:

Quality: IS1786 Fe500D/Fe550D

Volume: min. 15 mt

Diameter: 12-25 mm

Location: delivered Raipur

Timing: Prompt to 21 days forward

Currency: Indian Rupee

Payment terms: Cash before delivery

Time-stamp: 05:30 pm Singapore time

The assessment reflects rebar produced using the Induction Furnace route, and Platts may normalize other pricing information for quality, dimensions and cargo size based on current differentials used in the market to the standard specifications. The assessment excludes GST.

Locational normalization may also make use of freight netbacks and freight net forwards.

The specifications are more closely aligned with the bulk of the rebar volumes being traded in the Indian market, and those that exhibit market movement on a daily basis.

At the same time, Platts has increased the frequency of the existing HRC India Domestic Mumbai Delivered (TS01046) assessment to daily from weekly, with existing specifications remaining unchanged.

In reflection of current market practices, Platts has updated the payment terms of the HRC assessment to cash before delivery from the current cash on delivery.

The assessments will appear in Platts Steel Alert, 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.

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.