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

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

This decision relates to the price assessment "HBI Venezuela Exp FOB Venezuelan Ports Mthly" (SB01116), and follows from a proposal made on February 12: https://www.platts.com/subscriber-notes-details/26890173 Spot liquidity and demand for Venezuela HBI has increased, and Platts has decided to assess such export trade on a weekly basis, on Fridays.

In addition, Platts will 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 also supports a change to the standard payment terms reflected in Platts assessment to "Cash before delivery," from currently "30 days after delivery."

Platts will also update the most commonly occurring shipment size to 10,000-30,000 mt, from current 10,000-20,000 mt.

Please send any comments and feedback to adriana.carvalho@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.