SUBSCRIBER NOTE: Platts increases frequency, update specs of Venezuela HBI assessment

Effective April 13, 2018, S&P Global Platts has updated the specifications of its Venezuela HBI Export assessment as well as increased its frequency from monthly to weekly.

This decision relates to the price assessment "HBI Venezuela Exp FOB Venezuelan Ports Mthly" (SB01116), and follows from a proposal made on March 5th: https://www.platts.com/subscriber-notes-details/26902972 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 revised 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 supported a change to the standard payment terms reflected in Platts assessment to "Cash before delivery," from "30 days after delivery."

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

Please send any comments and feedback to adriana.carvalho@spglobal.com and pricegroup@spglobal.com.