SUBSCRIBER NOTE: Platts updates China metals assessment names on VAT change

S&P Global Platts will change the names of several steel and iron assessments due to alterations to China's value-added-tax regime effective May 2, 2018. China's VAT regime is changing from 17% to 16% for steel products from May 1, 2018.

Consequently, Platts is changing its assessment names to reflect this move. All other Platts metals assessments that include Chinese VAT will use the new rate from this date onwards.

Platts will change the following assessment names to:

Price Symbol Name SB01260 HRC Ex-stock Shanghai VAT-inclusive SB01082 CRC Ex-stock Shanghai VAT-inclusive Wkly SB01118 HDG Ex-stock Shanghai VAT-inclusive Mthly SB01178 Plate Ex-stock Shanghai VAT-inclusive Mthly SB01198 Rebar Ex-stock Beijing VAT-inclusive SB01259 Rebar EXW Jiangsu VAT-inclusive Wkly SB01262 Wire Rod Ex-stock Shanghai VAT-inclusive Wkly SB01136 HR304 Ex-warehouse Foshan VAT-inclusive Mthly SB01058 CR304 Ex-warehouse Foshan VAT-inclusive Mthly SB01074 CR430 Ex-warehouse Foshan VAT-inclusive Mthly SB01032 Billet Ex-stock Tangshan VAT-inclusive SB01159 IO Concentrate 66% Fe DDP Tangshan VAT-inclusive Wkly SB01129 HMS DDP Jiangsu steel mill VAT-inclusive Wkly

These assessments were named:

Price Symbol Previous Name SB01260 HRC Q235 5.5MM China Dom Prod Shanghai Incl 17%Vat SB01082 CRC China Dom Prod Shanghai Incl 17%Vat Wkly SB01118 HDG China Dom Prod Shanghai Incl 17%Vat Mthly SB01178 Plate China Dom Prod Shanghai Incl 17%Vat Mthly SB01198 Rebar HRB400 18-25MM China Dom Prod Beijing Trader Incl 17%Vat SB01259 Rebar HRB400 18-25 MM China Dom Prod Ex-works Jiangsu Incl 17% Vat Wkly SB01262 Wire Rod Q195 6.5MM China Dom Prod Shanghai Incl 17%Vat Wkly SB01136 HR 304 3MM China Dom Prod Foshan Incl 17%Vat Mthly SB01058 CR304 2B 2MM China Dom Prod Foshan Incl 17%Vat Mthly

SB01074 CR430 2B 2MM China Dom Prod Foshan Incl 17%Vat Mthly SB01032 Billet China Dom Prod Tangshan Incl 17%Vat SB01159 Iron Ore Cncentrt 66% Fe Dry China Dom Prod Dlvd Tangshan Hebei Incl 17%Vat Wkly SB01129 Hvy Scrap China Dom Prod Dlvd Mill Jiangsu Incl 17% Vat Wkly

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