Subscriber Note: Platts proposes new specifications for US rebar assessments

Platts is proposing to amend specifications for its southeastern US rebar price assessment published in Steel Markets Daily, Platts Metal Alert, the Price Analyzer, and Platts Market Data from August 12, 2013. The current assessment reflects prices for No.6-11 reinforcing bar, ex-works southeastern mill with a 1,000-2,000 short ton purchase. The Platts symbol is STCBC00. The market has shifted in favor of No. 5 bar (diameter 0.625 inches and 15.875 mm). With the volatility in the scrap and rebar pricing market and the prevailing construction industry demand, many rebar buyers choose to buy less tonnage, but more frequently. To capture and reflect these market changes, Platts proposes normalizing bids, offers and transactions to a new standard, No.5 ASTM A615 grade 60 rebar with a new minimum order of 100 st, ex-works southeastern US mill using prevailing market extras. The size specification would also apply to the Platts weekly midwestern rebar price assessment. The symbol for the midwestern rebar price assessment is SB01202. All other specifications would stay the same. The proposed effective date is August 12, 2013. Please send comments and questions by July 15, 2013 to estelle.tran@platts.com, and christopher.davis@platts.com, with a cc to pricegroup@platts.com.