Platts proposes to launch weekly CIF Italy steel slab import assessment

Platts, part of S&P Global Commodity Insights, is proposing to launch a weekly CIF Italy steel slab assessment, effective Sept. 2, 2022.

The proposal reflects changing trade flows into Italy following the Russian invasion of Ukraine. Platts has observed Italian flat steel re-rollers diversifying slab imports amid disruption of supply from Ukraine and cuts from Russian steelmakers due to EU sanctions, sourcing from alternative markets including India, China and Indonesia.

The proposed assessment specifications are:

Description: Slab CIF Italy Import

Frequency: weekly (Friday)

Quality: S235JR

Quantity: minimum 10,000mt

Dimensions: W 1,000-2,000 mm, T 200-300 mm, L 6-12 m

Incoterms: CIF

Location: Italy

Timing: Delivery 8-10 weeks

Payment: at sight

UOM: $/mt

Normalization for quality, dimensions and cargo size would reflect current differentials applied in the market, and locational normalization may make use of freight netbacks and freight forwards.

Information on adjacent markets may also be considered in the assessment process.

The proposed assessment would be published in Steel Business Briefing, Steel Price Report, via Platts Metals Alert, on Platts Dimensions Pro and in the Platts price database.

Platts invites feedback on this proposal to ferrous_emea@spglobal.com and pricegroup@platts.com by July 28.

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.