SUBSCRIBER NOTE: Platts proposes US steel import incoterm change

Houston (Platts)--16Jul2018/1256 pm EDT/1656 GMT S&P Global Platts invites industry feedback on a proposal to update the incoterms for its US imports assessments, effective September 3, 2018, to reflect current trading practices.

The assessments include: HRC CIF US Gulf Coast (STHRG00), CRC CIF US Gulf Coast (STRRG00), HDG North America imports CFR Gulf port (SB01124), Plate CIF US Gulf Coast (STPRG00) and Rebar CIF US Gulf Coast (STCBG00)

Platts is proposing to adjust its pricing for five US import assessments to a DDP, loaded truck Gulf Coast basis. The change is to reflect transaction prices for import buyers in the US market and remove variances caused by differing tariff rates and trader costs.

Platts would consider trades, bids and offers until the Market on Close timestamp of 3:30 pm Eastern Standard Time on the respective publishing dates.

Information on cargoes of other specifications and delivered to other locations may also be considered in the absence of information pertaining to the above specifications.

Such information would be normalized to the standard specifications using spreads observed in the marketplace.

The assessments would be published in Platts Steel Price Report, Platts Price Analyzer, Platts Metals Alert and Platts Market Data, with a publication schedule following the US public holiday calendar.

Please send all feedback, queries and comments by July 27, 2018, to steel_americas@spglobal.com & 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.