Platts to launch weekly CIF Italy steel slab import assessment

Following market feedback, Platts, part of S&P Global Commodity Insights, will launch a new weekly CIF Italy steel slab assessment, effective Sept. 2, 2022.

The new assessment 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 assessment was first proposed July 14 in a subscriber note available here: https://www.spglobal.com/commodityinsights/en/our-methodology/subscriber-notes/071422-platts-proposes-to-launch-weekly-cif-italy-steel-slab-import-assessment

The assessment will be published every Friday, in line with the publication day for Platts weekly European domestic plate assessments, and will follow Platts Market On Close methodology principles, which are described here: https://www.spglobal.com/commodityinsights/plattscontent/_assets/_files/en/our-methodology/methodology-specifications/platts-assessments-methodology-guide.pdf

The assessment specifications are as follows:

A euro conversion will also be published alongside associated monthly averages:

Normalization for quality, dimensions and cargo size will 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 assessment will be published in Steel Business Briefing, Steel Price Report, on page PMA1263 of Platts Metals Alert, on Platts Dimensions Pro and in the Platts price database.

Please address any questions or comments to ferrous_emea@spglobal.com and pricegroup@platts.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.