Subscriber note: Platts to amend specifications for US rebar assessments

After a period of industry feedback, Platts had decided to amend the specifications for its southeastern US rebar price assessment published in Steel Markets Daily, Platts Metals Alert, the Price Analyzer, and Platts Market Data, effective September 3, 2013. The feedback/comment period ended July 31. 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 rebar 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 will normalize 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 will stay the same. Please direct any questions to estelle.tran@platts.com or christopher.davis@platts.com.