Platts proposes to update location specification, increase frequency of steel slab CFR Southeast Asia assessment

Platts, part of S&P Global Commodity Insights, proposes to update the location specification of its steel slab CFR Southeast Asia assessment from Cigading to Surabaya, Indonesia, effective Sept. 25, to better reflect changes to trade flows and spot market liquidity.

Concurrently, Platts is proposing to increase the assessment frequency from monthly to weekly on Thursdays.

Of the 1.18 million mt of slab Indonesia imported in 2024, 67% was delivered to Surabaya, followed by 17% to Cilegon and 16% to Jakarta, according to data from Indonesia's Central Statistics Agency (BPS).

The assessment affected and the proposed changes are listed in the table below:

Under this proposal, Platts would continue to consider market information for delivery to Cigading and other Southeast Asian locations, and may apply normalizations, including for freight rates, to Surabaya.

Platts welcomes feedback on other assessment parameters including volume, timing, and payment terms.

Full details of the Slab CFR Southeast Asia specifications can be found here: https://www.spglobal.com/commodityinsights/PlattsContent/_assets/_files/en/our-methodology/methodology-specifications/steel-ferrous-methodology.pdf

Platts Slab CFR Southeast Asia assessments are published on fixed pages STL/PMA 1370 of the real-time Platts Steel Alert and Platts Metals Alert, in Steel Price Report and in the Platts price database.

Platts invites feedback, comments and questions on this proposal by Aug. 28 to pl_asia_steel@spglobal.com and 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.