Platts to change frequency, specifications for Turkish CFR billet assessment

Platts, part of S&P Global Commodity Insights, will increase the frequency of its CFR Turkey steel billet assessment (SB01040) to daily from the current monthly frequency, effective Oct. 2, 2023, to better reflect the current market conditions following a change in international trade flows.

Platts first proposed these changes on Aug. 8: https://www.spglobal.com/commodityinsights/en/our-methodology/subscriber-notes/080823-platts-proposes-to-change-to-frequency-specifications-for-turkish-cfr-billet-assessment

Feedback gathered from market participants indicated an increasing demand for higher frequency price assessments, in order to present a more timely reflection of changing market conditions for the Turkish billet market.

In addition, Platts will update the assessments quality and timing specifications to reflect the most current and commonly traded parameters.

The specification changes are as follows:

Platts CFR Turkey billet assessment is published in SBB Steel Markets Daily, Steel Price Report and on Platts Dimensions Pro.

Please send any inquiries about these changes to Ferrous_EMEA@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.