Metals & Mining Theme, Ferrous

September 18, 2023

Platts changes China HRC assessment specifications

Platts, part of S&P Global Commodity Insights, has revised the specifications of some of its China HRC assessments, effective Sept. 18, 2023, to better reflect current market conditions and expand collection points of market data based on feedback gathered from the market.

Revisions include quality and/or dimensions specifications for HRC Ex-stock Shanghai, HRC FOB China SS400 and HRC FOB China SAE1006.

The location basis for HRC FOB China SAE1006 was also widened, from Tianjin ports currently to Tianjin, Jingtang, Caofeidian and Bayuquan ports, to reflect the bulk of SAE1006 data observed from northern China ports.

Details regarding the changes can be found in the table below:

HRC Ex-stock Shanghai VAT-inclusive (Symbols: SB01260, SB01360) HRC FOB China SS400 (Symbol: STHRZ02) HRC FOB China SAE1006 (Symbol: STHSA00) HRC FOB China SAE1006 Premium (Symbol: STHRY00)
Affected Assessments Old Specification New Specification
Quality: Q235 Quality: Q235B, based on latest GB/T 3274-2017 standards
Width: 1250 mm Width: 1500 mm
Thickness: 5.5 mm Thickness: 5.75mm
Quality: SS400 or equivalent GB/ T912 grade Quality: SS400 or equivalent grade Q235B in Chinese domestic market
Q235 in Chinese domestic market Width: 1200-1500mm
Width:1200-1500 mm Thickness: 3mm
Thickness: 3mm
Quality: SAE1006 Quality: SAE1006
Width: 1200-1500 mm Width: 1200-1300 mm
Thickness: 2mm Thickness: 2mm
Ports: Tianjin Ports: Tianjin, Jingtang, Caofeidian and Bayuquan
Symbol Name: HRC FOB China SAE1006 Premium Symbol Name: HRC FOB China SAE1006-SS400 spread
Quality: SAE1006 Quality: SAE1006
Width: 1200-1500 mm Width: 1200-1300 mm
Thickness: 2mm Thickness: 2mm
Ports: Tianjin Ports: Tianjin, Jingtang, Caofeidian and Bayuquan

The changes were first proposed in a note on July 25, 2023: https://www.spglobal.com/commodityinsights/en/our-methodology/subscriber-notes/072523-platts-proposes-to-revise-china-hrc-assessment-specifications and followed up with an announcement on the planned changes on Aug. 14, 2023: https://www.spglobal.com/commodityinsights/en/our-methodology/subscriber-notes/081423-platts-to-change-china-hrc-assessment-specifications.

Full details about the methodology specifications of these assessments can be found here. https://www.spglobal.com/commodityinsights/en/our-methodology/methodology-specifications/metals/steel-ferrous-scrap-ferroalloys-and-noble-alloys-methodology

The assessments are published on fixed page PMA/STL1198 and PMA/STL1215 of the real-time Platts Steel Alert and Platts Metals Alert, in SBB Steel Markets Daily, in SBB Daily Briefing, in Steel Price Report daily, on Platts Dimensions Pro, in Platts Market Center and in the Platts price database.

Please send any comments and questions 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.