Platts updates location specification, increases frequency of steel slab CFR Southeast Asia assessment

Platts, part of S&P Global Commodity Insights, has updated 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 has increased the assessment frequency from monthly to weekly on Thursdays and introduced a monthly average of the weekly assessments.

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 updated specifications are listed in the table below:

Platts continues to consider market information for delivery to Cigading and other Southeast Asian locations, and may apply normalizations, including for freight rates, to Surabaya.

The first monthly average will update at the start of November and will reflect the average of weekly assessments published in October.

Platts initially proposed the location specification and assessment frequency change on Aug. 14 in a subscriber note available at: https://www.spglobal.com/commodity-insights/en/pricing-benchmarks/our-methodology/subscriber-notes/081425-platts-proposes-to-update-location-specification-increase-frequency-of-steel-slab-cfr-southeast-asia-assessment

Following market feedback, Platts confirmed the proposed changes on Aug. 29 in a subscriber note available at: https://www.spglobal.com/commodity-insights/en/pricing-benchmarks/our-methodology/subscriber-notes/082925-platts-to-update-location-specification-increase-frequency-of-steel-slab-cfr-southeast-asia-assessment

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.

Please send all feedback, comments, and questions to pl_asia_steel@spglobal.com and pricegroup@spglobal.com.

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