SUBSCRIBER NOTE: Platts to change Shanghai rebar assessment specifications

Following industry consultation, S&P Global Platts has decided to update the methodology for its weekly steel Rebar Shanghai domestic ex-stock assessment (symbol: SB01259), due to changes in the way the market trades. These changes will take effect November 4, 2016.

Rebar is now transacted mainly on an ex-works basis, whereas previously it had been bought from producers by traders to stock in Shanghai warehouses for sale.

Platts will change the assessment methodology to ex-works Jiangsu, including the main cities of Zhangjiagang, Changzhou and Jiangyin, from ex-stock Shanghai.

The volume specification will be changed to 60-200 mt and payment will be terms of cash on delivery, as opposed to current methodology of 5-500 mt and cash before delivery. The assessment will continue to be published on a theoretical weight basis.

The name of the assessment will change to Rebar HRB400 18-25 MM China Dom Prod Ex-works Jiangsu Incl 17% VAT Wkly from Rebar HRB400 18-25 MM China Dom Prod Shanghai Incl 17% Vat Wkly.

Please send all feedback, queries and comments to keith.tan@spglobal.com and pricemethodology@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.