Platts plans daily steel billet price assessment

Platts invites feedback by November 2, 2010 on a proposal to launch a daily steel billet assessment.

Platts is proposing to launch December 1, 2010, a daily seaborne spot price assessment for steel billet loaded for export in the Black Sea region.

Platts proposes to publish the daily price assessment in US dollars per metric ton.

Specifications are to be normalized to a base standard of 125x125 mm square, lengths 11,700 mm, grade GOST 380-94, 5sp/ps, typical cargo size of 5,000-20,000 mt delivered seaborne to all destinations, FOB Black Sea, 2-6 weeks from date of publication, payment at sight. All other grades, cargo sizes and payment terms will be normalized to this standard.

Platts intends to publish the assessment in Platts Metals Alert, Steel Markets Daily and Platts Dispatch category FA.

Please address any comments or questions by November 2, 2010 to: Francis Browne at francis_browne@platts.com or +44 20 7176 6239 with a copy to pricegroup@platts.com.