SUBSCRIBER NOTE: Platts clarifies European steel, ferrous scrap specifications

As part of its annual review of the Steel, ferrous scrap, noble and ferroalloys specifications guide on www.spglobal.com, S&P Global Platts wishes to clarify certain specification details for its European steel and ferrous scrap assessments and indices, as follows:

TIMING: All assessments and indices published on ex-works or CPT basis reflect shipments within the time ranges stated in the specifications guide.

The timing for all assessments published on CIF, CFR, delivered and DDP basis refers to the time of deliveries to final destination, whereas timing for all FOB assessments reflects the loading laycan.

FLAT STEEL:

• The HRC DDP West Midlands, UK, assessment (STHWM04) reflects hot-rolled coils compliant with the European Norm EN10025-2.2004 Grade S275JR.
• The Plate CIF Southern Europe assessment (SB01185) reflects deliveries in a range between 500 mt and 5000 mt.
• The monthly Plate EXW Turkey assessment (SB01186) reflects shipments of minimum 100 mt with prompt payment on delivery.
• The monthly Plate FOB CIS Export assessment (SB01179) reflects loading of minimum 500 mt with payment at sight.
• The weekly HR Sheet CPT Moscow assessments (AAXJH00, AAXJK00) reflect Russian grade St3sp/St3ps shipped in minimum 100 mt lots within 21-35 days from the date of publication, payment on delivery.

STEEL BILLET, METALLICS, SLAB:

• The monthly billet assessments on FOB Turkey Export (SB01039) and CFR Turkey Import (SB01040) bases reflect product 11.7 m long with a 125x125mm square cross section, complying with GOST 380-94.
• The weekly slab FOB Black Sea assessment (SB01233) reflects slabs 1000-1850mm wide, 200-250mm thick and 6-12m long.
• The weekly Pig Iron FOB Black Sea Export assessment (SB01171) reflects pig iron complying with GOST 805-95 standard, or PL-1 & PL-2 grades, normalized to FOB Mariupol basis.

FERROUS SCRAP:

• The daily A3 CFR Turkey assessment (FEBSD00) reflects ferrous scrap complying with GOST A3 2787-75 or equivalent.
• The weekly Shredded Scrap FOB Rotterdam calculation (SB01228) reflects business for minimum 10,000mt.

MERCHANT BAR, SECTIONS, PIPE:

• The weekly medium sections assessments on DDP Europe (SB01160) and FOB Turkey (SB01162) bases reflect product 12 m long with a cross section of 80x120mm, payment on delivery.
• The monthly Merchant Bar Europe DDP assessment (SB01166) reflects bars 6m long with a cross section of 50x5mm, payment on delivery.
• The monthly Welded Pipe FOB Turkey assessment (SB01255) reflects loading of minimum 500mt.

REBAR:

• FOB Turkey and FOB Black sea rebar assessments reflect payment at sight, with all other European rebar assessments reflecting prompt payment on delivery.
• The weekly Rebar CPT Moscow assessment (AAXJG00) reflects rebar 11-12m long with a 12-16mm diameter. The assessment is made in Roubles/mt and is converted into $/mt (AAXJJ00).
• The monthly Rebar FOB Black Sea assessment (SB01193) reflects rebar with a 12mm diameter.
• The daily Rebar FOB Turkey assessment (STCBM00) and all its conversions reflects B500B carbon content rebar

WIRE ROD:

• The monthly Wire Rod Price Change North Europe index (TS01032) reflects cold heading boron-alloyed steel wire rod on a delivered basis in Eur/mt.
• The monthly Wire Rod mesh quality FOB Black Sea (SB01243) and FOB Turkish Ports (SB01251) assessments reflect payment terms at sight.

Please submit any feedback, comments or questions about this notice to: emeametalsteam@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.