SUBSCRIBER NOTE: Platts changes Shanghai rebar assessment specifications

Following industry consultation, S&P Global Platts has updated 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 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 has changed the assessment methodology to ex-works Jiangsu, including the main cities of Zhangjiagang, Changzhou and Jiangyin, from ex-stock Shanghai.

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

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

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

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