Platts proposes changing frequency, shipment dates for CFR Taiwan ferrous scrap

S&P Global Platts is inviting industry feedback on a proposal to increase the frequency of the heavy melting scrap 1/2 (80:20) Containerized CFR Taiwan price assessment (TS01037) to daily, effective December 2.

The assessment is currently published weekly on Fridays.

The proposal responds to a growing market need for reliable price assessments for the raw material in Asia, in light of the region's increasing importance in global scrap and billet trade flows.

At the same time, Platts is consulting with the industry on its proposal to change the assessment's timing specification to a shipment date 30-60 days forward from the date of publication, in line with mainstream market practice. The existing specification is for a loading date 0-30 days forward.

Under the existing methodology, Platts will consider deals, bids and offers for cargoes of other shipment timings and specifications, and normalize them to the standard specifications using differentials based on prevailing market conditions.

Description: HMS 1/2 (80:20) Containerized CFR Taiwan

Daily Code: TS01037

Monthly Average: TSMBK03

The affected price is published in the Steel Markets Daily publication, on the real-time Platts Metals Alert fixed page 1326, on the Platts Market Center and in the Platts database. The assessment is accompanied by a weekly commentary published Wednesdays on PMA fixed page 3951.

Please send all feedback, queries and comments by November 13, 2019 to pl_asia_steel@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.