Platts proposes to update China domestic Beijing rebar weight basis specification

Platts, part of S&P Global Commodity Insights, proposes to update the weight basis of its China domestic rebar Beijing price assessment to theoretical weight from actual weight, effective Jan. 2, 2024, in reflection of the basis on which most Chinese domestic transactions take place.

The proposal aims to better reflect current market conditions and facilitate parity comparisons between domestic Chinese rebar prices and Platts CFR Southeast Asia rebar price assessment.

The change would also align with the theoretical weight specification underlying the Shanghai Futures Exchange rebar futures contract.

Details regarding the proposed change can be found in the table below:

The proposed change would also be reflected in the calculation of Platts China Steel Mill Margins for Chinese domestic rebar (AMVSB00 and AMVSB03).

The assessments are published on fixed pages PMA/STL1215, PMA/STL1360, PMA/STL1315, PMA/STL1331, PMA/STL1330 of the real-time Platts Steel Alert and Platts Metals Alert, in World Steel Review and Steel Price Report, in SBB Steel Markets Daily, in SBB Daily Briefing, in Platts Connect, in Platts Market Center and in the Platts price database.

Detailed specifications of Platts rebar assessments can be found here: https://www.spglobal.com/commodityinsights/en/our-methodology/methodology-specifications/metals/steel-ferrous-scrap-ferroalloys-and-noble-alloys-methodology .

Platts invites feedback on this proposal to PL_Asia_Steel@spglobal.com and pricegroup@spglobal.com by Nov. 30, 2023.

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 to the public upon request.