SUBSCRIBER NOTE: Platts clarifies HRC steel CFR East Asia specifications

Following industry consultation, Platts has decided to continue publishing the hot rolled coil steel CFR East Asia assessment (SB01142), with a clarification to its underlying specifications taking immediate effect. The assessment will reflect specifications normalized to SS400 or equivalent coil of 3 mm thickness and 1,200-1,500 mm width. The location specified will be the port of Ho Chi Minh City, Vietnam, the main destination of cargoes traded in the spot market in Asia. Platts will consider for assessment deals, bids and offers for cargoes of other qualities and sizes, and delivered into other Northeast and Southeast Asian ports, normalized to the clarified specifications. Normalization for quality and size will be done based on current premiums and discounts applied by the market, and that for location will utilize freight netback and net forward calculations. Information about known tariff and non-tariff barriers in the various jurisdictions will also be used in the normalization process. The assessment is published in Platts Metals Alert, Platts SBB Daily Briefing, Platts Steel Price Report and the Platts Steel Price Analyzer. Please address any queries and comments to keith.tan@platts.com and pricegroup@platts.com.