Platts launches new weekly CIF Italy steel slab import assessment

Platts, part of S&P Global Commodity Insights, has launched a new weekly CIF Italy steel slab assessment, effective Sept. 2, 2022.

The new assessment reflects changing trade flows into Italy following Russia's invasion of Ukraine.

Platts has observed Italian flat steel re-rollers diversifying slab imports amid disruption of supply from Ukraine and cuts from Russian steelmakers due to EU sanctions, sourcing from alternative markets including India, China and Indonesia.

The assessment was first proposed July 14 in a subscriber note available here: https://www.spglobal.com/commodityinsights/en/our-methodology/subscriber-notes/071422-platts-proposes-to-launch-weekly-cif-italy-steel-slab-import-assessment

The decision to launch the proposed assessment was published July 29 in a subscriber note available here: https://www.spglobal.com/commodityinsights/en/our-methodology/subscriber-notes/072922-platts-to-launch-weekly-cif-italy-steel-slab-import-assessment

The assessment is published on Fridays, in line with the publication day for Platts weekly European domestic plate assessments, and follows Platts Market On Close methodology principles, which are described here: https://www.spglobal.com/commodityinsights/plattscontent/_assets/_files/en/our-methodology/methodology-specifications/platts-assessments-methodology-guide.pdf

The assessment specifications are as follows:

Symbol:
AITAA04
Description:
Slab CIF Italy Import
Frequency:
weekly (Friday)
Quality:
S235JR
Quantity:
minimum 10,000mt
Dimensions:
W 1,000-2,000 mm, T 200-300 mm, L 6-12 m
Incoterms:
CIF
Location:
Italy
Timing:
Delivery 8-10 weeks
Payment:
at sight
UOM:
$/mt

A euro conversion is published alongside the weekly and associated monthly averages:

Slab CIF Italy Import Eur/mt Wkly
AITAB04
Slab CIF Italy Import $/mt MAvg
AITAA03
Slab CIF Italy Import Eur/mt MAvg
AITAB03

Normalization for quality, dimensions and cargo size reflects current differentials applied in the market, and locational normalization may make use of freight netbacks and freight forwards.

Information on adjacent markets may also be considered in the assessment process.

The assessment is published in Steel Business Briefing, Steel Price Report, on page PMA1263 of Platts Metals Alert, on Platts Dimensions Pro and in the Platts price database.

Please address any questions or comments to ferrous_emea@spglobal.com and pricegroup@platts.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