Platts proposes to update dimension specification of steel billet CFR SE Asia assessment

Platts, part of S&P Global Energy, proposes to update the dimension basis specification of its steel billet CFR Southeast Asia assessment to 150x150 mm square from 130x130 mm square currently, effective May 4, to reflect changes in trade flows and spot market liquidity.

The proposal is in response to a regional market transition toward increased use of 150x150 mm billet material, alongside Platts' observation of reduced spot trading activity for 130x130 mm billet material.

In reflection of changes to trading activity, the number of spot bids, offers, trades and indicative values Platts published on a 5SP 150 mm CFR Manila basis in 2025 increased 61% year over year to 356, while that for 5SP 130 mm CFR Manila billet fell 72% over the same period.

The proposal would allow Platts assessments to reflect the specifications of the most commonly traded cargoes.

The proposed change would affect the following assessment:

Under this proposal, Platts would continue to consider market information relevant to other dimensions, and may normalize information on billets of other specifications, such as 130x130 mm, to a 150x150 mm basis specification.

All other specifications will remain unchanged.

Full details of Platts Billet CFR Southeast Asia specifications can be found here: https://www.spglobal.com/content/dam/spglobal/ci/en/documents/platts/en/our-methodology/methodology-specifications/metals/steel-ferrous-specifications.pdf.

Platts Billet CFR Southeast Asia assessments are published on fixed pages STL/PMA 0795 of the real-time Platts Steel Alert and Platts Metal Alert, in Steel Price Report, World Steel Review and in the Platts price database.

Platts invites feedback, comments and questions on this proposal by March 20 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.