Platts updates dimension specification of steel billet CFR Southeast Asia assessment

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

The change 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 and market feedback.

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.

With the update, Platts assessments reflect the specifications of the most commonly traded cargoes.

The specifications of the affected assessment are as follows:

Platts continues to consider market information relevant to other dimensions, and may normalize information received on billet of other specifications, like 130x130 mm, to a 150x150 mm basis specification.

All other specifications will remain unchanged.

Platts initially proposed to update the dimension specification March 9 in a subscriber note available at: https://www.spglobal.com/energy/en/pricing-benchmarks/our-methodology/subscriber-notes/030926-platts-proposes-to-update-dimension-specification-of-steel-billet-cfr-se-asia-assessment.

Following market feedback, Platts communicated its decision to update the dimension specification on April 6 in a subscriber note available at: https://www.spglobal.com/energy/en/pricing-benchmarks/our-methodology/subscriber-notes/040626-platts-to-update-dimension-specification-of-steel-billet-cfr-southeast-asia-assessment.

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/PMA0795 of the real-time Platts Steel Alert and Platts Metal Alert, in Steel Price Report, World Steel Review, and in the Platts price database.

Please send all comments, feedback, and questions 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.