Platts extends feedback period for proposal to update Billet FOB Black Sea, CFR Turkey import methodology & specifications

Platts, part of S&P Global Energy is extending the feedback period to Oct. 30 for its proposal to update the dimensions of its Billet FOB Black Sea and CFR Turkey import assessment specification, as well as the delivery window, quality and volume specifications of its steel billet Turkey import CFR assessment, effective Dec. 14, to reflect changes in trade flows and spot market liquidity.

This was originally proposed in a note published Sept. 3, but Platts has not received sufficient feedback by the Sept. 18 deadline and is extending through Oct. 30 to get additional feedback from market participants.

Platts proposes updating the dimension to 150x150 millimeter square from 125x125 mm square in response to a regional market transition toward increased use of 150x150 mm billet material, alongside Platts' observation of reduced spot trading activity for 125x125 mm billet material.

To account for increasing flow of Asian material, Platts also proposes changing the current Turkey billet import CFR assessment timeline to delivery in four to 16 weeks, from the current delivery of two to 8 weeks forward.

In addition, Platts proposes amending the current Turkey billet import CFR assessment quality from 3SP to 4SP/GOST 38094 and the assessment volume to minimum 5,000 metric tons from 5,000-20,000 mt.

No updates are proposed by Platts with regard to other specifications including the, quality or loading period of its Billet FOB Black sea assessment.

The proposed changes would affect the following assessment:

Assessment	Symbol	Current dimension specification	Proposed dimension specification	Current quantity	Proposed quantity	Current timeline	Proposed timeline	Current grade	Proposed grade
Billet FOB Black Sea	STBLB00	125x125 mm square, L 12 m	150x150 mm square, L 12 m	5,000- 20,000 mt	5,000- 20,000 mt	Loading 2-6 weeks	Loading 2-6 weeks
Billet CFR Turkey Import	SB01040	125x125 mm square, L 12 m	150x150 mm square, L 12 m	5,000- 20,000 mt	Minimum 5,000 mt	Delivery 2-8 weeks	Delivery 4-16 weeks	3SP grade	4SP/GOST380-94

Platts invites feedback, comments and questions on this proposal by October 30 to EMEAMetalsTeam@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.