Following industry consultation, S&P Global Platts will increase the frequency of the heavy melting scrap 1/2 (80:20) Containerized CFR Taiwan price assessment (TS01037) to daily, effective December 2.
The assessment is currently published weekly on Fridays.
The proposal responds to a growing market need for reliable price assessments for the raw material in Asia, in light of the region's increasing importance in global scrap and billet trade flows.
At the same time, Platts will change the assessment's timing specification to a shipment date 30-60 days forward from the date of publication, in line with mainstream market practice.
The existing specification is for a loading date 0-30 days forward.
Under the existing methodology, Platts will consider deals, bids and offers for cargoes of other shipment timings and specifications, and normalize them to the standard specifications using differentials based on prevailing market conditions.
Description: HMS 1/2 (80:20) Containerized CFR Taiwan
Daily Code: TS01037
Monthly Average: TSMBK03
The affected price is published in the Steel Markets Daily publication, on the real-time Platts Metals Alert fixed page 1326, in Platts Market Center and in the Platts database. The assessment is accompanied by a weekly commentary published Fridays on PMA fixed page 3951.
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