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PRICE NOTICE: Merchant bar, beam imports

Mar 06, 2018 | 09:49 AM | Nat Rudarakanchana


American Metal Market is proposing to change the trading term specification of its monthly US import beams and merchant bar prices, effective April 6.

The relevant specifications cover US import medium sections and US import merchant bar, which are assessed on the last Thursday and Friday, respectively.

The proposal is to change the trading term, or “incoterm”, from cfr to ddp: namely, from cost and freight to delivered duty paid. This is being done to reflect liquidity conditions in the market. There is better spot liquidity across ddp transactions versus larger cfr full-cargo purchases. For US import buyers across both markets, ddp is also a more useful term.

The consultation period for this proposed amendment will end one month from the date of this pricing notice, with changes taking place from April 9, subject to market feedback.

The following shows the current specifications of American Metal Market's merchant bar and beam import prices:

Merchant bar, import:
Currency and Unit: US dollars per short ton
Location: United States 
Basis: cfr Port of Houston
Frequency: Monthly, last Friday
Price Type: Assessment
Quality: Commercial-quality steel angle within standard tolerances 
ASTM A36 and equivalent 
Gauge: ¼-inch thick x 2 inches wide x 2 inches deep angle 
Typical lot size: 500 tons

Beams, import:
Currency and Unit: US dollars per short ton
Location: United States 
Basis: cfr Port of Houston
Price Type: Assessment
Frequency: Monthly, last Thursday
Quality: Commercial-quality steel beams within standard tolerances 
ASTM A36 and A572 or equivalent 
Gauge: Web size 6-24 inches by 5¼ feet
Typical lot size: 500 tons

To provide feedback on these changes or if you would like to provide price information by becoming a data submitter to these prices, please contact Nat Rudy by email at: pricing@metalbulletin.com. Please add the subject heading FAO: Nat Rudy re: import beams and merchant bar.

To see all of Metal Bulletin’s pricing methodology and specification documents go to https://www.metalbulletin.com/prices/pricing-methodology.html

To see American Metal Market’s steel specifications, go to: http://www.amm.com/pdf/Methodologies/AMM%20Steel%20Methodology.pdf