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Price notice: Import rebar amendment update

Sep 04, 2019 | 11:53 AM | New York | Patrick Fitzgerald

Tags  steel, long products, rebar, imports, prices, methodology


Fastmarkets AMM proposes to amend the specifications of its imported rebar assessment from a cfr Port of Houston price to a delivered duty paid (ddp) Port of Houston price.

Fastmarkets also proposes to assess product sizes #3 to #8, rather than reinforcing bars with a gauge of 0.028-0.13 inches thick x 48-72 inches wide.

Fastmarkets’ specification for imported rebar is as follows:

Quality: Commercial-quality reinforcing bars within standard tolerances. ASTM A615 and equivalent.
Gauge: 0.028-0.13 inches thick x 48-72 inches wide
Location: cfr Port of Houston
Unit: USD per short ton
Quantity: 500 tons
Publication: Twice a month, first and third Wednesday

The proposed amended price specifications are as follows, with changes highlighted in bold:

Quality: Commercial-quality reinforcing bars within standard tolerances. ASTM A615 and equivalent.
Size: #3 - #8
Location: Delivered duty paid (ddp) Port of Houston

Unit: USD per short ton
Quantity: 500 tons
Publication: Twice a month, first and third Wednesday

The proposed change reflects the needs of the physical marketplace. In recent months, Fastmarkets has received an extensive number of price inputs on a ddp – or loaded truck – basis, due to uncertainties around tariffs and quotas.

A ddp price would allow ease of use among rebar buyers, because a significant amount of imported rebar is priced on a loaded-truck basis. The assessment would account for all import duties, including the Section 232 tariffs and anti-dumping and countervailing margins.

The consultation period for this proposal will end on October 20; an update to this notice will be published on that day.

Fastmarkets has no financial interest in the level or direction of these assessments.

To provide feedback on this price, or if you would like to provide price information by becoming a data submitter to this price, please contact Patrick Fitzgerald by email at: pricing@fastmarkets.com. Please add the subject heading FAO: Patrick Fitzgerald, re: imported rebar.

To see all of Fastmarkets' pricing methodology and specification documents, click here.


 

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