Platts China Steel Rebar Export Price Assessment Goes Daily

SHANGHAI, Sept. 1, 2015 /PRNewswire/ -- Platts, a leading global energy, petrochemicals and metals information provider and a premier source of independent benchmark price references, Tuesday increased the frequency of one of its steel price assessments aimed at those procuring Chinese exported material. The Platts price assessment for steel reinforcement bar (rebar) free on board (FOB) in China is now published daily instead of weekly.

The physical spot market price of rebar on an FOB China basis was assessed Tuesday at $282.50 per metric ton (/mt), down $7.50/mt, or 2.6%, from the beginning of August, Platts data showed. This is the lowest level the price has reached since October 2006, when Platts started publishing the assessment.  

The Platts FOB China Rebar steel assessment follows the move in the Platts FOB China Hot Rolled Coil assessment to daily from weekly on June 1, 2015, and enhances Platts' suite of price references tracking rapidly growing Chinese steel exports.

Platts FOB China Rebar reflects the transactable value of physically-traded rebar, a long steel product that underpins the construction industry.

"Chinese rebar exports, by virtue of their sheer growth in volume, largely influence not just the trade price in Asia, but the world," said Keith Tan, Platts managing editor for steel and raw materials. "With steel being in excess capacity globally and price competition among producers and traders intensifying, the daily Platts assessment will be closely watched as a barometer of rebar spot prices."

Platts' assessment is normalized to BS 4449: 2005 B500B or equivalent specifications, with dimensions of 16-20 millimeters in diameter and 12 meters in length. It is published on an FOB China basis, normalized to the port of Tianjin.

The assessment complements Platts' existing rebar price references tracking the Chinese domestic markets in Beijing and Shanghai, as well as a cost and freight (CFR) East Asia basis. 

The Platts FOB China Rebar assessment is published in Platts Steel Markets Daily, Platts SBB Daily Briefing, Platts Steel Price Report and in real-time news, data and information services Platts Metals Alert and Platts Market Center.

For more information on Platts, visit www.platts.com.

CONTACT
Global, Americas: Kathleen Tanzy, + 1 917 331 4607, [email protected]

About Platts: Founded in 1909, Platts is a leading global provider of energy, petrochemicals, metals and agriculture information and a premier source of benchmark prices for the physical and futures markets.  Platts' news, pricing, analytics, commentary and conferences help customers make better-informed trading and business decisions and help the markets operate with greater transparency and efficiency.  Customers in more than 150 countries benefit from Platts' coverage of the biofuels, carbon emissions, coal, electricity, oil, natural gas, metals, nuclear power, petrochemical, shipping and sugar markets.  A division of McGraw Hill Financial (NYSE: MHFI), Platts is based in London with more than 1000 employees in more than 15 offices worldwide. Additional information is available at http://www.platts.com.

About McGraw Hill Financial: McGraw Hill Financial is a leading financial intelligence company providing the global capital and commodity markets with independent benchmarks, credit ratings, portfolio and enterprise risk solutions, and analytics. The Company's iconic brands include: Standard & Poor's Ratings Services, S&P Capital IQ, S&P Dow Jones Indices, Platts, CRISIL and J.D. Power. The Company has approximately 17,000 employees in 30 countries. Additional information is available at www.mhfi.com.

SOURCE Platts

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