Posted on 15 Oct 2024
The prices reflect the rising demand from market participants for green steel price differentials given the global decarbonization drive to make steel production sustainable and emerging carbon border measures
Fastmarkets’ Flat steel reduced carbon emissions differential, exw China, will be assessed every two weeks against the Fastmarkets’ established Eastern China domestic hot rolled coil (HRC) price assessment.
And an inferred China domestic reduced carbon emissions flat steel prices will be calculated based on the daily Fastmarkets HRC price assessment and the reduced carbon emissions flat steel differential to provide real-time transparency.
The price specifications are as follows:
MB-STE-0922 Flat steel reduced carbon emissions differential, exw China, yuan/tonne
Quality: Steel produced with Scope 1, 2 and 3 emissions of 1.10-1.40 tonnes CO2 per tonne of steel
Quantity: Minimum 10 tonnes
Location: Ex-works China
Timing: Open
Unit: Yuan/tonne
Publication: Every two weeks, Friday, 5-6pm Shanghai time
MB-STE-0923 Flat steel reduced carbon emissions, daily inferred, exw China, yuan/tonne
Quality: Steel produced with Scope 1, 2 and 3 emissions of 1.10-1.40 tonnes CO2 per tonne of steel
Quantity: Minimum 10 tonnes
Location: Ex-works China
Timing: Open
Unit: Yuan/tonne
Publication: Daily, 5-6pm Shanghai time
Notes: This price is calculated by adding the fortnightly reduced carbon emissions flat steel differential (MB-STE-0922) to the daily Eastern China HRC price assessment (MB-STE-0154).
The reduced carbon emissions flat steel prices will capture the differential between traditional flat-rolled steel prices and prices for steel produced with lower carbon emissions (including Scope 1, 2 & 3) of 1.10-1.40 tonne CO2 per tonne of steel.
All production methods and raw materials will be considered, including scrap-based production and steel made using hydrogen-reduced iron.
These prices are part of the Fastmarkets steel price package.
To provide feedback on these prices or if you would like to provide price information by becoming a data submitter to these prices, please contact Zihuan Pan by email at: pricing@fastmarkets.com. Please add the subject heading “FAO: Zihuan Pan re: China Reduced Carbon Emissions Flat Steel Prices.” Please indicate if comments are confidential.
Fastmarkets will consider all comments received and will make comments not marked as confidential available upon request.
To see all Fastmarkets pricing methodology and specification documents, go to https://www.fastmarkets.com/methodology.
Source:Fastmarkets
