LONDON, Jan. 25, 2024 /PRNewswire/ -- Fastmarkets, one of the industry's leading cross-commodity price-reporting agencies (PRA), announces the launch of a new European reduced carbon emissions flat steel price.
This new price, which is for domestically produced steel, forms part of Fastmarkets' growing suite of prices that cater to steel decarbonization and is a testament to our commitment to providing accurate and timely market information.
The reduced carbon emissions flat steel price is a differential paid for flat steel produced in European blast furnaces with carbon emissions of 1.4-1.95 tonnes of CO2 per tonne of steel.
According to Andrew Wells, global steel editor and steel pricing director: "A liquid market is emerging where buyers are currently paying around 30-60 euros/tonne for spot cargoes. This new price will provide transparency and help buyers make informed decisions in this fast-emerging market."
"I am excited about the launch of our new reduced carbon flat steel price. This is not just a new product but a significant step forward in our commitment to sustainability and innovation," said Raju Daswani, CEO of Fastmarkets. "In the emerging decarbonized steel market, accurate pricing is crucial. Our new reduced carbon flat steel price will provide much-needed transparency, fostering fairer trade and encouraging further innovations in the sector. As we move towards a greener future, we believe this initiative will play a pivotal role in driving the industry's transition to low-carbon production methods."
