I would like to clarify certain
comments that I made on our first-quarter conference call April
25 which were then reported in AMM regarding the CRU
Steel Index (
amm.com, April 25).
I have spoken to management at
CRU Group to better understand the types and mix of
organizations that submit data to CRU, as well as procedures in
place to assure the integrity of the data used in the
calculation of their steel index. The procedures and processes
they described to me should help identify any anomalies, which
they would then exclude from the calculation of the index. I
was not aware of this data governance when I made the previous
Reliance Steel & Aluminum Co.