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Letter to the Editor: Reliance’s Hannah clarifies position on CRU coil index

Keywords: Tags  Reliance Steel & Aluminum, David Hannah, steel coil index, CRU


To the Editor:

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 comments.

DAVID H. HANNAH

Reliance Steel & Aluminum Co.


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