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Price notice: HRC index specs [update]

Jul 07, 2020 | 01:34 PM | Chicago | Michael Cowden

Tags  price notice, price consultation, hot-rolled coil, HRC index, US HRC, Midwest, South, Northeast West


Fastmarkets is expanding the footprint of its steel hot-rolled coil index, fob mill US to include all US states excluding those in the Pacific region.

The change follows a 30-day consultation period and will take effect on Monday May 18.

The broader footprint will provide more relevant pricing information for a market that has seen and will continue to see significant growth outside of traditional manufacturing hubs in the Midwest, most notably in the South and along the Gulf Coast. A broader footprint also will allow for a greater representation of electric-arc furnace steelmakers, which account for most US steel production and growth, including flat-rolled products like HRC.

The amended price specifications are as follows, with changes highlighted in bold:

  • MB-STE-0184 – Steel hot-rolled coil index, fob mill US
  • Quality: 0.09-0.38-in thick x 48-72-in wide ASTM A1011 Commercial Steel and corresponding grades
  • Quantity: Minimum 50 tons
  • Location: fob US mill, excluding Pacific states (Washington, Oregon, California, Alaska and Hawaii) as defined by the US Census Bureau
  • Unit: US dollars per hundredweight
  • Publication: Daily by 5pm New York time
  • Notes: Standard packaging, raw materials surcharges included. Payment terms are typical commercial practice in the HRC market. Transactions that are conducted on different payment or credit terms will be adjusted back to the base specifications, taking into account discounts and standard commercial terms.
To provide feedback on this price, or if you would like to provide price information by becoming a data submitter to this price, please contact Michael Cowden at pricing@fastmarkets.com. Please add the subject heading: FAO: Michael Cowden re: US HRC.

To see all of Fastmarkets AMM’s pricing methodology and specification documents, please click here.


 

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