Subscriber notice: Launch of US HRC trade log

Fastmarkets plans to launch a trade log for its daily steel hot-rolled coil index, fob mill US on Monday September 28.

The trade log is intended to provide market participants with more transparency about the price inputs and associated volumes being captured by the daily index.

It will be published once a week, on Mondays, and will detail the tonnages collected - and at what price levels - over the course of the prior week. 

For example, a trade log might include information such as "Offer reported at $30/cwt" or "Medium purchase reported at $29/cwt."

To protect the identity of data submitters, Fastmarkets will not provide the exact tonnage of either transactional (deals) or non-transactional (offers, bids and assessments) data.

Fastmarkets instead proposes to specify volumes under one of the following four categories:
Small: 50-499 tons
Medium: 500-1,999 tons
Large: 2,000-9,999 tons
Extra-large: 10,000 or more tons

To provide feedback on this proposed trade log, 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' pricing methodology and specification documents, please click here.