Correction to daily US hot-rolled coil index

Fastmarkets has corrected its daily steel hot-rolled coil index, fob mill US, which was published incorrectly on Wednesday March 25 due to an editorial error.

The index was corrected to $64.04 per hundredweight ($1,280.80 per short ton) on Friday May 27 after initially being published as $64.12 per cwt ($1,282.40 per ton).

Fastmarkets’ pricing archives and the daily US HRC market report have been updated to reflect these changes.

The specifications of the affected price are as follows:

MB-STE-0184 Steel hot-rolled coil index, fob mill US, $/cwt
Quality: ASTM A1011 Commercial Steel and corresponding grades. 0.09 inch-0.38 inch thick x 48-72 inches wide
Quantity: Min 50 tons
Location: fob US mill, excluding Pacific states (Washington, Oregon, California, Alaska and Hawaii) as defined by the US Census Bureau.
Unit: USD 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. A separate HRC index methodology is available.

For more information or to provide feedback on this correction notice, or if you would like to provide price information by becoming a data submitter to this price, please contact Grace Asenov by email at pricing@fastmarkets.com. Please add the subject heading: FAO: Grace Asenov Re: US HRC index.

To see all of Fastmarkets’ pricing methodology and specification documents, go to https://www.fastmarkets.com/about-us/methodology.

What to read next
Fastmarkets has had a strong interest in the proposed new assessments and would like to gather additional information on the specification and grades that should assess.  Based on the feedback, the proposed specifications have been updated as follows:  Quality: Selected Nordic (Swedish, Finnish, Norwegian) export grades of both planed and rough sawn timber spruce (whitewood) […]
While Fastmarkets understands that the PIX sawn timber FAS Finland indices have not been widely adopted by the industry, we have received feedback that there is commercial use for the indices. Therefore, we propose to maintain them for the time being.  The following indices are affected:  The extended consultation period for this proposed discontinuation starts […]
Charcoal-based pig iron can potentially support decarbonization strategies in the EU, despite not being widely used in the region, delegates were told at Fastmarkets' International Iron Ore & Green Steel Summit, held June 17-19 in Barcelona.
To increase the transparency of our methodology, Fastmarkets clarifies that the quotation period of the MHP nickel payable indicator is the month of delivery, or the month M. Any data points Fastmarkets received otherwise will be normalized to the M month based on the monthly spreads of the prevailing exchange-traded Class-1 nickel reference price, or […]
Following an initial consultation with the market and a review of the typical data sets that have been collected over recent months, Fastmarkets is proposing changes to the specifications of the index for MB-IRO-0009 iron ore 65% Fe Brazil-origin fines, cfr Qingdao, by raising the silica base specification to 2.7% from 2.2%, as well as an […]
The corrections are as follows: AG-BRY-0004 Barley Feed barley FOB Argentina $/mt Incorrect prices: August $119.00 per tonne Corrected to: August $219.00 per tonne Fastmarkets’ pricing database has been updated to reflect this change. These prices are part of the Fastmarkets Ags Grains package. For more information or to provide feedback on this correction notice or […]