The initial assessment will be published on Wednesday May 22. Both the differential and the base price will be published weekly on Wednesday.
The specifications are as follows:
MB-STE-0916: Green steel domestic, differential to US HRC, fob mill, $/short ton
Quality: Steel produced with Scope 1, 2 and 3 emissions of maximum 0.7-metric tonne CO2 per metric tonne of steel
Quantity: minimum 10 tons
Location: fob US mill
Timing: open
Unit: USD per short ton
Publication: Weekly, Wednesday, by 5pm New York time
Notes: Carbon threshold may be reached via production process, mass balancing or equivalent, in line with common standards in the US, excluding carbon credits but inclusive of renewable energy credits.
MB-STE-0917: Green steel base price, hot-rolled coil, fob US mill, weekly inferred, $/short ton
Quality: Steel produced with Scope 1, 2 and 3 emissions of maximum 0.7-metric tonne CO2 per metric tonne of steel, ASTM A1011 Commercial Steel and corresponding grades. 0.09-0.38in thick x 48-72in wide.
Quantity: minimum 10 tons
Location: fob US mill
Timing: open
Unit: USD per short ton
Publication: Weekly, Wednesday, by 5pm New York time
Notes: This price is calculated by adding the weekly green steel differential to the average of the US Midwest HRC index (MB-STE-0184) and the US South HRC index (MB-STE-0903).
These prices will be part of Fastmarkets’ steel physicals package.
Fastmarkets will monitor evolving liquidity and standards in the green steel space and may adjust the carbon threshold or introduce new prices as demand dictates.
To provide feedback on the above prices or to become a data submitter, please contact Daniel Hilliard by email at pricing@fastmarkets.com. Please add the subject heading “FAO: Dan Hilliard, re: US green HRC.” Please indicate if comments are confidential. Fastmarkets will consider all comments received and will make comments not marked as confidential available upon request.
To see all Fastmarkets pricing methodology and specification documents, go to https://www.fastmarkets.com/methodology.
