Become a customer

Launch of US green steel prices

Fastmarkets is launching a US green steel differential to hot-rolled coil and an accompanying US green steel base price. The launch is targeting growing interest from the auto sector and elsewhere in a low-carbon-emission HRC option. It complements differentials and base prices in Europe and Asia.

May 22, 2024
By Daniel Hilliard
Pricing notice

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.

What to read next
Correction to shredded auto scrap weekly composite
Fastmarkets has corrected its MB-STE-0523 Steel scrap shredded auto scrap, consumer buying price, delivered mill, $/gross ton, weekly composite, which was published incorrectly since June 14.
July 26, 2024
 · 
By Fastmarkets Staff
Correction to rationale of cobalt hydroxide 30% Co min, cif China
Fastmarkets has corrected the rationale for its MB-CO-0020 cobalt hydroxide 30% Co min, cif China, $/lb price, which was published incorrectly on Friday July 26.
July 26, 2024
 · 
By Sahil Shaw
Delayed publication of manganese ore seaborne prices
The publication of Fastmarkets’ manganese ore seaborne indices for Friday July 26 was delayed due to an error. Fastmarkets’ pricing database has been updated.
July 26, 2024
 · 
By Holly Chant
Proposal to amend frequency of China steel scrap import price indices
Fastmarkets proposes to amend the pricing frequency of its MB-STE-0889 steel scrap, index, heavy recycled steel materials, cfr east China, and MB-STE-0895 steel scrap, index, heavy recycled steel materials, cfr north China to once a month from the current weekly basis.
July 25, 2024
 · 
By Tianran Zhao
Decision to launch US black mass payable indicators, amendment to specifications
Fastmarkets will launch its new suite of US black mass payable indicators on Wednesday August 7, following a one-month consultation period.
July 24, 2024
 · 
By Kirstyn Petras
Correction to rationale of cobalt hydroxide 30% Co min, cif China on Tuesday July 23
The opening line of the rationale incorrectly listed the price range as $6.60-6.80 per lb. This has been corrected to $6.40-6.60 per lb. The published price is unaffected by this change. This price is part of the Fastmarkets minor metals package. For more information or to provide feedback on this correction notice or if you […]
July 24, 2024
 · 
By Callum Perry