Open consultation on annual methodology review for Northern Europe, US HRC indices

Fastmarkets is inviting feedback from the industry on the pricing methodologies for its MB-STE-0028 steel hot-rolled coil index domestic, exw Northern Europe and its MB-STE-0184 steel hot-rolled coil index, fob mill US Midwest as part of its annual methodology review process.

March 25, 2026

This consultation, which is open until April 27, seeks to ensure that our methodologies continue to reflect the physical market under indexation, in compliance with the International Organization of Securities Commissions (IOSCO) principles for Price Reporting Agencies (PRAs). This includes all elements of our pricing process, our price specifications and publication frequency.

The prices under review are:

MB-STE-0028 Steel hot-rolled coil index domestic, exw Northern Europe, €/tonne
MB-STE-0184 Steel hot-rolled coil index, fob mill US Midwest, $/cwt

Please send responses by April 27 to pricing@fastmarkets.com and steel@fastmarkets.com. Please add the subject heading “Northern Europe/US HRC index annual review, 2026.”

Please specify whether your response is confidential. Opinions offered in confidential responses may be referenced but will not be attributed in any way.

Fastmarkets will publish the outcome of this methodology review by May 4, including a summary of the feedback — with the exception of those responses marked as confidential. Any proposals to make material changes, discontinue or launch prices will involve a separate market consultation, the length of which will depend on how substantial the change is.

To see all Fastmarkets pricing methodology and specification documents, go to the Fastmarkets methodology page.