Open consultation on methodology for Northern Europe, US HRC indices

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

This consultation, which is open until April 29, 2024, seeks to ensure that our methodologies continue to reflect the physical markets 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.

You can find the current methodology for the Northern Europe HRC index here: https://www.fastmarkets.com/methodology/metals/european-hrc-indices

The methodology for the US HRC index can be found here: https://www.fastmarkets.com/methodology/metals/us-hrc-index

Please send responses in writing, preferably in electronic format, to the following address: pricing@fastmarkets.com. Please add the subject heading “Northern Europe/US HRC index annual review, 2024.” 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 1, 2024, 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 https://www.fastmarkets.com/methodology.

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