Open consultation on methodology for US CRC, HDG, plate

Fastmarkets is inviting feedback from the industry on the pricing methodologies for the following assessments: steel cold-rolled coil, fob mill US; steel hot-dipped galvanized coil (cold-rolled base), fob mill US; and steel cut-to-length plate carbon grade, fob mill US as part of its announced annual methodology review process.

This consultation, which is open until Friday May 10, 2024, 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.

You can find the current methodology for AMM Steel here: https://www.fastmarkets.com/methodology.

The following prices are included in this consultation:
MB-STE-0185 Steel cold-rolled coil, fob mill US, $/cwt
Quality: ASTM A1008 Commercial Steel and corresponding grades. 0.03 inch – 0.13 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: Weekly, Thursday
Notes: Raw materials surcharges included. Standard packaging

MB-STE-0186 Steel hot-dipped galvanized coil (cold-rolled base), fob mill US, $/cwt
Quality: ASTM A653 Commercial Steel and corresponding grades. 0.03 inch – 0.13 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: Weekly, Thursday
Notes: Raw materials surcharges included. Standard packaging

MB-STE-0172 Steel cut-to-length plate carbon grade, fob mill US, $/cwt
Quality: ASTM A36 Commercial Steel and corresponding grades. 0.375 inch – 2 inch thick x 48-72 inches wide x 96-288 inches long
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: Weekly, Tuesday
Notes: Raw materials surcharges included. Standard packaging

Please send responses in writing, preferably in electronic format, to the following address: pricing@fastmarkets.com. Please add the subject heading “Annual methodology review of Fastmarkets’ cold-rolled coil, galvanized coil and cut-to-length plate prices.” 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 Friday May 17, 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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For comments and queries, please email hello.foex@fastmarkets.com, indicating “PIX Pellet Nordic Index” in the subject line of the email.