PRICING NOTICE: Fastmarkets launches daily US Midwest HRC Index
Fastmarkets launched its daily US Midwest Hot-Rolled Coil Index on Monday November 12.
Fastmarkets believes that increasing the frequency of its hot-rolled coil index to daily from weekly is a useful and necessary addition to the company’s suite of steel and ferrous scrap prices in response to unprecedented steel market volatility. The price proposal notice was updated on October 10.
The specifications for the daily US Midwest Hot-Rolled Coil Index are below:
US Midwest Hot-Rolled Coil Index
Currency and unit: US dollars per hundredweight
Basis: Normalized fob Midwest mill
Price type: Index
Minimum tonnage: 50 tons
Gauge: 0.09-0.38 in thick x 48-72 in wide
Quality: ASTM A1011 Commercial Steel and corresponding grades
Raw material surcharges: Included
Publication date: Monday through Friday, excluding holidays
Publication time: By 5 pm Eastern Standard Time
Fastmarkets has no financial interest in the level or direction of the index.
To provide feedback on this index or if you would like to provide price information by becoming a data submitter, contact Fastmarkets steel correspondent Michael Cowden by email at firstname.lastname@example.org. Please add the subject heading FAO: Michael Cowden, re: US Midwest Hot-Rolled Coil Index.
To see all Fastmarkets’ pricing methodology and specification documents go to https://www.metalbulletin.com/prices/pricing-methodology.html.