PRICING NOTICE: Metal Bulletin proposes US HRC index

Metal Bulletin Group is proposing to switch its weekly AMM hot rolled coil (HRC) assessment, basis fob US Midwest mill, to an index from July 13.

The specifications have been designed to reflect the most commonly traded spot volumes in the Midwest region and Metal Bulletin Group has identified sufficient market liquidity in the US HRC market to justify the implementation of an index-based methodology.

The index methodology will ensure increased robustness through rigorous mathematical analysis of gathered pricing data that has already been applied successfully in many other markets by the Metal Bulletin Group.

Following a consultation phase ending on July 10, the index will be published weekly on Thursdays, or on the next working day in the event that a Thursday falls on a public holiday. The specifications under consideration for the index are as follows:

Currency and unit: US dollar per hundredweight
Location: USA
Basis: fob Midwest mill
Price type: Index
Frequency: Weekly, Thursday
Minimum tonnage: 50 tons
Gauge: 0.09-0.38 inch thick x 48-72 inches wide
Quality: ASTM A1011 commercial sheet and corresponding grades
Packaging: Standard
Raw materials surcharges: Included

The Metal Bulletin Group’s index methodology screens outliers and applies a tonnage-weighted model to ensure that the HRC price will be the most robust in the industry.

The group has no financial interest in the level or direction of the index.

To request the methodology for the index and/or to send any feedback regarding the proposed change, please email Thorsten Schier at tschier@amm.com

What to read next
Any bolstering effect on US ferrous scrap exports from the up-month in February’s domestic trade will be tempered in the immediate aftermath of two earthquakes in Turkey — the country’s largest importing region — on Monday, February 6
Steel trading and production have come to a halt in the eastern Turkish region of Iskenderun following a devastating earthquake that hit the region on Monday February 6 and put mills in the area under force majeure, sources told Fastmarkets on Tuesday
Fastmarkets proposes to amend and realign its listed brands for alloy and standard grade cobalt to reflect new developments in the market and invites feedback on the following consultation.
Fastmarkets’ Shanghai-London arbitrage calculations for aluminium were published incorrectly on January 30-February 3 due to a formula error.
A 120-day closure of four Illinois dams scheduled for 2023 will disrupt barge shipments and have potentially both negative and positive impacts on scrap and finished steel products from Canada to Texas
BRUSSELS, Feb 2, 2023 (PPI Europe) - PRICING NOTICE: Consultation on proposal to discontinue Russian containerboard prices – final decision
We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
Proceed