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The US HRC index currently employs a three sub-index approach, categorizing and weighing inputs separately from producers, distributors and consumers.
The proposal is to change the index to a two sub-index approach with inputs separated simply as sellers and buyers.
Fastmarkets does not expect this change to materially affect the daily published price, based on internal analysis.
The 90-day consultation period for this proposed amendment starts from Thursday July 21 and will end on Wednesday October 19. The amendment will then take place, subject to market feedback, on Monday October 31.
To provide feedback on this index, or if you would like to provide price information by becoming a data submitter to this index, please contact Grace Asenov by email at: pricing@fastmarkets.com. Please add the subject heading FAO: Grace Asenov, re: US HRC index.To see all of Fastmarkets’ pricing methodology and specification documents, go to https://www.fastmarkets.com/about-us/methodology.