![]() The single value would be rounded to the nearest $0.25/st. Platts proposes a single value be published, which would reflect the volume-weighted average of data collected throughout the day subject to S&P Global Platts editorial guidelines. Platts proposes that data collected from the market would be published as "market heards" and, as part of an assessment rationale - to make all data used open to market scrutiny.Īs a result, S&P Global Platts would no longer receive submissions pursuant to the existing TSI Data Provider agreements for companies submitting to TSI's US HRC, CRC, and HDG indices. The indices would be published by 4:30 pm US Eastern time. The data would be collected by surveying active market participants, while any market participant would also be able to submit data to the TSI price reporting portal. Platts proposes to collect transactional data (including deals, firm bids, offers and indicative values) until 3:30 pm US Eastern time. Given the difficulties in valuing diverse inland geographic steel mill locations and the incoterm reflected, a volume-weighted average approach has proven particularly robust at pricing this market. The combined price indices would use a volume-weighted average calculation - as per TSI's current standard - to determine value on an EXW Indiana basis. Platts seeks market feedback on this proposal by June 26, 2017. This would include a revision of the price calculation process to best reflect fair value in the market as well as a revision to underlying specifications. ![]() ![]() S&P Global Platts proposes to combine the price assessment process for three US-based steel mill products: hot-rolled coil (HRC), cold-rolled coil (CRC) and hot-dip galvanized (HDG) by merging the following price series effective October 2, 2017:ġ) S&P Global Platts daily assessment of HRC EXW Indiana (STHRI00) with The Steel Index's daily HRC USA (FOB Midwest mill TS01018)Ģ) S&P Global Platts daily assessment of USA CRC (EXW Indiana STRR100) with TSI's weekly USA CRC (FOB Midwest mill TS01005) Indexģ) S&P Global Platts monthly assessment of USA HDG (EXW Midwest mill SBO112) with TSI's weekly USA HDG (FOB Midwest mill TS01010) Index
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