Steel Products Prices North America
Variations in Pricing: Platts, CRU & SMU
Written by John Packard
January 21, 2014
One of our readers asked us on Monday morning, why the discrepancies between the CRU, Platts and SMU indices? During the discussion we were reminded that the discrepancies did not always exist. We pulled up a graph with the three hot rolled index price points from the three indexes and as you can see the variations began toward the end of 2012 and forward.
It is Steel Market Update’s opinion that the variations between indices (of more than a few dollars per ton) are related to collection techniques, the size of the sample, the tonnage requirements, FOB point and other factors. We attempted to point this out in a White Paper which we had posted on the Home Page of our website for a number of weeks when we first came online with the new site. If you would like a copy of our Methodologies White Paper please send a request to: info@SteelMarketUpdate.com
We also recommend that if you are interested in the variations in Platts vs. the other indices that you go to the Platts methodology section of their website.
John Packard
Read more from John PackardLatest in Steel Products Prices North America
SMU Price Ranges: HR crawls back to $800/ton
SMU’s HR price stands at $800/st on average, up $5/st from last week. The modest gain came as the low end of our range firmed, and despite the high end of our range declining slightly.
SMU successfully completes IOSCO review
SMU has successfully completed an external review of all our prices. The review has concluded that they algin with principles set by the International Organization of Securities Commissions (IOSCO).
Domestic plate prices could heat up despite so-so demand, market sources say
Some sources also speculated that plate could see further price increases thanks to modest but steady demand, lower imports, mill maintenance outages, and end markets less immediately affected by tariff-related disruptions.
SMU Price Ranges: HR holds, galv slips amid competing market narratives
SMU’s sheet and plate prices see-sawed this week as hot-rolled (HR) coil prices held their ground while prices for galvanized product slipped.
Nucor carries $875/ton HR list price into week seven
Nucor is keeping hot-rolled (HR) coil prices unchanged again this week, according to its latest consumer spot price (CSP) notice issued on Monday, Oct. 6