Platts Steel Markets Daily (www.platts.com) is expanding its reporting of spot price assessments in global metals to include steel exported from China, specifically hot-rolled coil (HRC) and concrete reinforcing bar (rebar).
“We’re pleased we can answer the steel industry’s call for a reliable source of timely, transparent and independent steel price information from Asia as well as provide the financial industry with an additional price series to help anticipate economic activity and price trends,” Platts global director of steel Francis Browne said.
The new Asia price series expands Platts’ coverage of steel and scrap product prices from 21 to 23, and better equips industry and other metals market observers with a more complete data series for more comprehensive analysis of spot metals prices globally.
The assessments are generated from the free-on-board (FOB) value of key internationally traded steel products HRC and rebar, and recognize China’s important participation in the world’s markets for these products. HRC is widely used for construction, appliance and automotive purposes. Rebar is used in the construction of such things as buildings, roads and bridges.
Platts Steel Markets Daily is an online and print publication containing news, market commentary and price information aimed at the steel, construction, and auto industries as well as commodities-focused money managers worldwide. The publication is one of five Platts products directed at the broader metals industry. Platts has reported on the broader supply and demand fundamentals of the metals markets for 30 years, drawing on the tradition of its parent company, The McGraw-Hill Companies, which has covered the metals market for more than 75 years.
Platts’ price assessment methodology in steel was developed in consultation with a cross section of key industry players and draws upon Platts’ century of experience in benchmark price reporting in the energy markets.