CRU to Audit U.S. Midwest HRC Price Data Providers

CRU’s network of data providers—those who provide HRC prices to CRU—extends along the supply chain, including mills through steel service centers and end users. It also ranges across firm sizes including large, but also medium-sized and smaller enterprises.

“Building on the previous audit, which focused on reporting processes, this audit will scrutinize data provider adherence with published reporting specifications and the actual values reported,” said CRU Compliance Lead Claire Ballak.

“It will also support the ongoing methodology and definitions development process through the provision of independently-sourced additional information on wider aspects of HRC price reporting to CRU,” added CRU Head of Prices Development Chris Houlden.

CRU’s FOB U.S. Midwest mill HRC price, “The CRU,” is the leading steel price benchmark in North America and is used in the settlement of futures and options contracts on the CME. It is based exclusively on transaction data, to the exclusion of bid/offer or opinions of price information. It helps customers across the steel supply chain manage their commercial operations, mitigate price risk and monitor and analyse the market.

For more detail on CRU’s U.S. Midwest HRC price, please see: https://www.crugroup.com/the-cru/