Argus northwest EU HRC steel
Overview
The Argus northwest European HRC price assessment is the official settlement price for the CME North European Hot-Rolled Coil Futures contract.
The CME futures contract provides market participants with a way to price and manage their exposure, and it is settled against the monthly average of the daily price assessments published by Argus in the Argus Ferrous Markets and Argus Global Steel service.
Hot-rolled coil (HRC) is the leading product for the European and global steel industry, and the foundation for many end-use industries, as well as other downstream steel products. Market size and liquidity, along with its importance as a raw material for manufacturers, makes European HRC a critical industrial material requiring accurate, timely spot pricing and analysis to inform decision making.
The Argus northwest EU HRC index is published daily ensuring it captures all the movements in this often volatile market.
Argus’ northwest Europe HRC index can be accessed through the Argus Metals online platform, as well as the daily Argus Ferrous Markets publication and Argus Global Steel service.
Price assessment details
What are the advantages of the Argus northwest EU HRC steel price assessment?
The index is tracked daily to ensure it accurately reflects the underlying physical market. Transaction reporting and interaction with stakeholders throughout the supply chain allows Argus to deliver timely and topical information while reporting on the objective day-to-day movements. Market actors cite the quality of Argus’ European HRC information and commentary as setting us apart from competitors.
The Argus HRC index is based 75pc on a volume-weighted average of trades and 25pc on a survey of active market participants. In the absence of transactions, the assessment is based on the market survey, allowing it to be reflective of market prices during periods of low liquidity.
Argus’ methodology is proven, robust and created to suit the needs of the modern metals industry. With a large, dedicated global team of experts, we are committed to ensuring the highest quality in price assessments while delivering actionable market news and commentary. Argus Ferrous Markets provides accurate and unbiased pricing, including more than 1,700 price assessments from the global ferrous markets.
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