The ARGUS northwest Europe HRC price assessment
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 service.
Hot-rolled coil (HRC) is the bellwether 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.
Northwest EU HRC specifications
|Gauge||1.2-1.6 meters wide, 3-7mm thick|
|Timing||2-8 weeks shipment|
Advantages of the ARGUS northwest Europe HRC price assessment
The index is daily, ensuring it accurately tracks the underlying physical market. Daily transaction reporting and interaction with a wide array of stakeholders throughout the supply chain enables Argus to provide timely and topical information, and objectively reflect 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 150 price assessments from the global ferrous markets.