Now available digitally on Platts Connect

Get access to this content

plattsconnect.spglobal.com | [email protected]

Steel Price Report

Volume 11 / Issue 36 / February 22, 2024

Daily steel benchmarks Contents

Platts symbol Unit Range Close/Midpoint % change
Semi-finished Flat products.......................................................... 3
Billet Ex-stock Tangshan VAT-inclusive SB01032 Yuan/mt – 3620.00 -0.55 Lead times (weeks)*. .................................................. 3
Billet FOB Black Sea STBLB00 $/mt – 515.00 -1.90 Long products. ........................................................ 4
Hot-rolled coil Stainless. .............................................................. 5
HRC FOB China SAE1006 STHSA00 $/mt – 585.00 -0.17 Pipe and tube. ......................................................... 6
HRC FOB China SS400 STHRZ02 $/mt – 547.00 -0.18 Semi-finished. ......................................................... 6
HRC FOB China SAE1006-SS400 spread STHRY00 $/mt – 38.00 0.00 Platts TSI steel assessments currency and unit comparisons,
HRC CFR Southeast Asia SAE1006 TS01041 $/mt – 593.00 0.00 February 22. ........................................................... 6
HRC DDP Houston STHRG00 $/st – 760.00 -5.00 Platts Turkey ARC tracker. ............................................. 7
HRC CIF Antwerp STHRA00 €/mt 645.00–655.00 650.00 0.00 Steel mill economics: global spreads, February 22, 2024. .............. 8
Platts TSI HRC EXW Indiana TS01018 $/st – 900.00 0.00 Subscriber Notes. ..................................................... 8
Platts North European HRC, EXW Ruhr STHRE00 €/mt – 715.00 -1.38 Exchange steel futures................................................. 9
HRC CPT Moscow (weekly) AAXJI00 Rb/mt 55500.00–56500.00 56000.00 +1.82 Steel industry data..................................................... 9
Cold-rolled coil
CRC DDP Houston STRRG00 $/st – 940.00 0.00
CRC CIF Antwerp STRRA00 €/mt 735.00–745.00 740.00 0.00
Platts North European CRC, EXW Ruhr STRRE00 €/mt – 810.00 0.00
Platts TSI CRC EXW Indiana STRRI00 $/st – 1210.00 -3.97
Plate
Platts TSI Plate Delivered US Midwest STPRI00 $/st – 1320.00 0.00
Plate DDP Houston STPRG00 $/st – 1100.00 0.00
Rebar
Rebar FOB Turkey STCBM00 $/mt 604.00–606.00 605.00 -0.41
Rebar FOB China STCBZ02 $/mt – 561.00 -0.88
Rebar DDP Houston (weekly) STCBG00 $/st – 800.00 0.00
Rebar EXW US Southeast (weekly) STCBC00 $/st 845.00–865.00 855.00 -1.72
Platts Rebar EXW Northwest Europe STCBE00 €/mt – 640.00 +1.19
Rebar Ex-stock Beijing VAT-inclusive SB01198 Yuan/mt – 3760.00 0.00
For Platts assessment methodology, please go to: http://platts.com/IM.Platts.Content/MethodologyReferences/MethodologySpecs/steel.pdf
For TSI methodology, please go to https://www.thesteelindex.com/en/procedures-methodology/ Assessment rationale

Platts EMEA Turkish Rebar Daily Rationale

Platts assessed Turkish exported rebar at $605/mt
FOB Feb. 22, down $2.50 on the day, based on market
indications from traders, buyers and mill sources.
Tradable values were reported ranging around
(continued on page 8)

www.spglobal.com/commodityinsights www.twitter.com/SPGCIMetals
Steel Price Report February 22, 2024

Flat products
Frequency Platts symbol Unit Range Close/Midpoint % change
Hot-rolled coil export assessments
HRC FOB China SAE1006 Daily STHSA00 $/mt – 585.00 -0.17
HRC FOB China SS400 Daily STHRZ02 $/mt – 547.00 -0.18
HRC FOB China SAE1006-SS400 spread Daily STHRY00 $/mt – 38.00 0.00
HRC FOB Black Sea Weekly STHRB00 $/mt 560.00–570.00 565.00 -2.59
HRC Russia Black Sea exports FOB Monthly SB01151 $/mt 580.00–590.00 585.00 0.00
HRC Turkey exports FOB Weekly SB01155 $/mt 675.00–685.00 680.00 0.00
Hot-rolled coil import assessments
HRC DDP Houston Daily STHRG00 $/st – 760.00 -5.00
HRC CIF Antwerp Daily STHRA00 €/mt 645.00–655.00 650.00 0.00
HRC CFR Southeast Asia SS400 Daily SB01142 $/mt – 550.00 -0.36
HRC CFR Southeast Asia SAE1006 Daily TS01041 $/mt – 593.00 0.00
HRC Europe imports CIF Southern Europe port Daily SB01143 €/mt 619.00–629.00 624.00 0.00
HRC Turkey imports CFR Turkish port Monthly SB01156 $/mt 630.00–640.00 635.00 +1.60
HRC DDP West Midlands UK Weekly STHWM04 £/mt 665.00–675.00 670.00 0.00
Hot-rolled coil domestic assessments
Platts TSI HRC EXW Indiana Daily TS01018 $/st – 900.00 0.00
Platts North European HRC, EXW Ruhr Daily STHRE00 €/mt – 715.00 -1.38
Platts North European HRC, EXW Ruhr MTD Avg Daily STHRF00 €/mt – 737.81 -0.21
Platts South European HRC, EXW Italy Daily SB01152 €/mt – 710.00 -1.39
Platts South European HRC, EXW Italy MTD Avg Daily SB01264 €/mt – 735.00 -0.23
Platts North European HRC Carbon-accounted, EXW Ruhr Daily EHRSC00 €/mt – 840.00 -1.18
Platts European HRC Carbon-accounted steel premium (CASP) Daily EHRSA00 €/mt – 125.00 0.00
HRC Ex-stock Shanghai VAT-inclusive Daily SB01260 Yuan/mt – 3920.00 -1.26
Platts HRC Turkey domestic EXW Weekly SB01154 $/mt – 690.00 -1.43
HRC Mexico domestic production delivered Weekly SB01145 $/mt 945.66–997.90 971.78 -8.60
HRC Mexico domestic production delivered Weekly SB01503 pesos/mt 16110.00–17000.00 16555.00 -8.91
HRC India domestic ex-works Mumbai Daily TS01046 Rupee/mt – 54500.00 0.00
HRC Brazil domestic production EXW taxes excluded Weekly SB01138 Real/mt 4000.00–4200.00 4100.00 0.00
HRC CPT Moscow Weekly AAXJI00 Rb/mt 55500.00–56500.00 56000.00 +1.82
Cold-rolled coil export assessments
CRC Russia Black Sea exports FOB Monthly SB01090 $/mt 710.00–720.00 715.00 0.00
CRC China exports FOB Shanghai Weekly SB01083 $/mt – 640.00 -0.62
CRC Brazil exports FOB Brazilian port Monthly SB01081 $/mt 690.00–710.00 700.00 0.00
CRC FOB Black Sea Weekly STRRB00 $/mt 690.00–700.00 695.00 -2.11
Cold-rolled coil import assessments
CRC East Asia imports CFR Monthly SB01084 $/mt – 666.00 -0.30
CRC Europe imports CIF Southern Europe port Monthly SB01085 €/mt 725.00–745.00 735.00 0.00
CRC Turkey imports CFR Turkish port Monthly SB01093 $/mt 740.00–750.00 745.00 +1.36
CRC DDP Houston Daily STRRG00 $/st – 940.00 0.00
CRC CIF Antwerp Daily STRRA00 €/mt 735.00–745.00 740.00 0.00

© 2024 by S&P Global Inc. All rights reserved. 2

Steel Price Report February 22, 2024

Flat products
Frequency Platts symbol Unit Range Midpoint/Close % change
Cold-rolled coil domestic assessments
Platts South European CRC, EXW Italy Weekly SB01091 €/mt – 820.00 -2.38
CRC Ex-stock Shanghai VAT-inclusive Weekly SB01082 Yuan/mt – 4680.00 -0.43
Platts TSI CRC Turkey domestic EXW Weekly SB01092 $/mt – 790.00 -2.47
CRC Mexico domestic production delivered Weekly SB01086 $/mt 1195.66–1247.90 1221.78 -6.97
CRC Mexico domestic production delivered Weekly SB01403 pesos/mt 20369.00–21259.00 20814.00 -7.28
CRC Brazil domestic production EXW taxes excluded Weekly SB01080 Real/mt 4800.00–5000.00 4900.00 0.00
Platts North European CRC, EXW Ruhr Daily STRRE00 €/mt – 810.00 0.00
Platts TSI CRC EXW Indiana Daily STRRI00 $/st – 1210.00 -3.97
Hot dip galvanized assessments
HDG China export FOB Shanghai Monthly SB01119 $/mt – 690.00 -1.43
HDG DDP Houston Monthly SB01124 $/st – 1210.00 0.00
Platts North European HDG Coil, EXW N.EU Wkly Weekly SB01125 €/mt – 825.00 -2.94
Platts South European HDG Coil, EXW Italy Wkly Weekly SB01126 €/mt – 840.00 0.00
Platts Turkey HDG Ex-Works Wkly Weekly SB01127 $/mt – 870.00 -2.25
Platts TSI US HDG-HRC EXW Indiana Daily AHDGA00 $/st – 1200.00 -50.00
Platts TSI US HDG-CRC EXW Indiana Daily ATSIA00 $/st – 1210.00 -50.00
Platts TSI US HDG-CRC EXW Indiana, incl. G90 Daily TS01010 $/st – 1300.00 -50.00
HDG Ex-stock Shanghai VAT-inclusive Monthly SB01118 Yuan/mt – 5000.00 -2.91
HDG Brazil domestic production EXW taxes excluded Weekly SB01117 Real/mt 4900.00–5200.00 5050.00 0.00
Plate assessments
Plate commercial grade China export FOB Shanghai Weekly SB01180 $/mt – 569.00 -0.70
Plate Europe imports CIF Southern Europe port Monthly SB01182 €/mt 710.00–720.00 715.00 +0.70
Plate CFR East Asia (Dangjin, South Korea port) Weekly TS01043 $/mt – 582.00 -0.68
Plate DDP Houston Daily STPGM00 $/mt – 1212.52 0.00
Plate Ex-stock Shanghai VAT-inclusive Weekly SB01178 Yuan/mt – 4050.00 0.00
Platts South European Plate, EXW Italy Wkly Weekly SB01185 €/mt – 750.00 -2.60
Plate DDP Houston Daily STPRG00 $/st – 1100.00 0.00
Platts TSI Plate Delivered US Midwest Daily STPRI00 $/st – 1320.00 0.00
Platts North European Plate, EXW Ruhr Wkly Weekly STPRE00 €/mt – 810.00 -2.41

Lead times (weeks)*

Close Previous Change
US Hot-rolled coil 5.0 5.4 -0.4
US Cold-rolled coil 7.4 7.4 0.0
US Hot-dip galvanized 7.8 8.1 -0.3
US Plate 4.0 4.0 0.0
*Weekly (assessed February 21)

© 2024 by S&P Global Inc. All rights reserved. 3

Steel Price Report February 22, 2024

Long products
Frequency Platts symbol Unit Range Midpoint % change
Rebar export prices
Rebar FOB Turkey Daily STCBM00 $/mt 604.00–606.00 605.00 -0.41
Rebar FOB China Daily STCBZ02 $/mt – 561.00 -0.88
Rebar import prices
Rebar DDP Houston Weekly STCBG00 $/st – 800.00 0.00
Rebar CFR Southeast Asia Daily SB01195 $/mt – 563.00 -0.88
Rebar domestic prices
Rebar EXW US Southeast Weekly STCBC00 $/st 845.00–865.00 855.00 -1.72
Platts Rebar EXW Northwest Europe Weekly STCBE00 €/mt – 640.00 +1.19
Rebar Ex-stock Beijing VAT-inclusive Daily SB01198 Yuan/mt – 3760.00 0.00
Rebar India domestic ex-works Raipur Daily STRIA00 Rupee/mt – 46000.00 0.00
Rebar North America domestic production Ex-mill US Midwest Weekly SB01202 $/st 840.00–850.00 845.00 -1.74
Rebar EXW Jiangsu VAT-inclusive Weekly SB01259 Yuan/mt – 3850.00 0.00
Rebar CPT Moscow Weekly AAXJG00 Rb/mt 52500.00–53500.00 53000.00 +1.92
Rebar Mexico domestic production delivered Weekly SB01199 $/mt – 968.55 -2.03
Rebar Mexico domestic production delivered Weekly SB01603 pesos/mt – 16500.00 -2.37
Platts Index Rebar Mexico domestic Monthly SBMAU03 Index base 100 – 154.35 +3.93
Wire rod export prices
Wire rod mesh quality Black Sea exports FOB Weekly SB01243 $/mt 555.00–565.00 560.00 -1.75
Wire rod mesh quality FOB China Weekly SB01261 $/mt – 565.00 +0.89
Wire rod mesh quality Latin America exports FOB Latin America port Monthly SB01248 $/mt 580.00–600.00 590.00 +5.36
Wire rod mesh quality Turkey exports FOB Turkish port Monthly SB01251 $/mt 630.00–640.00 635.00 0.00
Wire rod domestic prices
Wire rod mesh quality North America domestic production Ex-mill US Midwest Weekly SB01249 $/st 950.00–970.00 960.00 0.00
Wire Rod Ex-stock Shanghai VAT-inclusive Weekly SB01262 Yuan/mt – 3980.00 -2.93
European Industrial Fasteners Institute Wire Rod Change Index Europe Monthly TSMBF03 €/mt – 562.00 +0.36
Merchant bar prices
Merchant bar Europe domestic production delivered Monthly SB01166 €/mt 675.00–685.00 680.00 -2.86
Beam
H-beam CFR Southeast Asia Monthly SB01114 $/mt – 670.00 +1.67
Sections and other
Medium sections Europe domestic production delivered Weekly SB01160 €/mt 775.00–785.00 780.00 +1.30
Medium sections Turkey exports FOB Turkish port Monthly SB01162 $/mt 675.00–680.00 677.50 0.00

© 2024 by S&P Global Inc. All rights reserved. 4

Steel Price Report February 22, 2024

Stainless
Frequency Platts symbol Unit Range Midpoint % change
CR import prices
CR304 2B 2mm East Asia imports CFR Weekly SB01063 $/mt – 2050.00 0.00
CR domestic prices
CR304 Ex-warehouse Foshan VAT-inclusive Monthly SB01058 Yuan/mt – 13700.00 +0.74
Alloy surcharge domestic prices
Alloy surcharge 304 coil Europe domestic production Monthly SB01008 €/mt 1951.00–1992.00 1971.50 -1.23
Alloy surcharge 316 coil Europe domestic production Monthly SB01011 €/mt 3242.00–3299.00 3270.50 +2.91
Alloy surcharge 430 coil Europe domestic production Monthly SB01015 €/mt 957.00–1013.00 985.00 -1.50
Alloy surcharge 304L bright bar Europe domestic production Monthly SB01010 €/mt 2701.00–2960.00 2830.50 -3.23
Alloy surcharge 316L bright bar Europe domestic production Monthly SB01013 €/mt 4224.00–4323.00 4273.50 +0.67
Alloy surcharge 420 bright bar Europe domestic production Monthly SB01014 €/mt 1070.00–1073.00 1071.50 -6.42
Alloy surcharge 430F bright bar Europe domestic production Monthly SB01017 €/mt 1336.00–1381.00 1358.50 -2.58

© 2024 by S&P Global Inc. All rights reserved. 5

Steel Price Report February 22, 2024

Pipe and tube

Frequency Platts symbol Unit Range Midpoint % change
WeldPipe OCTG carbon steel ERW J55 4 1/2-8 5/8 inch North America domestic production Ex-mill US Monthly SB01253 $/st 1600.00–1800.00 1700.00 0.00
WeldPipe OCTG carbon steel ERW J55 4 1/2-8 5/8 inch North America imports EDDP Gulf port Monthly SB01254 $/st 1300.00–1500.00 1400.00 0.00

Semi-finished
Frequency Platts symbol Unit Range Midpoint % change
Billet Ex-stock Tangshan VAT-inclusive Daily SB01032 Yuan/mt – 3640.00 +1.68
Billet CFR China Daily CBLCA00 $/mt – 443.00 +1.37
Billet Turkey exports FOB Monthly SB01039 $/mt 575.00–585.00 580.00 +1.75
Billet CFR Southeast Asia Daily SB01035 $/mt – 540.00 0.00
Billet Latin America exports FOB Latin America port Monthly SB01037 $/mt 540.00–550.00 545.00 0.00
Billet Turkey imports CFR Turkish port Daily SB01040 $/mt 540.00–545.00 542.50 +0.46
Billet FOB Black Sea Daily STBLB00 $/mt – 525.00 0.00
Slab Black Sea exports FOB Weekly SB01233 $/mt 515.00–525.00 520.00 -3.70
Slab CFR Southeast Asia Monthly SB01235 $/mt – 620.00 0.00
Slab Brazil exports FOB Brazilian ports Weekly SB01236 $/mt 650.00–670.00 660.00 -1.49
Slab CIF Italy Weekly AITAA04 $/mt – 650.00 -1.52

Platts TSI steel assessments currency and unit comparisons, February 22

Prior assessment
€/mt $/mt $/st $/CWT $/mt $ change % change
Hot-rolled coil
Platts North European HRC, EXW Ruhr* STHRE00 715.00*** STHRM00 773.27 STHRD00 701.51 STHRH00 35.08 784.09 -10.82 -1.38
CIF Antwerp* STHRA00 650.00*** STHAM00 702.98 STHAD00 637.74 STHAH00 31.90 702.98 0.00 0.00
Platts TSI HRC EXW Indiana** STHIE00 916.66 STHIM00 992.06 TS01018 900.00*** STHIH00 45.00 992.06 0.00 0.00
DDP Houston STHGE00 774.07 STHGM00 837.74 STHRG00 760.00*** STHGH00 38.00 881.83 -44.09 -5.00
Cold-rolled coil
Platts North European CRC, EXW Ruhr* STRRE00 810.00*** STRRM00 876.02 STRRD00 794.73 STRRH00 39.75 876.02 0.00 0.00
CIF Antwerp* STRRA00 740.00*** STRAM00 800.31 STRAD00 726.04 STRAH00 36.31 800.31 0.00 0.00
Platts TSI CRC EXW Indiana** STRIE00 1232.40 STRIM00 1333.77 STRRI00 1210.00*** STRIH00 60.50 1388.89 -55.12 -3.97
DDP Houston STRGE00 957.41 STRGM00 1036.16 STRRG00 940.00*** STRGH00 47.00 1036.16 0.00 0.00
Plate
Platts TSI Plate Delivered US Midwest** STPIE00 1344.45 STPIM00 1455.03 STPRI00 1320.00*** STPIH00 66.00 1455.03 0.00 0.00
DDP Houston STPGE00 1120.37 STPGM00 1212.52 STPRG00 1100.00*** STPGH00 55.00 1212.52 0.00 0.00
Reinforcing bar
Platts EXW Northwest Europe* STCBE00 640.00*** STCNM00 692.16 STCND00 627.93 STCNH00 31.40 678.55 +13.61 +2.01
East Mediterranean, basis Turkey* STCEE00 559.41 STCBM00 605.00*** STCED00 548.86 STCEH00 27.45 607.50 -2.50 -0.41
EXW US Southeast** STCCE00 874.51 STCCM00 942.46 STCBC00 855.00*** STCCH00 42.75 958.99 -16.53 -1.72
DDP Houston STCGE00 818.25 STCGM00 881.83 STCBG00 800.00*** STCGH00 40.00 881.83 0.00 0.00
*LN 16:30 €/$ ex rate = 1.3776; **NY 16:30 $/Eur ex rate = 0.7282. ***the primary assessments and have not been converted

© 2024 by S&P Global Inc. All rights reserved. 6

Steel Price Report February 22, 2024

Platts Turkey ARC tracker

Indexes against 30-day and 60-day moving averages
22-Feb 21-Feb
vs 30-day vs 60-day vs 30-day vs 60-day

Scrap FETKF10 -0.62% FETKG10 -1.25% FETKF10 -0.95% FETKG10 -1.51%

FETKF00 -$2.53 FETKG00 -$5.15 FETKF00 -$3.91 FETKG00 -$6.22

Billet FETKH10 1.43% FETKI10 2.36% FETKH10 3.16% FETKI10 4.00%

FETKH00 +$7.75 FETKI00 +$12.77 FETKH00+$17.38 FETKI00+$22.01

Rebar FETKJ10 -0.75% FETKK60 -0.89% FETKJ10 -2.02% FETKK60 -2.10%

FETKJ00 -$4.52 FETKK00 -$5.36 FETKJ00 -$12.28 FETKK00 -$12.77

Market direction FETKE20 -2.23% FETKE00 -$12.50 FETKE20 -0.36% FETKE00 -$1.50

Composite Index
(July, 6, 2012 =100) FETKL00 99.52 FETKL00 100.32

only for your personal use or, if you or your company has a license for the Data and/or completeness of the Data or any component thereof or any
Steel Price Report from S&P Global Commodity Insights and you are an authorized user, for your communications (whether written, oral, electronic or in other format), and shall not
company’s internal business use only. You may not publish, reproduce, extract, be subject to any damages or liability, including but not limited to any indirect,
distribute, retransmit, resell, create any derivative work from and/or otherwise special, incidental, punitive or consequential damages (including but not limited to,
Contact Client Services: [email protected], Americas +1-800-752-8878,
Europe & Middle East +44-20-7176-6111, Asia Pacific +65-6530-6430 provide access to the Data or any portion thereof to any person (either within or loss of profits, trading losses and loss of goodwill).
outside your company, including as part of or via any internal electronic system or
ICE index data and NYMEX futures data used herein are provided under S&P Global
intranet), firm or entity, including any subsidiary, parent, or other entity that is
Commodity Insights’ commercial licensing agreements with ICE and with NYMEX.
affiliated with your company, without S&P Global Commodity Insights’ prior written
Steel Price Report is published daily by S&P Global Commodity Insights, a division You acknowledge that the ICE index data and NYMEX futures data herein are
consent or as otherwise authorized under license from S&P Global Commodity
of S&P Global. Registered office 55 Water Street, 37th Floor, New York, N.Y. 10038. confidential and are proprietary trade secrets and data of ICE and NYMEX or its
Insights. Any use or distribution of the Data beyond the express uses authorized in
Officers of the Corporation: Richard E. Thornburgh, Non-Executive Chairman; Doug licensors/suppliers, and you shall use best efforts to prevent the unauthorized
this paragraph above is subject to the payment of additional fees to S&P Global
Peterson, President and Chief Executive Officer; Ewout Steenbergen, Executive publication, disclosure or copying of the ICE index data and/or NYMEX futures data.
Commodity Insights.
Vice President, Chief Financial Officer; Steve Kemps, Executive Vice President, Permission is granted for those registered with the Copyright Clearance Center
S&P Global Commodity Insights, its affiliates and all of their third-party licensors
General Counsel (CCC) to copy material herein for internal reference or personal use only, provided
disclaim any and all warranties, express or implied, including, but not limited to, any
© 2024 by S&P Global Inc. All rights reserved. that appropriate payment is made to the CCC, 222 Rosewood Drive, Danvers, MA
warranties of merchantability or fitness for a particular purpose or use as to the
01923, phone +1-978-750-8400. Reproduction in any other form, or for any other
S&P Global, the S&P Global logo, S&P Global Commodity Insights, and Platts are Data, or the results obtained by its use or as to the performance thereof. Data in
purpose, is forbidden without the express prior permission of S&P Global Inc. For
trademarks of S&P Global Inc. Permission for any commercial use of these this publication includes independent and verifiable data collected from actual
article reprints contact: The YGS Group, phone +1-717-505-9701 x105 (800-501-9571
trademarks must be obtained in writing from S&P Global Inc. market participants. Any user of the Data should not rely on any information and/
or assessment contained therein in making any investment, trading, risk from the U.S.).
You may view or otherwise use the information, prices, indices, assessments and management or other decision. S&P Global Commodity Insights, its affiliates and For all other queries or requests pursuant to this notice, please contact S&P Global
other related information, graphs, tables and images (“Data”) in this publication their third-party licensors do not guarantee the adequacy, accuracy, timeliness Inc. via email at [email protected].

© 2024 by S&P Global Inc. All rights reserved. 7

Steel Price Report February 22, 2024

Steel mill economics: global spreads, February 22, 2024 Platts US HRC daily index rationale
Frequency Platts symbol Unit Spread Change % change Platts assessed the daily TSI US hot-rolled coil
HRC ASEAN spread (TSI) Daily AOPFE00 $/mt 208.64 -0.96 -0.46 index at $900/st on an ex-works Indiana basis Feb. 22,
HRC China export spread (Platts) Daily AOPKE00 $/mt 162.64 -1.96 -1.19 unchanged from the previous assessment.
Rebar China export spread (Platts) Daily AOPLE00 $/mt 176.64 -5.96 -3.26 One Midwest service center source put tradable
China HRC domestic steel mill margin (MVS) Daily AMVSA00 $/mt -50.35 -7.88 +18.55 value at $840/st ex-works for under 100 st from a
China rebar domestic steel mill margin (MVS) Daily AMVSB00 $/mt -56.20 -1.65 +3.02 Midwest mill. There were no other new bids, offers or
Rebar scrap Turkey spread (Platts: TSI) Daily AOPGE00 $/mt 194.00 -2.50 -1.27 transactions reported on the day. Recent prevailing
Rebar Black Sea billet spread (Platts) Daily AOPHE00 $/mt 90.00 +7.50 +9.09
indicative values remain in a wide range of $840-$950/
US HRC – MW Shredded Scrap Spread (TSI) Daily AOPIE00 $/st 493.75 0.00 0.00
st ex-works from Midwest mills.
US Rebar – MW Shredded Scrap Spread (TSI) Daily AOPJE00 $/st 448.75 0.00 0.00
No data was excluded from the assessment.
US HRC – MW #1 Busheling Spread (TSI) Daily ABUSH00 $/st 471.43 0.00 0.00
For spreads calculation and assessment methodology, please go to: http://platts.com/IM.Platts.Content/MethodologyReferences/MethodologySpecs/steel.
Platts is part of S&P Global Commodity Insights.
pdf The above rationale applies to the daily Platts TSI
US HRC EXW Indiana index, with the associated market
data code: STHRI00

Subscriber Notes

Platts clarifies CO2 surcharges in European ex-works

steel coil spot price assessments
Platts, part of S&P Global Commodity Insights, is
clarifying that its European ex-works steel coil spot
price assessments reflect carbon dioxide emission
(CO2) surcharges when quoted as part of a total ex-
works price or netback to ex-works.
This clarification comes on the back of increasing
Assessment Rationale enquiries regarding CO2 surcharges and Platts
...from page 1 treatment of these surcharges in the assessment
process.
$600-$610/mt FOB. Mill’s offers were heard at $610- Platts has observed that some European steel mills
$615/mt FOB. have begun listing CO2 surcharges as an individual
No data was excluded from the assessment. component of final total ex-works pricing, while other
Platts is part of S&P Global Commodity Insights. steelmakers have continued to offer material as a
The above rationale applies to the Platts daily single all-in ex-works price.
Turkish rebar assessment, with the associated market Although not listed out separately, associated
data code STCBM00. carbon emissions costs for other steelmakers are

© 2024 by S&P Global Inc. All rights reserved. 8

Steel Price Report February 22, 2024

Exchange steel futures Steel industry data

Platts symbol Close % change Platts symbol (‘000 mt) Change
Rebar futures, China (Yuan/mt) Monthly crude steel production (June)
Shanghai Futures Exchange rebar 1 month XHRC001 3846.00 +0.29 World (66 reporting countries) IISIA03 158082.93 -10226.67
Shanghai Futures Exchange rebar 2 month XHRC002 3776.00 +0.11 Source: World Steel Association
Shanghai Futures Exchange rebar 3 month XHRC003 3797.00 +0.16 American Iron and Steel Institute data
Shanghai Futures Exchange rebar 4 month XHRC004 3778.00 -0.05 AISI raw steel US production weekly (tons) AISII04 1721000.00 +11000.00
Shanghai Futures Exchange rebar 5 month XHRC005 3785.00 -0.03 AISI raw steel US capability utilization weekly (%) AISIH04 77.50 +0.50
Shanghai Futures Exchange rebar 6 month XHRC006 3787.00 +0.19
Shanghai Futures Exchange rebar 7 month XHRC007 3790.00 +0.08
Shanghai Futures Exchange rebar 8 month XHRC008 3772.00 +0.05
Shanghai Futures Exchange rebar 9 month XHRC009 3766.00 +0.32
Shanghai Futures Exchange rebar 10 month XHRC010 3766.00 +0.40
Shanghai Futures Exchange rebar 11 month XHRC011 3729.00 +0.21
Shanghai Futures Exchange rebar 12 month XHRC012 3720.00 +0.08
Hot-rolled coil futures, US ($/st)
CME Globex US Midwest domestic HRC 1 month XNHR001 922.00 -0.32
CME Globex US Midwest domestic HRC 2 month XNHR002 809.00 -0.49
CME Globex US Midwest domestic HRC 3 month XNHR003 794.00 +0.38
CME Globex US Midwest domestic HRC 4 month XNHR004 812.00 0.00
CME Globex US Midwest domestic HRC 5 month XNHR005 831.00 +0.12
CME Globex US Midwest domestic HRC 6 month XNHR006 845.00 0.00
CME Globex US Midwest domestic HRC 7 month XNHR007 845.00 0.00
CME Globex US Midwest domestic HRC 8 month XNHR008 845.00 0.00
CME Globex US Midwest domestic HRC 9 month XNHR009 850.00 0.00
CME Globex US Midwest domestic HRC 10 month XNHR010 850.00 0.00
CME Globex US Midwest domestic HRC 11 month XNHR011 855.00 0.00
CME Globex US Midwest domestic HRC 12 month XNHR012 875.00 0.00

typically included in the single all-in ex-works prices The assessments are published on pages 1200, 1233 [email protected].
offered, according to market feedback gathered and 1263 of Platts Steel Alert, in SBB Steel Markets For written comments, please provide a clear
by Platts. Daily, on Platts Connect, in Platts Market Center, and in indication if they are not intended for publication
Platts European domestic coil assessments include the Platts price database. by Platts for public viewing. Platts will consider all
Northwest and South European hot-rolled coil, cold- Please send any comments and questions comments received and will make comments not
rolled coil and hot-dipped galvanized coil. to [email protected] and marked as confidential available upon request.

© 2024 by S&P Global Inc. All rights reserved. 9