Platts clarifies name of HRS101 Heavy Recycled Steel CFR China assessment

Following industry consultation, S&P Global Platts would like to clarify its adoption of the name HRS101 Heavy Recycled Steel CFR China for the price assessment with the symbol CHMCA00 with immediate effect.

Platts launched the assessment as HRS101 Ferrous Scrap CFR China on Jan. 4, 2021, the world's first daily price assessment for material imported into the country, after its implementation of new national standards for recycled ferrous materials on Jan. 1.

To distinguish material traded under the new standard from that under the older steel scrap standard – the import of which into China is restricted – market participants have avoided use of the term "scrap" in documentation when intended for sale to the country, using instead "heavy recycled steel."

All other specifications of the assessment remain unchanged.

The assessment is published in Platts SBB Steel Markets Daily and in Platts Steel Alert on fixed pages 1326 and 0795, and is available via Platts Market Data category ST.

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