SUBSCRIBER NOTE: Platts to combine Platts, TSI Asian steel price series

S&P Global Platts will align its processes and eliminate duplications for various steel indices and assessments in Asia from October 2, 2017.

This decision follows a period of industry feedback that started on June 2 with the publication of a proposal note on this subject.

This subscriber note relates to the following TSI-branded indices: TSI HRC-SS400 Asean Imports CFR Asean Port (TS01012) TSI HRC [SAE] Asean Imports CFR Asean Port (TS01041) TSI HRC Chinese Exports FOB China Port Wkly (TSHRC00) TSI HRC India Domestic DDP Mumbai Wkly (TS01046) TSI CRC Asean Imports CFR Asean Port Wkly (TS01042) TSI CRC Chinese Exports FOB China Port Wkly (TSCRC00) TSI Plate Asean Imports CFR Asean Port Wkly (TS01043)

The Platts-branded assessments this note relates to are: HRC CFR East Asia (SB01142) HRC India ex-works (SB01144) CRC CFR East Asia (SB01084) Plate CFR East Asia (SB01176) Slab CFR East Asia (SB01235) Rebar CFR East Asia (SB01195) Rebar FOB China (STCBZ02) Billet CFR East Asia (SB01035) H-Beam CFR East Asia (SB01114) HMS I/II CFR East Asia (SB01130)

DATA TREATMENT: Platts will adopt the Market on Close (MOC) price assessment process for all the above price series. This is an inclusive assessment methodology that uses transactional data from a multitude of sources according to a clear data hierarchy. The methodology has proven particularly robust in dealing with the trading patterns in the seaborne steel markets. There will be no volume-weighted average calculation, as price assessments will instead aim to reflect an end-of-day value.

HRC CFR ASEAN/EAST ASIA Platts will adopt the Market on Close price assessment process for TSI HRC [SAE] Asean Imports CFR Asean Port (TS01041), with no change to the name of the index.

Platts will rename the CFR East Asia (SB01142) assessment as CFR Southeast Asia, and increase the frequency of its publication to daily from weekly. The basis port in its specification remains unchanged as Ho Chi Minh City. Platts will discontinue the TSI HRC-SS400 Asean Imports CFR Asean (TS01012) index at the same time.

HRC FOB CHINA Platts will discontinue the weekly TSHRC00. Platts publishes an equivalent daily FOB China assessment (STHRZ02) reflecting SS400 specifications and the daily SAE1006 premium (STHRY00).

HRC INDIA Platts will rename the weekly TS01046 as HRC India Domestic DDP Mumbai. The corresponding monthly HRC India ex-works (SB01144) assessment will be discontinued, and its price history be used to backfill the history of TS01046 for dates prior to the launch of TS01046 on January 7,2013.

CRC CFR ASEAN/EAST ASIA Platts is reviewing its specifications for the weekly TS01042 and monthly SB01084 CRC price series in light of the latest spot trade flows, and will communicate a decision in a subsequent subscriber note.

CRC FOB CHINA Platts will discontinue the TSI CRC FOB China price series (TSCRC00). Platts publishes an equivalent weekly CRC FOB China assessment (SB01083).

PLATE CFR ASEAN/EAST ASIA Platts will rename the weekly TS01043 as Plate CFR East Asia, with Dangjin, South Korea, as its basis port. The corresponding monthly Plate CFR East Asia (SB01176) assessment would be discontinued, and its price history would be used to backfill the history of TS01043 for dates prior to the launch of TS01043 on January 20, 2014.

SLAB CFR EAST ASIA Platts will rename the assessment as Slab CFR Southeast Asia, with Cigading, Indonesia, specified as the basis port, in reflection of current trade flows.

REBAR CFR EAST ASIA; FOB CHINA Platts will rename the CFR East Asia assessment (SB01195) to CFR Southeast Asia and increase the frequency of its publication to daily from weekly. Platts will change the basis port of the renamed CFR Southeast Asia assessment to Singapore, from Singapore and Hong Kong currently. Platts will change the basis port of the FOB China assessment to Zhangjiagang from Tianjin, in reflection of changes to trade flows.

BILLET CFR EAST ASIA Platts will rename the assessment to Billet CFR Southeast Asia, with Manila, Philippines, specified as the basis port, in reflection of current trade flows.

H-BEAM CFR EAST ASIA Platts will rename the assessment to H-Beam CFR Southeast Asia, with Port Klang, Malaysia, specified as the basis port, in reflection of current trade flows.

HEAVY MELTING SCRAP I/II CFR EAST ASIA Platts will specify Dangjin, South Korea, as its basis port in reflection of current trade flows.

DATA COLLECTION: Platts will collect transactional data until 5:30 pm Singapore/Beijing time. The data will be collected by surveying active market participants on the respective trade routes, while any market participant would also be able to submit data to the TSI price reporting portal.

Platts will discontinue receiving submissions pursuant to the existing TSI Data Provider agreements for companies submitting to TSI's Asian steel indices.

FEEDBACK: Please submit any feedback, comments or questions to pricemethodology@spglobal.com. For written comments, please provide a clear indication if comments are not intended for publication by Platts for public viewing. Platts will consider all comments received and will make comments not marked as confidential available upon request.