Platts to update foreign exchange conversion data used for Brazilian steel assessments

Platts, part of S&P Global Commodity Insights, plans to update the foreign exchange assessment used to convert the value of Brazilian domestic steel assessments from the Brazilian Real into US dollars, effective Jan. 6, 2023.

Platts currently uses US dollar-Brazilian Real foreign exchange assessments published at the 4:30 pm London market close (USBRL00) and 1:30 pm Houston market close (USDRE00) to convert the value of Brazilian domestic hot-rolled coil (SB01138), cold-rolled coil (SB01080), and rebar (SB01190) assessments into $/mt.

Effective January 2023, Platts will instead use the Platts US dollar-BRL foreign exchange assessment (USDBR00) time-stamped at 4:30 pm São Paulo time. The change will capture a more timely conversion rate for domestic Brazilian assessments.

Please send any questions, comments, or feedback to LatAmMetalsteam@spglobal.com and pricegroup@spglobal.com.

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