SUBSCRIBER NOTE: Platts launches new assessment for UK hot-rolled coil

Effective December 5, 2014, Platts has launched a weekly assessment of the UK hot rolled coil steel market.

The price assessment for HRC DDP UK (SYMBLXX) normalizes to delivered duty paid West Midlands, and captures prime imported and domestically produced material as well as port stocks.

The assessment will comply with chemical and mechanical tolerances based on European Norm EN10025-2:2004 Grade: S275JR or equivalent. Other specifications of HRC will be normalized back to this grade using current market extras typically applied in the industry.

The assessment normalizes to 3 millimeter thick and up to 1.8 meter wide S275 hot rolled coil. Minimum order size is 100 mt, with a maximum 500 mt, and the delivery window is two to six weeks from the date of publication.

Payment terms are normalized to net-40 days, with the assessment in GBP/mt.

The weekly assessment is made on Fridays or closest business day (in the event of holidays), time stamped to 1630 London time.

The assessment is published in Platts Metals Alert and Platts SBB Steel Markets Daily, and data-only packages are available on Market Data, with monthly averages also available on the same services.