Platts proposes updating currency basis for Mexico domestic HRC, CRC assessments

Platts, part of S&P Global Energy, is proposing to change the currency basis of its Mexico domestic hot-rolled coil and cold-rolled coil steel price assessments from Mexican pesos to US dollars, effective Nov. 6, 2026.

The proposed change would establish the US-dollar-per-metric-ton price as the primary price assessment for Mexico domestic HRC and CRC. Platts would continue to publish calculated Mexican-pesos-per-metric-ton equivalents, preserving the existing currency conversion for market participants who require prices in Mexican pesos. The symbols remain unchanged; the only difference is that, rather than first assessing in peso and converting to US dollar, Platts will assess in US dollars and the peso symbol will be calculated using the USD/MXN spot foreign exchange assessment (AFXUS00) at 16:30 Sao Paulo time.

The proposed change is to reflect domestic steel market pricing practices, while maintaining continuity for users of the existing Mexican peso-denominated calculations.

All other specifications and correlated symbols would remain unchanged as follows:

Platts invites feedback, comments, and questions on this proposal to Metals.Mexico@spglobal.com and pricegroup@spglobal.com by Oct. 2.

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.