Platts to update currency basis for Mexico domestic HRC, CRC assessments to USD, provide calculation in MXN

Platts, part of S&P Global Energy, will 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 change will establish the US-dollar-per-metric-ton price as the primary price assessment for Mexico domestic HRC and CRC. Platts will 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 dollars, 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 change will reflect domestic steel market pricing practices, while maintaining continuity for users of the existing Mexican peso-denominated calculations.

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

Assessment	Code	Type	Published	Quality	Quantity	Dimensions	Incoterms	Location	Timing	Payment	UOM
HRC Mexico Dom Prod Delivered	SB01145	Assessment	Weekly	SAE 1006-1008	500-2,000 mt	48 inches, caliber 11-14	Delivered	Monterrey, Northeast Mexico	Delivery 4-8 weeks	Net 30 days after delivery	$/mt
HRC Mexico Dom Prod Delivered	SB01503	Calculation	Weekly	SAE 1006-1008	500-2,000 mt	48 inches, caliber 11-14	Delivered	Monterrey, Northeast Mexico	Delivery 4-8 weeks	Net 30 days after delivery	MXN/mt
CRC Mexico Dom Prod Delivered	SB01086	Assessment	Weekly	SAE 1006-1008	500-2,000 mt	36-48 inches, caliber 18-24	Delivered	Monterrey, Northeast Mexico	Delivery 4-8 weeks	Net 30 days after delivery	$/mt
CRC Mexico Dom Prod Delivered	SB01403	Calculation	Weekly	SAE 1006-1008	500-2,000 mt	36-48 inches, caliber 18-24	Delivered	Monterrey, Northeast Mexico	Delivery 4-8 weeks	Net 30 days after delivery	MXN/mt

Platts first proposed the currency change basis for its Mexico domestic HRC and CRC steel price assessments in a note published on Sept. 25: https://www.spglobal.com/energy/en/pricing-benchmarks/our-methodology/subscriber-notes/092526-platts-proposes-updating-currency-basis-for-mexico-domestic-hrc-crc-assessments .

Please send comments and questions to Metals.Mexico@spglobal.com and pricegroup@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.