Platts TSI US HRC, Ex-Works Indiana assessment is the daily price benchmark for physical hot rolled coil delivered in the US Midwest region. The assessment reflects Prime Hot Rolled Steel Coils of new manufacture.
Chemical and mechanical tolerances are based on ASTM A 1011-06a Commercial Type B. Other specifications of HRC are normalized back to this grade based on prevailing market extras typically applied in the industry.
This value is calculated as a volume-weighted average. This index is also converted into $/mt (STHIM00) and $/Cwt, using standard conversions.
Platts takes into consideration trades, bids and offers for orders exceeding 100 st on an EXW Indiana basis. Data collected is normalized to US Midwest basis. This value is calculated as a volume-weighted average.
These inputs are published throughout the day, in real-time, in the form of "market heards", to allow Platts to test the information, which forms the basis of the assessment and for market participants to give feedback on those inputs.
The assessment reflects a minimum quantity of 100 ST, with dimensions of W 48-72", T 0.083-0.37". Other quantities may also be considered but in relation to the assessed quantity range. Platts considers payment terms of Net 30 days after delivery.