CRU Introduce Definitive Weekly US Midwest Hot-dipped Galvanized Coil Index

LONDON, September 8, 2010 /PRNewswire/ -- Having published a monthly assessment (index) of US Midwest hot-dipped galvanized (HDG) coil prices for over 25 years, CRU will begin publishing its weekly assessment from September 8th after concluding a nine month development period.

"During the development period only those who provided data on their spot HDG transactions received the index. From today, subscribers to CRU's Steel Sheet Products Monitor will receive the weekly index in addition to the weekly indices already available for US Midwest hot-rolled* coil and cold-rolled coil", commented Glenn Cooney, Head of Operations at CRU Indices.

Paul Scott, Group Manager, Steel at CRU said, "The introduction of our weekly HDG index is a valuable addition to our portfolio of price assessments. Given the significant increase in steel price volatility in recent years, market participants are now demanding more frequent assessments of steel industry prices".

Anyone wishing to be involved in contributing to these indices by becoming a data provider should register their interest at http://www.cruindices.com.

Notes for editors

CRU Indices is a division of CRU Group - the world's leading independent authority on metals, mining, fertilizers and chemicals - who publish market leading, independent price assessments for carbon steel. For further information, visit http://www.cruindices.com

* CRU's HRC price assessments are used in the settlement of CME's U.S. Midwest Hot-Rolled Coil Steel Futures Contract. For further information, visit http://www.cmegroup.com/metals.

    Contacts:
    Paul Scott
    Group Manager, Steel
    CRU Analysis
    Tel: +44-20-7903-2185
    Email: [email protected]

    Glenn Cooney
    Head of Operations
    CRU Indices
    Tel: +44-20-7903-2056
    Email: [email protected]

SOURCE CRU Indices