Background to CRU steel price assessments

CRU been making independent assessments of steel industry prices for over 30 years. Initially these assessments were used mainly to benchmark the purchasing/selling performance of individual companies against the industry average, but now, each year, they are used in the settlement of physical and financial contracts with a worth of tens of billions of dollars. In total, CRU makes assessments of over 120 carbon steel products. Each are constructed using a robust methodology and each are published without fail every month. We are in a constant dialogue with steel industry participants and are committed to delivering the price assessments that they require.  (see CRU Steel price assessments - policy document).

Product and geographical coverage of CRU Steel prices
In terms of product coverage, CRU Steel Prices can be broken down into two categories; those that cover "semi-finished products", and those that cover "finished products". Moreover, the finished products category can itself be further divided into "long products" and "flat products".

In terms of geography, CRU Steel Prices currently cover the major consuming markets within North America, Europe and Asia, and also the major import/export prices around the world. However, it is our intention to widen the coverage of our Steel Prices to other geographical markets over time.

Historical coverage of CRU Steel prices
The overwhelming majority of our steel prices have a (monthly) history of at least 18 years. Some, however, go back further – for over 30 years in the case of our US steel sheet price series. It is worth remembering that a historical series is only valid to the extent that the current methodology is materially unchanged from that used in the past. Aspects of CRU’s methodology have been tweaked and improved during the past 30 years or so, but it remains materially unchanged.

CRU Steel prices definitions
CRU Steel Prices definitions are strictly adhered to, ensuring that all of the data submissions that we receive for a particular price are identical in all respects, whether this is the specification of the product or the delivery terms (fob, c&f etc.). The full definitions are available in our Definitions document.

How are they calculated?
CRU Steel Prices are calculated using a methodology that yields results that are accurate; which have unrivalled acceptance from industry participants; and which are wholly independent. To learn more about how the CRU Steel Prices are calculated see our Methodology page.

How can I access CRU Steel prices?
CRU Steel Prices are currently available only to subscribers of the relevant CRU publications. These publications include:

  • CRU Steel Long Products Monitor:  Where CRU’s definitive assessments of billet, wire rod, rebar, merchant bar and structurals prices are first published.
  • CRU Steel Sheet Products Monitor: Where CRU’s definitive assessments of slab, hot-rolled coil, cold-rolled coil, hot-dipped galvanised coil and electro-galvanised coil are first published.
  • CRU Steel Monitor: Containing CRU’s price assessments for semi-finished products and finished products, including plate, in selected marke
  • CRU Steel News: Containing CRU’s price assessments for semi-finished products and finished products in selected markets.

 

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