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CRU values – quality & integrity

The CRU and all CRU prices are trusted commodity price assessments benefiting from CRU’s prominent position as a PRA and market research leader.

Our commitment to following industry best practice, enshrined in the “IOSCO PRA Principles” is consistent with our company values – quality and integrity. These underpin our approach to all our stakeholders and underline our desire not only to do things right, but to do the right things and take responsibility in doing that.

Company culture and high individual standards are reflected in our internal policies and responsibility to uphold our values of quality and integrity.

IOSCO ADHERENCE

CRU’s price policies, processes, methodologies and price governance and compliance arrangements have been designed to follow IOSCO Principles which we believe to represent current best practice in price determination.

PRICE GOVERNANCE, COMPLIANCE AND CONTROL

CRU’s dedicated Compliance Lead exercises oversight of the global compliance framework and embeds the compliance culture as set by the CRU Executive Committee.

EXTERNAL AUDITING

CRU has appointed independent external auditors with appropriate experience to provide independent assurance over price policies, processes and methodologies, and specifically in regard to data provision to The CRU.

METHODOLOGY

CRU's Midwest Flat Rolled Price Methodology

The CRU has the most robust and appropriate methodology for price accuracy. Methodology highlights include:

  • Transaction-only data inputs
  • Volume-weighted, subject to a cap
  • Weekly for accuracy and robustness of market sampling
  • Representative, with buyer/seller inputs balanced
  • Data provider due diligence and integrity
  • Expert US-based analyst oversight
  • Assessor blind to data provider identity avoids bias
  • Audit provision

For further reference, view the CRU Group Compliance Framework and Methodology Guide and Carbon Steel Methodology and Definitions Guide.

 

 

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