CRU Increase Frequency of their US Plate Index

News provided by

CRU

May 20, 2010, 08:59 ET

LONDON, May 20, 2010 /PRNewswire/ -- Having tracked plate prices in the US Midwest on a monthly basis for over 15 years CRU are introducing weekly assessments from May 26th.

Paul Scott, a leading steel analyst with CRU, commented, "We feel that adding US Midwest Plate is a natural extension to our flat products index portfolio". CRU's assessments of U.S. Midwest prices are already used in the settlement of CME's U.S. Midwest Hot-Rolled Coil Steel Futures Contract.*

Glenn Cooney, Head of Operations at CRU Indices, said, "We will launch the weekly index on May 26th. It will evolve through a shadow period before being officially published in CRU's Steel Monitor later this year. During the shadow period only data providers will see the weekly index".

Anyone wishing to be involved in the evolution of these indices by becoming a data provider should register at http://www.cruindices.com.

Upon completion of the shadow period, the indices will be available to data providers and subscribers to CRU'S Steel Monitor.**

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

* CME's U.S. Midwest Hot-Rolled Coil Steel Futures Contract was launched in October 2008. For further information, visit

http://www.cmegroup.com/metals.

** CRU's Steel Products Monitor covers the global market for steel products providing accurate price assessments, market commentary and analysis. Samples available at http://www.crumonitor.com

    Contacts

    Paul Scott
    Managing Consultant - Steel Team
    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

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