CRU to go Live With Their Italian Hot-Rolled Coil Steel Index

LONDON, January 31, 2011 /PRNewswire/ -- Following a nine month research and development period, CRU will publish a definitive weekly Italian hot-rolled coil index each Wednesday from 2nd March 2011.

CRU has published monthly Italian hot-rolled coil price assessments for over 20 years. When asked why he felt the timing was right to move to weekly John Kovacs, who oversees CRU's European flat products analysis, commented, "With such continued and sustained price volatility, more frequent independent assessments of market prices are becoming increasingly important. Weekly assessments offer greater insight into market developments, which allows us to deliver even more robust commentary and analysis to our clients."

Glenn Cooney, Head of Operations at CRU Indices, said, "We have noticed a significant increase in enquiries since Q3 2010 and this, coupled with more physical steel players contributing data, has led to us moving to a weekly price assessment for Italian hot-rolled coil. We are currently developing weekly Italian cold-rolled coil and hot-dipped galvanised coil indices as well and expect these to be officially published at some point in Q2."

Anyone wishing to be involved in the evolution of these indices by becoming a data provider should register 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. CRU's US Midwest hot-rolled coil index is used in the settlement of CME's Hot-rolled coil steel futures contract. For further information, visit http://www.cruindices.com

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

    
    Contacts

    John Kovacs                            Glenn Cooney
    Principal Consultant, Carbon Steel     Head of Operations
    CRU Analysis                           CRU Indices
    Tel: +44(0)20-7903-2313                Tel: +44(0)20-7903-2056
    Email: john.kovacs@crugroup.com        Email: glenn.cooney@crugroup.com