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Home > Product and Price Definitions  
PRODUCT DEFINITIONS

All price and market data is researched by MEPS staff and our local correspondents.

METHODOLOGY - Steel price information is obtained through confidential discussions with a wide range of steel buyers in twenty eight countries throughout the world. From the conversations, we gain information about real deals made, the steel supply demand balance and short term requirements of the market. After analysing the results, we determine a price range each month for seventeen different steel product forms.

Hot-Rolled Wide Coil - 2-3mm thickness, width over 1.1 metres - except USA and Canada: thickness 0.08 inches, width over 40 inches.

Hot-Rolled Plates - 15-40mm thickness, width over 2.0 metres - except China and Taiwan: width less than 2.0 metres and USA and Canada: 1-1.5 inches thickness, width over 60 inches.

Cold-Rolled Coils - 1mm thickness, width over 1.3 metres - except USA and Canada: 0.05 inches thickness, width over 40 inches.

Hot Dipped Galvanised Coils - 1mm thickness, width over 1.1 metres, standard coating - except Eastern Europe: sheet form, USA and Canada: 0.05 inches thickness, width over 40 inches and EU: coating thickness 275 gm/m2.

Electro-Zinc Coated Coils - 1mm thickness, width over 1.1 metres, standard coating - except USA: 0.05 inches thickness, width over 40 inches.

Wire Rod (Mesh Quality) - 8-12mm diameter - except USA: 0.3 -0.5 inches and China: 6.5mm (high speed).

Medium Sections and Beams - 240mm x 240mm H-Beam - except USA and Canada: 10 inches x 10 inches wide flange beam and China: 300mm x 300mm H-beam.

Reinforcing Bar (Deformed) - 16-20mm diameter - except USA and Canada: #6(0.75 inches diameter).

Merchant Bar - 50 x 50mm x 6mm equal angle - except USA and Canada: 2 x 2 inches x 0.25 inches equal angle.

PRICE DEFINITIONS - CARBON STEEL

All figures are generated from individual country data researched by our staff. They are based on low transaction values negotiated in the month and paid by consumers and stockholders for prime material in the specified steel products. Prices are for regular business transactions between customers and their local steel mills, negotiated during the current month for delivery in the future. Transaction prices include all extras for the lowest priced grade of steel for the selected products - sold ex mill. (see product definitions).

Delivery charges and local taxes are not included in the quoted prices. Extended contract deals arranged in the domestic market, or agreements for lots of imported steel, are specifically excluded from our price evaluation.

Please note the transaction references in the different geographic areas:-

China-spot transaction prices between mills and first tier distributors across the main consuming regions

Japan-spot transaction prices between mills and first tier stockholders or consumers.

Korea-the low price relates to deals between the mills and large steel consumers. The high price refers to ex stock mill sales through selected outlets.

European Union-the average price is weighted based on consumption in the five main countries -individual country prices refer to deals between customers and EU mills.

United States-Mid West spot transaction prices from the domestic mills.

PRODUCT DEFINITIONS - STAINLESS STEEL

All price and market data is researched by MEPS staff and our local correspondents.

Stainless Steel - Hot Rolled Wide Coil - Grades 304 and 316 in standard widths and finish. Thickness:- 3-12mm (except USA at 0.125 to 0.5 inches).

Stainless Steel - Hot Rolled Quarto Plate - Grades 304 and 316 in standard widths, length and finish. Thickness:- 13mm and above (except USA at 0.5 inches and above).

Stainless Steel - Cold Rolled Wide Coils - Grades 304, 316 standard widths. Thickness:- 2mm (except USA at 0.10 inches). Finish:- 304-316 - 2B all countries.

Stainless Steel - Bright Drawn Bar - Grades 304 and 316: Diameter:- 25mm (except USA at 1 inch).

PRICE DEFINITIONS - STAINLESS STEEL

All prices relate to those to be paid by consumers and stockholders for prime material, ex mill. Prices are for regular business between customers and their local steel mills negotiated during the month for delivery in the short/medium term. Delivery charges and local taxes are excluded. Contract deals arranged in the domestic market or special negotiations for quantities of imported material are also excluded.

Transaction Price is the total amount to be paid for the specified product - including alloy surcharges or alloy adjustment factor (if applicable).

Composite prices are a weighted average of the low transaction values for all grade 304 stainless steel products in the flat & long categories identified in three regions (EU, Asia, and North America), converted into US Dollars using currency exchange rates effective at the start of each month to provide a basis for comparisons. Index is based on April 1997 = 100.

Steel transaction prices are also available for USA, China, Japan, South Korea, Taiwan, Germany, France, Italy, UK, Spain, Sweden, Netherlands and Denmark in MEPS Stainless Steel Review