The Steel Index has announced the launch of a new hot rolled coil index for ASEAN imports.

TSI's HRC reference price for ASEAN imports is based on transaction data submitted to TSI by buyers and sellers active in the region, applying the same rigorous methodology used for compiling TSI's other 22 steel reference prices around the world, it is reported in USD per tonne, CFR Singapore port.

Mr Terry Chuay, TSI's manager for the region, said that this launch is another great milestone in fulfilling TSI's mission to provide the steel supply chain with a full suite of robust price indices.

He added that "Given the volatility of steel prices in today's market, this ASEAN steel index gives producers, traders and end users the information they need to buy and sell coil in this region with confidence."