CRU's leading HRC index successfully completes an independent audit of its data providers

Consistent with CRU’s commitment to accuracy and continuous improvement, another independent audit of CRU’s HRC data providers has been completed.

This latest audit was carried out by independent professional services company PricewaterhouseCoopers LLP (PwC). It has demonstrated CRU’s, and our data providers’, commitment to reinforcing the integrity and quality of the industry’s HRC price index.

Results indicate that the integrity of the index is strong, with overall compliance with required methodology and definitions. Data providers had a strong understanding of the importance of following clear specifications, and reporting in a consistent manner. Nevertheless, there are areas CRU wants to take forward with data providers and the market at large and we reaffirm our commitment to providing the very best service to this important industry.

We are committed to underpinning, supporting and maintaining the integrity and quality of the industry’s leading HRC price index. Completing this latest independent audit does just that and has reconfirmed the integrity of the price.” CRU CEO David Trafford said.

David Trafford Chief Executive Officer

“While CRU has processes that follow IOSCO Principles, we go further than that when it comes to our US Midwest HRC price - CRU is the only PRA to audit its data providers using a third-party audit firm. As you might expect, a rigorous approach was developed, including questionnaire, site visits and inspection of evidence.” CRU’s Compliance Lead Claire Ballak added.

For more details on the audit findings, please contact compliance@crugroup.com.

To learn more about CRU’s US Midwest and other North American prices, or to become a CRU data provider, please contact estelle.tran@crugroup.com.

For more information on CRU’s price, analysis and forecasting services and how they can help your business, please visit contact aaron.pollock@crugroup.com.