NEW YORK, Sept. 10 /Xinhua-PRNewswire/ --
Platts, a division of The McGraw-Hill Companies (NYSE: MHP) and a leading global provider of energy and metals information, today began publishing a dozen new daily price assessments of steel product and scrap in Steel Markets Daily, one of its 70 core global news and pricing products.
Platts' Steel Markets Daily provides readers worldwide with price benchmarks, news, and market commentary on steel, one of the world's most strategic commodities. In addition to its original hot-rolled coil and rebar steel-product prices, Steel Markets Daily is now publishing:
-- Five cold-rolled coil prices. In Europe: ex-works Ruhr, Germany; CIF
Port of Antwerp, Belgium; and FOB Ports of the Black Sea region (inland
sea between Europe and Turkey); and in the US: ex-works Indiana; and
CIF Port of Houston, Texas. (Note: CIF is cost, insurance and freight;
FOB is free on board. Ex-works signifies direct from the mill.)
-- Four plate prices. In Europe: ex-works Ruhr; CIF Antwerp; and in the US:
ex-works Southeast (Southeastern coastal ports); and CIF Houston.
-- Three ferrous scrap prices. In Europe: heavy melting scrap, FOB Port of
Rotterdam, Netherlands and FOB Black Sea; and in the US: shredded scrap,
delivered to Midwest mills.
Platts began publishing daily steel prices on January 29 to meet industry demand for more reliable and transparent price information.
"Now that we've established our dependable history of daily prices for nearly nine months, the steel industry has let us know it welcomes more product prices based on the Platts unique methodology," said Francis Browne, director of steel, Platts-London. "We're pleased that Platts' steel prices are being recognized for their independence and reliability."
Since May, a monthly summary of Steel Markets Daily prices has appeared on the web site for the Steel Buyers Forum of the Institute for Supply Management. SteelFacts, an exclusive distributor of American Iron and Steel Institute (AISI) iron and steel industry statistics -- none of which data relate to prices -- also features monthly summaries as part of a Platts Steel Markets Daily partnership.
"Our clear-cut strength is that we're actively engaged with steel market participants every day and we publish daily prices -- unlike all other steel benchmark pricing, which is far less frequent, or automated," Browne said.
Steel reinforcing bar, or rebar, is used throughout the construction industry to strengthen concrete. Hot-rolled coil, the most widely produced flat-rolled steel, is used in durable/consumer goods manufacturing and construction. Cold-rolled coil, another flat-rolled steel, is used in the appliance and automotive sectors among others. Steel plate is used in highway, bridge and other-construction projects, as well as shipbuilding. Ferrous scrap, or scrap steel, is used as a raw material in melting furnaces in the conversion of old steel products into recycled new steel products.
About Platts:
Platts, a division of The McGraw-Hill Companies (NYSE: MHP), is a leading global provider of energy and metals information. With nearly a century of business experience, Platts serves customers across more than 150 countries. From 14 offices worldwide, Platts serves the oil, natural gas, electricity, nuclear power, coal, emissions, petrochemical and metals markets. Platts' real time news, pricing, analytical services, and conferences help markets operate with transparency and efficiency. Traders, risk managers, analysts, and industry leaders depend upon Platts to help them make better trading and investment decisions. Additional information is available at http://www.platts.com .
About The McGraw-Hill Companies:
Founded in 1888, The McGraw-Hill Companies (NYSE: MHP) is a leading global information services provider meeting worldwide needs in the financial services, education and business information markets through leading brands such as Standard & Poor's, McGraw-Hill Education, BusinessWeek and J.D. Power and Associates. The Corporation has more than 280 offices in 40 countries. Sales in 2006 were $6.3 billion. Additional information is available at http://www.mcgraw-hill.com .
