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Frequently Asked Questions 1.) What is the difference between The Steel Index and other reference price services available?
The Steel Index provides the only weekly reference prices available that are compiled from price data based on actual industry transactions. This data is submitted confidentially by pre-registered companies every week through secure web forms – rather than being collected by telephone interviews which are open to influence and possible manipulation. The collection and calculation procedures are completely transparent making The Steel Index reference prices fully verifiable. The weekly reference prices published are precise (not ranges), for clearly specified products and are compiled on a volume-weighted basis, making them more representative of the market conditions than non-weighted indices. 2.) Why can’t I find prices for before April 2006?
The Steel Index was launched in April 2006, so this is the earliest price information available. For consistency it is not appropriate to combine the prices compiled using The Steel Index’s rigorous methodology with prices compiled by other less robust approaches. 3.) I cannot find the product I am interested in. Does this mean it is not covered by The Steel Index?
To see the current range of products covered, visit the Price Specifications section or click here. If the product you are interested in is not included here, there is a chance it may be included in The Steel Index in the near future. Email us to find out. This depends on the area and the product. A) For Steel: For Europe, the prices are ex-works. For North America FOB US MidWest mill and for Chinese exports FOB stowed China port. B) For Iron Ore: The Prices are CFR Tianjin port (China). 5.) Are The Steel Index prices spot market prices?
Yes. The Steel Index collects only spot market price information between different companies, not inter-company transfers or contract prices. For this reason we have focused on products such as HRC, plate and rebar where the freely-traded market is highly liquid, rather than products such as slab where there is a high proportion of contract or transfer business. 6.) Which are the currencies of The Steel Index Prices?
Reference prices for each region are compiled in the currency used in that region. In addition, The Steel Index website offers subscribers the capability to view index prices in USD($), EUR(€), GBP(£) or CNY (RMB) at the click of a button. 7.) Does The Steel Index offer price forecasts?
No. The Steel Index deals only with current and historical price information, because the data compiled is based on actual transactions. However, the reference prices compiled by The Steel Index can be used as the settlement prices for forward contracts where brokers or exchanges offer forward price curves for financial transactions. 8.) For which period is price data collected?
Steel prices are collected from Monday-Sunday, with the average weekly reference prices published on the following Tuesday morning. Iron ore prices are collected and published daily. 9.) How do I receive the The Steel Index reference prices?
Subscribers receive the steel reference prices by email every Tuesday and the iron ore reference prices every Friday. Subscribers can also view the full price archive at any time on The Steel Index website. 10.) How many companies contribute data to The Steel Index?
Over 450 companies have signed agreements with The Steel Index to provide prices via confidential web forms. The number continues to grow over time. These companies include steel mills, traders, service centres, fabricators, end-users of steel products and iron ore miners. 11.) How are The Steel Index prices calculated?
The reference prices for each product/region are calculated as the volume-weighted average of the price data points submitted, once outliers have been excluded. To find out more, please visit our Procedures & Methodology section or click hereAll our price information is obtained through a broad group of companies that have agreed to submit price data based on actual transactions. The 'data provider group' includes mills, traders, stockholders, fabricators, end-users and iron ore miners in all relevant regions. Each week data providers submit price and other data related to actual transactions via confidential web forms. 13.) For which products and regions does The Steel Index provide reference prices?
To see the products and regions, visit our Reference price specifications section or click here. Northern Europe is classified as Belgium, France, Germany, Luxembourg and The Netherlands. Southern Europe is classified as Austria, Italy, Portugal, Spain and Switzerland. This definition of Northern and Southern Europe defines the region for which the The Steel Index reference prices apply, not the region where The Steel Index Data Providers are based. TSI's daily iron reference prices are published on every UK business day. This consists of Monday-Friday every week, excluding UK public holidays. The UK public holidays over the next 2 years are: 2010: 1 Jan, 2 Apr, 5 Apr, 3 May, 31 May, 30 Aug, 27 Dec, 28 Dec
2011: 3 Jan, 22 Apr, 25 Apr, 2 May, 30 May, 29 Aug, 26 Dec, 27 Dec No other organisations provide weekly steel or iron ore price information using the rigorous approach of The Steel Index, but for a wide range of monthly price information collected by telephone interview we would recommend Steel Business Briefing ( www.steelbb.com) |
