Independent Steel, Scrap and Iron Ore Prices, based on actual transactions

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The Steel Index is the leading provider of independent price information for key steel, scrap and iron ore products around the world, based on actual transactions.

It is a neutral, independent operation that collates steel, scrap and iron ore price data for clearly specified products, using secure web-based technology, then calculates and reports weekly steel and scrap reference prices and daily iron ore reference prices.

Steel price data is collected from companies involved throughout the steel, scrap and iron ore supply chains (Data Providers) using secure web-based technology that allows them to input price data on a confidential basis.  This offers significant advantages over traditional 'telephone polling' approaches: it is fast, secure, verifiable and enables Data Providers all over the world to submit data at their convenience.

Reference Prices are then calculated from this data on a weekly basis using rigorous, transparent and verifiable procedures. 

  

The Steel Index's robust and verifiable methodology lays the foundation for the emergence of steel, scrap and iron ore price risk management tools. The Steel Index reference prices could provide the necessary settlement prices for futures contracts and other financial market products.  This opens the door to the development of an extensive range of price risk management tools to help steel buyers and sellers handle steel price volatility.

The Steel Index was officially launched on 25 April 2006. On 1 July 2011 it was purchased by Platts, a division of the McGraw Hill Companies Inc.  

For more information on Platts and McGraw Hill, please visit their website at: www.platts.com.  The Steel Index is run as a completely separate operation to Platts' journalistic and other pricing activities.