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BC-Platts-metal-pricing
To: BUSINESS EDITORS
Contact: Kathleen Tanzy, +1-212-904-2860, Kathleen_tanzy@platts.com, or
Europe, Shiona Ramage, +44-207-176-6153, or Asia, Casey Yew, +65-653-06552
LONDON, May 15 /PRNewswire/ -- Platts, one of the world's foremost
providers of energy and metals information, today announced it is expanding
its suite of spot price assessments in global metals to include steel exported
from China, specifically hot-rolled coil (HRC) and concrete reinforcing bar
(rebar).
"We're pleased we can answer the steel industry's call for a reliable
source of timely, transparent and independent steel price information from
Asia as well as provide the financial industry with an additional price series
to help anticipate economic activity and price trends," said Platts Global
Director of Steel Francis Browne.
The new Asia price series expands Platts' coverage of steel and scrap
product prices from 21 to 23, and better equips industry and other metals
market observers with a more complete data series for more comprehensive
analysis of spot metals prices globally.
The assessments are generated from the free-on-board (FOB) value of key
internationally traded steel products HRC and rebar, and recognize China's
important participation in the world's markets for these products. HRC is
widely used for construction, appliance and automotive purposes. Rebar is used
in the construction of such things as buildings, roads and bridges.
Platts Steel Markets Daily is an online and print publication containing
news, market commentary and price information aimed at the steel,
construction, and auto industries as well as commodities-focused money
managers worldwide. The publication is one of five Platts products directed at
the broader metals industry. Platts has reported on the broader supply and
demand fundamentals of the metals markets for 30 years, drawing on the
tradition of its parent company, The McGraw-Hill Companies, which has covered
the metals market for more than 75 years.
Platts' price assessment methodology in steel was developed in
consultation with a cross section of key industry players and draws upon
Platts' century of experience in benchmark price reporting in the energy
markets. For more information about the Platts price assessment process visit
http://www.platts.com.
About Platts:
Platts, a division of The McGraw-Hill Companies (NYSE: MHP), is a leading
global provider of energy and commodities information. With nearly a century
of business experience, Platts serves customers across more than 150
countries. From 17 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 2007 were $6.8 billion. Additional information is available at
http://www.mcgraw-hill.com.
SOURCE Platts
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