A strange thing happened when we at MetalMiner began examining registrants to our new global metals pricing index, MetalMiner IndX SM. A number of oil and gas, petrochemical and energy concerns all registeredsome with seemingly no products in their portfolio containing metal. So we made a few phone calls to better understand why all these global corporations had signed up to use the IndXSM. Their responses surprised us. Several of these firms indicated the need to take a far more strategic look at the material elements of their large Major Capital Projects, (MCP) and MRO turnarounds for e.g. ethylene crackers, furnace equipment repairs etc. And in particular, they needed a better understanding of the metal costs which often represent tens of millions of dollars for each project.
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