The pages can be found from the homepage’s top menu under “Metal Prices.”
As of this month, visitors to these pages can now find a modified, interactive price chart modeling the LME three-month price against the MetalMiner Monthly Outlook forecast track record and including MetalMiner buy signals.
“The main idea here is to showcase savings we can make for our customers if they use our Monthly Outlook,” said Marcos Briones Alvarez, MetalMiner’s procurement forecasting data analyst.
Particularly in a time of considerable volatility, it’s important to stay abreast of what’s going on in metals markets, from capacity developments to pertinent trade news to price drivers.
Metals buying organization can generate savings year-round by subscribing to the MetalMiner Monthly Metal Outlook.
In addition, on a weekly basis the pages will feature updated “should-cost” metals prices by grade, width, gauge, etc.
In short, what “should” something — 5052 aluminum sheet, for example — cost?
“Many competitors publish the LME three-month price along with the MW premium,” MetalMiner CEO and Executive Editor Lisa Reisman notes. “Few, if any, publish the conversion adder based upon grade, gauge, width etc. The MetalMiner aluminum should-cost model provides a level of granularity not previously available in the marketplace. In addition, the aluminum model can be used by global market participants vs. only North American companies.”
Similarly, the new-look carbon steel page also differentiates itself from other offerings.
“All of the published price mechanisms currently available in the market involve the ‘base’ price (e.g., the HRC or the CRC number),” Reisman added. “However, no price index exists to see the total price computed with the base metal, plus all of the adders and extras at the grade level.”
The should-cost metal offers buyers additional granularity in the form of pricing by mill. In short, industrial buying organizations can arm themselves with the necessary knowledge to get the best possible deal (a topic we cover in our dedicated best practice library).
“Moreover, the MetalMiner carbon steel should-cost model allows the buying organization to quickly see which mill charges what price for each adder and extra,” Reisman continued. “So, in addition to providing a total price, the capability allows the buying organization to make a sourcing award decision by mill.”
Last but not least, the revamped stainless steel page also offers something no one else does.
“There is currently no North American stainless steel price index or mechanism for any buying organization to either: a) negotiate with suppliers or b) establish as a contracting mechanism,” Reisman added.
So what, exactly, makes the MetalMiner stainless steel should-cost model so unique?
“The stainless steel should-cost model provides the buying organization with visibility into all of the elements comprising total cost at the grade level (e.g., 304, 201, 439, etc.),” Reisman said.
Those elements can be broken as such: base price+width/gauge adders+finish+CTL (cut to length)+vinyl adders.