If a price wasn’t updated recently, what should I assume about the current price? You can assume that the price in the system is the most recent price available in the local market. On occasion, available prices are not updated due to local or national holidays. Also, certain minor metals are only published weekly or monthly.
Where are prices from the U.S.? Why doesn’t this index contain American data? Many U.S. prices are widely available via other subscription sites. MetalMiner IndXSM currently covers global market pricing. However, there are some American price points, including copper producer price and minor metals such as molybdenum. We are looking to add additional US price points for the broad range of industrial metals. The next version of MetalMiner IndXSM will contain U.S. precious metal pricing.
Why does this include information that I can find for free elsewhere, such as LME data? We felt the inclusion of this data would make it easier for users to compare metals traded on futures markets in multiple countries.
How is the data validated and entered? How do you guarantee the quality of the source? Data is taken from multiple sources in-country and the prices are translated and entered via a two-part entry system. One entry is made in-country, and the second is validated by our QA office in the UK. Other data is made available via local publications. MetalMiner IndXSM spiders these sites and posts the Asian closing price for Western markets the following morning before 8:00am CST. To date, our sources are published locally in the local language. Later versions will include our own polls of producers by category.
What makes this information exclusive? How can I trust it? MetalMiner IndXSM is the only site that aggregates the full range of industrial metals from multiple countries. All of our information is verified and double checked prior to publication.
How can I use this data to negotiate with my suppliers? If your suppliers ask for a price increase due to raw material costs, you can monitor those price movements on MetalMiner IndXSM to see if they are justified. Likewise by monitoring price movements in the other direction, you can request price decreases from your suppliers. Our services can also be used as part of the contracting process.
How much does MetalMiner IndXSM cost, and what does this fee cover? This trial version is absolutely free and will remain free. This covers unlimited access to all of the pricing within the system, including China, India and Japan, along with minor metals, precious metals, and U.S. copper producer pricing.
What is the difference between types of subscriptions? At the moment, there is only one, “free” subscription. The next version of the application will contain additional countries, features and enhancements. The premium subscription offering, in addition to containing more information, will also provide more seats or authorized passwords and IDs, historical charting and eventually forecasting capability.
What future features do you plan to implement? The very next version will contain historical charting and alerting. It will also contain additional countries, specifically Mexico and Korea, and more global pricing for precious metals. In-depth country specific metal reports will also be made available. Next year, the service will include more advanced forecasting and charting capabilities.
Will there be more metals or sources added? Can I request particular metals/sources, or certain additions and features? We will continue to seek new metals, as well as more types, grades and forms of metals to expand our offerings. Additional sources are most definitely part of the product road map. These countries will include Mexico, Korea and South Africa. Later versions will contain pricing from Canada, Germany, Taiwan, Chile, UK, Russia and Brazil. We would welcome suggestions for additional metals, although we can’t guarantee their inclusion.
How do I connect to the index? Do I need a username and password? Can I share this password? You need to click on the link MetalMiner IndXSMand enter your user name and password. Your username and password are automatically generated after your payment has been processed. Your password entitles your firm to one seat and therefore should not be shared.
Similarly, can multiple people from my company access my subscription? Yes, multiple people from your company can access their own subscription by registering for free.
Can I compare past prices for a long-term outlook? Is there an archive feature?
Archives, charting and historical charting will be available in the next release, since we need to build enough history to make that capability meaningful.
Can I access the index from any location? Will it work on any computer? Have browser, will travel. The tool will work on any internet browser.
There are drastic price differences between the same products in different countries. Why is this?
There are several reasons why the price of a metal in one country could be totally different from the price of that same item in another country. These factors could include country-specific export taxes, VAT rebate rates and tariffs. Also, prices are posted in different countries for different gauges, which also results in varying prices. Some countries are net importers of various metals, and others are exporters. A much higher price in one market over another may suggest that the first country is importing product. This should highlight further opportunities for the purchasing manager.
Some of the metals that I source are getting too expensive. I would like to see how substitutes stack up against my current product. Is this information available?
As long as you know what material you are looking for, just look it up. If there are specific metals/country sources that you would like to see, please drop us a line!
I see the price from one country is cheaper than the prices where I currently source. How do I get started in sourcing from the different country? How do I know who to contact, or if it would be worthwhile for me?
MetalMiner IndXSM in its current form only shows the pricing, not the names of various producers. If you are interested in working with an experienced global sourcing team, please feel free to contact us at 773.525.9750 or email firstname.lastname@example.org Our company, Aptium Global Inc., specializes in global metals sourcing.