NEW YORK, Sept. 10 /CNW/ -- Platts, a division of The McGraw-Hill
Companies (NYSE: MHP) and a leading global provider of energy and metals
information, today began publishing a dozen new daily price assessments of
steel product and scrap in Steel Markets Daily, one of its 70 core global news
and pricing products.
Platts' Steel Markets Daily provides readers worldwide with price
benchmarks, news, and market commentary on steel, one of the world's most
strategic commodities. In addition to its original hot-rolled coil and rebar
steel-product prices, Steel Markets Daily is now publishing:
-- Five cold-rolled coil prices. In Europe: ex-works Ruhr, Germany; CIF
Port of Antwerp, Belgium; and FOB Ports of the Black Sea region
(inland sea between Europe and Turkey); and in the US: ex-works
Indiana; and CIF Port of Houston, Texas. (Note: CIF is cost, insurance
and freight; FOB is free on board. Ex-works signifies direct from the
-- Four plate prices. In Europe: ex-works Ruhr; CIF Antwerp; and in the
US: ex-works Southeast (Southeastern coastal ports); and CIF Houston.
-- Three ferrous scrap prices. In Europe: heavy melting scrap, FOB Port
of Rotterdam, Netherlands and FOB Black Sea; and in the US: shredded
scrap, delivered to Midwest mills.
Platts began publishing daily steel prices on January 29 to meet industry
demand for more reliable and transparent price information.
"Now that we've established our dependable history of daily prices for
nearly nine months, the steel industry has let us know it welcomes more
product prices based on the Platts unique methodology," said Francis Browne,
director of steel, Platts-London. "We're pleased that Platts' steel prices are
being recognized for their independence and reliability."
Since May, a monthly summary of Steel Markets Daily prices has appeared
on the web site for the Steel Buyers Forum of the Institute for Supply
Management. SteelFacts, an exclusive distributor of American Iron and Steel
Institute (AISI) iron and steel industry statistics -- none of which data
relate to prices -- also features monthly summaries as part of a Platts Steel
Markets Daily partnership.
"Our clear-cut strength is that we're actively engaged with steel market
participants every day and we publish daily prices - unlike all other steel
benchmark pricing, which is far less frequent, or automated," Browne said.
Steel reinforcing bar, or rebar, is used throughout the construction
industry to strengthen concrete. Hot-rolled coil, the most widely produced
flat-rolled steel, is used in durable/consumer goods manufacturing and
construction. Cold-rolled coil, another flat-rolled steel, is used in the
appliance and automotive sectors among others. Steel plate is used in highway,
bridge and other-construction projects, as well as shipbuilding. Ferrous
scrap, or scrap steel, is used as a raw material in melting furnaces in the
conversion of old steel products into recycled new steel products.
Platts, a division of The McGraw-Hill Companies (NYSE: MHP), is a leading
global provider of energy and metals information. With nearly a century of
business experience, Platts serves customers across more than 150 countries.
From 14 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
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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.
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For further information:
For further information: Kathleen Tanzy 212-904-2860
Kathleen_tanzy@platts.com Asia: Casey Yew +65 653 06552 Casey_yew@platts.com
Europe: Shiona Ramage +44207 1766153 Shiona_ramage@platts.com Web Site: