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A foreword on SteelMint Price Assessment Processes and Methodologies

SteelMint group is a third party data aggregator for iron and steel sector having registered office in Raipur (Chhattisgarh), India. We collect information and data in context to prices, exports, imports, production from varied sources based in India and outside India. Our objective is to conduct transparent and unbiased data analysis and research in order to help our clients to take informed decision.

Our Methodology
We have a qualified team of researchers & analysts who are management/finance graduates and engineers, who collects this data from various sources (manufacturers, buyers and traders, exporters, importers) on the basis of firm bids, firm offers or transaction prices through calls, emails or on whats app. Communications are recorded for future reference. We follow SOP (system operational procedure) to aggregate and process these data. The Company is consistently working on its systems to make it more strong and process oriented, rather than people oriented.

Our terms and conditions clearly state that all the prices are indicative and should be used for reference purpose only. SteelMint does not cohere, recommend or advise  anyone of its client to trade on these prices.

What we do not do
We are not an adviser. We do not indulge in any kind of trading activities nor we recommend any contact of manufacturers, traders or brokers to any of our clients.

 “Price assessment”, according to SteelMint is the market value it publishes for particular commodities. SteelMint price assessments are developed by collecting and analyzing trading data received from market participants including manufacturers, buyers and other trade participants through calls, mails, VOIP messages and meeting personally.

SteelMint provides price assessment for commodities relating to iron and steel industry including iron ore, coal, pellets, ferrous scrap, mill scale, sponge iron, pig iron, ingot/billet, rebar, structures, wire, pipe, HRC, CRC, HR plate, GP, silico manganese, ferro manganese, ferro chrome, ferro silicon, chrome ore, manganese ore, etc.

SteelMint has a team of market analysts, reporters and editors who are well experienced and trained in research methodology and are also responsible for monitoring markets, analyzing data, etc. The data is collected from market participants including commodity producers, consumers, transporters, processors, storage facilities, traders, brokers, and others. SteelMint editors analyze the market data (i.e. bids, offers and trades) with respect to guidelines and then publish assessments.

SteelMint sources data from industry participants whose information is considered indicative of market value. Participation in SteelMint price assessment processes is voluntary. It is indicative of the participants’ belief that price discovery strongly benefits functioning of commodity markets.

The term is a defined set of guidelines to produce consistent quality in a price assessment. Specific and well-defined methodologies are integral to SteelMint’s price assessment processes. SteelMint adopts a system operational procedure (SOP) module which is technically sound and helps better assessment of prices. SteelMint’s endeavor has always been to adopt technology as a core part of its function. Company keeps on innovating different methodology of price discovery which are globally accepted.

SteelMint price assessments follow the basic channel that is well-defined processes, strict compliance with editorial standards, being independent and impartial and use of editorial judgment. However, the methodology will vary by commodity. SteelMint has a standard methodology to each commodity market, based on the market’s status, frequency of trading, typical volatility and seasonal tendencies, among many other factors. Price is a function of time, yields the tradable value of the commodity at a given point in time, typically at the end of the trading day SteelMint has increasingly used the principle of market focused time frame for its price assessments; as the commodity markets have become more volatile. SteelMint assessments can be easily used for cross-commodity price comparisons.

SteelMint editors aim to reflect confirmed trades first and foremost. In the absence of actual trades in its price assessment processes, SteelMint reporters may consider firm bids and offers at the end of the trading day as useful information reflecting the price at which a commodity could have traded. SteelMint editors also may look at intra- and inter-market spreads as useful information on market value.

Yes. As part of its standard editorial practice to maintain the integrity of the price assessments and the quality of information it publishes, SteelMint on regular basis reviews the companies that provide that data. Reviews are conducted on a regular basis and may take into consideration a number of factors, including, but not limited to, adherence to SteelMint editorial guidelines, operational and logistical specifications and counterparty acceptance. SteelMint does not disclose the nature or scope of these routine reviews.

Yes. To maintain the integrity of its price assessment processes and price assessments, SteelMint only includes information that it deems to be of appropriate quality – that is, data that reflects bona fide transactions and market value. SteelMint maintains the right to disallow any data that does not reflect the market, does not meet its methodology or quality protocols, or is in question for any reason.

No. Trading is conducted between buyer and seller in the open marketplace. SteelMint activities are confined to its price assessment processes and the assessments those processes produce.

SteelMint uses methodologies with the goal of publishing price assessments indicative of market value. SteelMint may choose not to use inputs that are not verifiable or may distort the true market level.

SteelMint operates independently and impartially. SteelMint is in touch with government entities and policy-makers for the purpose of cross referencing of data but is not directly or indirectly regulated by any domestic or international government body.

SteelMint functions on a multi level check system and employ an internal compliance body. The compliance department is independent performs continuous reviews of the price reporting work in order to ensure adherence to methodologies and editorial standards.

SteelMint clients use its price assessments for various purposes. Market participant regularly use SteelMint prices as a basis for pricing spot transactions and term contracts while analysts use them to identify trends and patterns in supply and demand. And also use them as reference to place a market value on the commodities. 

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Disclaimer: SteelMint has taken due care and caution in compilation of content for its web site. Information is just for reference not intended for trading purpose or to address your particular requirement. The content includes facts, views, and opinions are of individuals and not that of the website or its management. We and our content licensors are not giving investment advice, tax advice, legal advice, or other professional advice. We and our content licensors do not guarantee or warrant the accuracy, completeness or timeliness of, or otherwise endorse these views, and opinions.
Users/Visitors have to make their own decisions based on their own independent enquiries, appraisals, judgement, wisdom and risks. SteelMint and its affiliates, or their employees, directors or agents shall not be liable or responsible for any loss or costs or any action whatsoever arising out of use or relying on the spot prices disseminated.

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