Terms and Conditions

These Terms and Conditions govern your use of SteelMint and the services provided by it. SteelMint provides its services subject to the following terms, conditions, and provisions. By accessing, viewing, or using its services, including but not limited to its various websites, SMS, APIs, email notifications, applications, buttons, widgets, and ads etc. you indicate that you understand these Terms and Conditions and accept them as the legal equivalent of a signed, written contract, binding you to these Terms and Conditions. 

 

Your participation as a customer in this service will constitute acceptance of this agreement.

 

THIS SERVICE AGREEMENT (this “Agreement”) is entered into by and between SteelMint Info Services LLP (“SteelMint”) and its Customer (“Subscriber”). It constitutes understanding by the Subscriber of the Methodology and Price Assessment Process (Annexure A) used by SteelMint in providing its services. 

 

WHEREAS, SteelMint Info Services LLP (“SteelMint”) is a Limited Liability Partnership, which owns and operates the following websites:

  1. https://www.steelmint.com
  2. http://www.coalmint.com
  3. http://events.steelmintgroup.com

 

WHEREAS, SteelMint is a third party data aggregator for iron and steel sector having its registered office at #301, Jeevan Parisar, Rajeev Nagar, Raipur 492007, Chhattisgarh. It collects information and data in context to prices, exports and imports, and production from varied sources based in India and outside India. Its objective is to conduct transparent and unbiased data analysis and research in order to help its clients make an informed decision.

 

WHEREAS, the Subscriber is any entity or person which subscribes to the services provided by SteelMint, either online or through SMS, or any other mode that the parties may agree.

 

NOW, THEREFORE, the parties hereby agree as follows:

 

What we do not do

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

 

A foreword on SteelMint Price Assessment Processes and Methodologies

 

SteelMint’s definition of “price assessment”

 “Price assessment”, according to SteelMint is the market value it publishes for particular commodities. SteelMint’s 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 personal meetings.

 

For what commodities does SteelMint provide price assessments?

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.

 

How does SteelMint develop price assessments?

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.

 

Which market participants are included in SteelMint assessment process?

 

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.

 

What is methodology and why is it important?

 

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.

Is there a standard methodology across all commodities and regions that SteelMint follows?

SteelMint’s 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.

 

Is SteelMint able to publish a daily price assessment if no transactions actually occur?

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.

 

Does SteelMint review the companies that supply data to its price assessment processes?

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.

 

Does SteelMint ever reject information in its price assessment processes?

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.

 

Can SteelMint stop companies from trading?

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.

 

How does SteelMint protect the integrity of its processes and price assessments?

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.

 

Do global regulatory bodies or governments oversee SteelMint price assessment processes?

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.

 

Does SteelMint have a compliance function or body to oversee its price assessment processes?

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.

 

How are SteelMint price assessments used?

SteelMint’s 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.