Terms and Conditions
Disclaimer - “Pursuant to transfer of business from SteelMint Info Services LLP to BigMint Technologies Private Limited, having its registered office at Flat no-302 Jeevan Parisar, Rajeev Nagar, Raipur, Chhattisgarh, 492001 India, with effect from 31st day of March, 2021, BigMint Technologies Private Limited will manage the Website or Mobile Application and provide the services to its user. BigMint Technologies Private Limited will exercise all rights and perform obligations as if BigMint Technologies Private Limited were providing the services originally.”
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 BigMint Technologies Private Limited (“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, BigMint Technologies Private Limited (“SteelMint”) is a Limited Liability Partnership, which owns and operates the following websites:
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:
1. FORMATION OF THE CONTRACT
- The process of registration or subscription to SteelMint’s services shall conclude upon receipt of the requisite subscription charges, as prevalent, at the time of such registration. A Contract with the Subscriber for receipt of the services pursuant to subscription to SteelMint’s services will come into effect when SteelMint sends the Subscriber, an email or SMS/Mobile Notification, confirming the Subscriber’s subscription details and not before.
- Unless otherwise agreed in writing, SteelMint shall charge the Subscribereither in US Dollars or in Indian Rupee. The Subscriber shall also pay any taxes, as applicable, levied under any applicable law.
- The Subscription Price is set out in the webpage on SteelMint’swebsite, which mentions the Subscription Process. The Subscriber may take an annual subscription, which will not berenewed automatically. SteelMint will notify the Subscriber15 days in advance regarding the expiry of its subscription along with the prevailing Subscription Price. The Subscriber then, will have to manually renew the subscription by payment of the Subscription Fee for the extended period. The Subscriber shall remain informed that its Internet Service Provider and/or telephone operator may separately charge it for the time spent accessing SteelMint’swebsite in the manner agreed between the Subscriber and its Internet Service Provider.
- The Subscriber warrants that it is legally capable of entering into binding contracts.
- The Subscriber warrants that the registration is for a single user only, unless SteelMint agrees otherwise in writing.
- The Subscriber further warrants that all the information provided to SteelMint during the registration process is true and accurate. If the Subscriber provides SteelMint with an e-mail address, that will result in e-mails or SMS/Mobile Notifications that SteelMint sends to the Subscriber via a computer or telephone network operated or owned by a third party, then, the Subscriber warrants that the Subscriber is entitled to receive those messages. SteelMint allows the Subscriber access to the subscription services on the basis that:
- The Subscriber’s user name and password are personal to it and may not be used by anyone else;
- The Subscriber will not do anything which would assist anyone who is not a registered user to gain access to any registration area of SteelMint’s website;
- The Subscriber does not maliciously create additional usernames for the purpose of abusing the functionality of SteelMint’swebsite, or other users; nor does it seek to pass itself off as another user by adopting a similar username;
- If for any reason, SteelMintcomes to believe that the Subscriber has not complied with these requirements or any other provision of these Terms, SteelMint may, at its discretion, cancel the Subscriber’s access to the Subscription Services. If SteelMintdecides to terminate the Subscriber’sregistration, it shall do so by emailing the Subscriber at its registered address stating that its registration has been terminated. Pursuant thereto, the Subscriber’s username and password will become invalid immediately.
3. NON-CONFLICT OF INTEREST
SteelMint expressly reserves the right to contract with others to provide services similar or identical to those provided under this Agreement to the Subscriber, however, the Subscriber shall not share any information regarding the services with SteelMint’s competitors during the term of this Agreement, and one (1) year thereafter.
4. COPYRIGHT AND LIMITATIONS ON USE
- The Content displayed or received by the Subscriber through the subscription to SteelMint’sservices is the property of SteelMint or its licensors, and is protected by Copyright and other Intellectual Property Laws. SteelMint’swebsite and the Content may be used only for the Subscriber’s personal and non-commercial use. Reproduction of part or all of the Contents of SteelMint’swebsite in any form is expressly prohibited. Access to the information on SteelMint’swebsite shall in no manner imply any right or permission to copy, or allow for incorporation of any material, or any part therein, in any work or publication not limited to any other form. By accessing SteelMint’s website, the Subscriber agrees that reproduction, printing, re-transmission, copying, distribution, publishing or selling of any Content provided on SteelMint’s website is expressly prohibited. In particular, and without limitation, the Subscriber expressly agrees that it shall not post any Content from SteelMint’s website to any email lists, newsgroups or electronic bulletin boards, without the prior written consent of SteelMint. To request consent for matters, the Subscriber may contact SteelMint at email@example.com. All rights (including Copyright) in relation to the Information/Content on SteelMint’s website exclusively belong to SteelMint. Any violation(s) by the Subscriber or any person acting on its behalf shall subject the Subscriber to legal consequences, not limited to damages, fines/penalties, and any other necessary court action.
- The Subscriber hereby acknowledges that it has subscribed to SteelMint’s website, in order to receive email, SMS, mobile notification of news, information, and understand the Iron & Steel industry, against which it pays a nominal Subscription Fee.
- SteelMint has taken due care and caution in compilation of the Content for its website. The Content includes facts, views, and opinions, which are of individuals and not that of the website or its management. SteelMint and its Content licensors do not give any investment advice, tax advice, legal advice, or other professional advice. SteelMint and its Content licensors do not guarantee or warrant the accuracy, completeness or timeliness of, or otherwise endorse these views, and opinions. SteelMint advises the Subscriber should always seek the assistance of a professional for advice on investments, tax, the law, or other professional matters. SteelMint especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website.
- SteelMint is not responsible for any errors, omissions, or representations on any of its pages or on any links on any of its pages. SteelMint does not endorse in anyway any advertisers on its webpages. SteelMint advises its Subscribers to verify the veracity of all information before undertaking any alliance.
6. PROPRIETARY RIGHTS
- International copyright, database right and other intellectual property rights owned by SteelMint or third party licensors protect SteelMint’s Content. All product and company names and logos mentioned on SteelMint’s website may be trademarks, service marks or trading names of their respective owners, including SteelMint.
- The Subscriber may display the Content to one person electronically on a single computer, download and store one copy of the information in machine readable form, print (but not photocopy) one copy of the information and store such pages for caching purposes only. Except in the case of information the Subscriber has placed on SteelMint’swebsite, the Subscriber may not do any of the following without SteelMint’s prior written consent, or the prior written consent of the owner of the intellectual property rights,as the case may be:
- download, display or store any of the Content otherwise than as permitted above;
- modify, reproduce, transmit, publish, display, copy, distribute, broadcast, adapt, create derivative works of or in any way commercially exploit any of the Content;
- sub-license, rent, lease, transfer or attempt to assign the rights in the Content to any other person, make the materials available on a network, use the information in any manner, or transfer or export the Content or any copies into any country, other than in compliance with these Terms and with applicable laws or allow any other person to use the information other than in accordance with the Terms and the subscription agreement;
- redistribute any of the Content (including using it as part of any library, archive or similar service);
- remove the copyright or trade mark notice(s) from any copies of the Content permitted in accordance with these Terms;
- systematically or regularly download, store or print any of the Content so as to create a database in electronic or paper form; and
- deep link to, frame, spider, harvest or scrape the Content or otherwise access the Content for similar purposes.
7. LINKING SITES
- SteelMint’swebsite or the Content provides links to other Internet sites. SteelMint does not necessarily endorse these sites. SteelMint does not have any control over the content of these sites. If SteelMint receives requests to remove links from itsdatabase and search services, SteelMint reserves the right to address such requests individually, but the general approach that SteelMint takes reflects the following principles:
The databases used in connection with SteelMint’s search services consist of information that has been identified, indexed and compiled through an automated process with no advance review by human beings. Given the enormous volume of information added, deleted, and changed on a frequent basis on SteelMint’swebsite, SteelMint cannot and does not screen anything made available through its search services’ database.
- Please note that in such cases, where the Subscriber refers to the content or information of another website, the resulting legal contract shall be between the Subscriber and that third party website owner, and shall be subject to the terms of that third party website, which they shall advise the Subscriber of themselves. The Subscriber shall carefully review their terms and conditions applying to the transaction. SteelMint shall not be liable for any loss or damage caused or alleged to be caused by or in connection with use of or reliance on any content, goods or services available on or through any third party website.
8. OUR REFUNDS POLICY
- If the Subscriber chooses to cancel the subscription from anytime between its commencement and expiry, the amount received will not be refunded unless:
- it is otherwise agreed upon in writing at the time of the subscription by the Subscriber; or
- if the management at SteelMint deems it fit to refund or reconcile it with other group services.
- Except as stated in clause 8.1 above, the subscription fee shall not be refunded.
- If the service is discontinued by SteelMint, the refund payable amount shall be calculated on pro-rata basis and after deduction tax liabilities like GST/ Service Tax.
The Subscriber shall indemnify, hold harmless and defend SteelMint, its subsidiaries and affiliates, licensors and all its members, directors, officers, employees, agents and representatives, from or against any liabilities, claims, demands, penalties, fines, lawsuits, judgments, losses and expenses (including any direct or indirect consequential losses, loss of profit, loss of reputation and all interest, penalties and legal and other professional costs and expenses) (a) on account of bodily injury, death, or damage to property that results from the fault, negligent act or omission, or willful misconduct, in each case, in connection with this Agreement; (b) resulting in any way from the breach of this Agreement; (c) resulting in any way from any allegation of infringement or misappropriation of any patent, copyright, trade secret, trademark, or other intellectual property right under this Agreement.
- This Agreement shall commence in accordance with Clause 1 and shall (subject to earlier termination pursuant to this Clause) continue from year to year indefinitely, unless the Subscriber fails to renew the subscription under Clause 1.3.
- SteelMint may terminate the subscription at any time by written notice/email to the Subscriber, if the Subscriber commits any breach of any of its obligations mentioned here in these terms or any other applicable conditions.
- Upon termination of this Agreement, the Subscriber shall be liable and continue to be held accountable for any acts or omissions done by it, directly or indirectly, during the term of its subscription to SteelMint’swebsite. The termination of this Agreement shall in no event terminate or prejudice (a) the warranties provided by the Subscriber in Clause 2; (b) the copyright protection and the proprietary rights under Clause 4 and 6; (c) indemnification agreed to in Clause 9; (d) this Clause 10.3; and (e) the agreed law and jurisdiction determined in Clause 27 hereto.
11. WRITTEN COMMUNICATIONS
When using SteelMint’s website, the Subscriber accepts that communication with SteelMint will mainly be electronic. SteelMint will contact the Subscriber by e-mail or provide the Subscriber with information by posting notices on its website. For contractual purposes, the Subscriber agrees to this electronic means of communication and acknowledges that all contracts, notices, information and other communications that SteelMint provides to the Subscriber electronically, comply with any legal requirement that such communications be in writing. The Subscriber agrees that this condition does not affect its statutory rights.
All notices given by the Subscriber to SteelMint must be given to SteelMint at #301, Jeevan Parisar, Rajeev Nagar, Raipur - 492007, Chhattisgarh or be emailed at firstname.lastname@example.org. SteelMint may give notice to the Subscriber on either the e-mail or postal address that the Subscriber provides to SteelMint while registering with it, or in any of the ways specified in Clause 11. Notice will be deemed to be received and properly served immediately when posted on SteelMint’s website, 24 hours after an e-mail is sent, or three days after the date of posting of any letter. In proving the service of any notice, it will be sufficient to prove, in the case of a letter, that such letter was properly addressed, stamped and placed in the post and, in the case of e-mail; that such e-mail was sent to the specified e-mail address of the addressee.
13. TRANSFER OF RIGHTS AND OBLIGATIONS
- This Agreement between the Subscriber and SteelMint shall be binding upon the Subscriber and SteelMint and on their respective successors and assignees.
- The Subscriber may not transfer, assign, charge or otherwise dispose of the Agreement, or any of its rights or obligations arising under it, without SteelMint’s prior written consent.
- SteelMint may transfer, assign, charge, sub-contract or otherwise dispose of the Agreement, or any of its rights or obligations arising under it, at any time during the term of the Agreement.
14. FORCE MAJEURE
- SteelMint shall not be liable or responsible for any failure to perform, or delay in performance of, any of its obligations under the Agreement that is caused by events outside its reasonable control.
- The aforementionedshall include any act or event, non-happening, omission or accident of which is beyond SteelMint’s reasonable control and includes in particular (without limitation) the following:
- strikes, lock-outs or other industrial action;
- civil commotion, riot, invasion, terrorist attack or threat of terrorist attack, war (whether declared or not) or threat or preparation for war;
- fire, explosion, storm, flood, earthquake, subsidence, epidemic or other natural disaster;
- impossibility of the use of public or private telecommunications networks; and
- the acts, decrees, legislation, regulations or restrictions of any government.
- SteelMint’s performance under thisAgreement, or any other Agreement, shall be deemed to be suspended for the period that the Force Majeure Event continues. The parties shall use all their reasonable endeavors to bring the Force Majeure Event to a close or to find a solution by which their obligations under the Agreement may be performed despite the Force Majeure Event. The Subscriber hereby agrees that its subscription tenure will not be extended for such Force Majeure Event.
- No waiver by SteelMint of any of these terms will be effective unless it is expressly stated to be a waiver and is communicated to the Subscriber in writing in accordance with clause 12 above.
If any of these terms or any provisions of the Agreement are determined by any competent authority to be invalid, unlawful or unenforceable to any extent, such term, condition or provision will to that extent be severed from the remaining terms, conditions and provisions which will continue to be valid to the fullest extent permitted by law.
16. ENTIRE AGREEMENT
These terms and any document expressly referred to in them constitute the whole agreement between the parties and supersede all previous discussions, correspondence, negotiations, previous arrangement, understanding or agreement between the parties relating to the subject matter of any Agreement.
17. Steelmint’s RIGHT TO VARY THESE TERMS
- SteelMint shall have the right to revise and amend these terms from time to time.
- The Subscriber agreesto keep regular track of these terms, which are always available on SteelMint’swebsite and agrees that they are binding on the Subscriber. Should the Subscriber, at any time after its subscription, does not agree to any change, then it shall be promptly communicated to SteelMint, and SteelMint then shall, either refund the subscription fee (refund amount to be calculated on pro rata basis) or mutually agree to the variations in these terms (concerning the revised portion) in writing. However, if no such communication is received within 15 days from the date of revisions or amendments in these terms, the Subscriber hereby agrees to abide by the revised terms.
18. JOINTLY DRAFTED
This Agreement shall be deemed to have been jointly drafted by both the parties and, in the event of a dispute, shall not be construed against either party solely for the reason that it has or has not drafted the agreement. Each party acknowledges that it has had the opportunity to consult with a counsel of its own choosing prior to entering into this Agreement.
19. COMPLIANCE WITH LAWS
The parties shall comply with all international, national, state, and local laws, ordinances, rules, regulations and orders applicable to them with respect to their performance of the services and obligations under this Agreement.
20. FURTHER ASSURANCE
The parties shall execute and deliver such further documents and instruments and perform such further acts as may be reasonably required to carry out the intent and purposes of this Agreement.
21. HEADINGS AND CONSTRUCTIONS
The headings of the paragraphs of this Agreement are inserted for convenience only and are not intended to affect its meaning or interpretation. Throughout this Agreement, the singular shall apply to the plural and the plural to the singular, unless the context clearly indicates otherwise.
22. LIMITATION OF LIABILITY
SteelMint shall not be responsible or liable to the Subscriber for consequential, incidental, punitive or special or indirect damages. In no event will, SteelMint’s liability for direct damages, regardless of the form of action, exceed 10% of the amount paid in fees under the applicable subscription model in the last three (3) months preceding the date of the incident giving rise to the action, regardless of whether an action is brought in contract or in tort, including indemnity, negligence, strict liability, or otherwise.
23. SOLICITATION OF ADVICE
The Subscriber agrees that during the term of this Agreement and for two (2) years thereafter, it shall not directly solicit expert advice relating to SteelMint’s services from any employee of SteelMint without first obtaining express consent from SteelMint.
24. EFFORTS TO RESOLVE DISPUTES
The Parties shall use their best efforts to resolve any dispute under or in relation to this Agreement quickly and amicably to achieve timely and full performance of the terms of this Agreement.
25. NOTICE OF DISPUTE AND INFORMAL RESOLUTION
Any party which claims that a dispute, controversy, or claim has arisen under or relating to the Agreement must give written notice thereof to the other party as soon as practicable after the occurrence of the event, matter, or thing which is the subject of such dispute. In such notice, such party shall provide particulars of the circumstances and nature of such dispute and of its claim(s) in relation thereto and shall designate a person as its representative for negotiations relating to the dispute, which person shall have the authority to bind the party in the settlement of the dispute. Within fourteen (14) calendar days from receipt of such notice, the receiving party shall promptly give reply in writing to the other party specifying its position in relation to the dispute and designating its representative in negotiation relating to the dispute. The designated representative of each party shall use all reasonable endeavors to settle the dispute within ten (10) calendar days.
26. AGREED DISPUTE RESOLUTION PROCESS
- If the parties’ designated representatives cannot resolve the dispute within the time specified in preceding sub-section, then either of the parties shall, within a period of twenty-eight (28) days, may give notice to the other party, of its intention to commence arbitration, as hereinafter provided, as to the matter in dispute. No arbitration in respect of this matter may be commenced unless such notice is given.
- Any dispute or difference in respect of which a notice of intention to commence arbitration as above has been given, it shall be finally settled by arbitration.
- A Sole Arbitrator appointed by mutual consent of the parties shall hear any dispute or difference submitted by a party to arbitration. If the parties fail to appoint a Sole Arbitrator by mutual consent, the same shall be appointed by the High Court of Chhattisgarh as per Section 11 of the Arbitration and Conciliation Act, 1996 on an application made by any of the parties for the purpose thereof.
- Arbitration proceedings shall be conducted in accordance with the Indian Arbitration and Conciliation Act, 1996 including any statutory modifications or re-enactment thereof and the rules made thereunder. The place of arbitration shall be Raipur, unless otherwise agreed between the parties. The language of arbitration shall be the language in which this contract is being executed.
- The decision of the arbitration tribunal shall be final and binding and shall be enforceable in any court of competent jurisdiction as a decree of the court. The parties thereby waive any objections to or claims of immunity from such enforcement.
- The arbitrator shall give a reasoned award.
- Notwithstanding any reference of dispute or difference under this clause, the parties shall continue to perform their respective obligations under the contract unless they otherwise agree.
27. LAW AND JURISDICTION
This Agreement or the dispute or claim arising out of or in connection with them or their subject matter or formation (including non-contractual disputes or claims) shall be governed by Indian Law. Any dispute or claim arising out of or in connection with such Agreement or their formation (including non-contractual disputes or claims) shall be subject to the exclusive jurisdiction of the courts of Raipur, Chhattisgarh.
28. APPLE'S AUTO RENEW TERMS & CONDITIONS
- Following conditions apply in case you purchase SteelMint APP subscription in apple phones/devices:
- Title of service - "1 Year Auto-Renew Subscription Plan"
- Length of subscription - 1 Year access to SteelMint iOS Mobile APP.
- Subscription yearly Price - $225 (or equivalent price in your currency) for non-indian clients, INR 12500 for Indian clients.
- Payment will be charged to iTunes Account at confirmation of purchase.
- Subscription automatically renews unless auto-renew is turned off at least 24-hours before the end of the current period.
- Account will be charged for renewal within 24-hours prior to the end of the current period, and identify the cost of the renewal.
- Subscriptions may be managed by the user and auto-renewal may be turned off by going to the user's Account Settings after purchase.
- Any unused portion of a free trial period, if offered, will be forfeited when the user purchases a subscription to that publication, where applicable.
All the service offered by steelmint are mentioned on the subscription page https://www.steelmint.com/signup which the client opts as per his reqiuirement.
SteelMint group is a third party data aggregator for iron and steel sector having its registered office in Raipur, Chhattisgarh, India. We collect information and data in context to prices, exports and imports, and 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 collect 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 Whatsapp. Communications are recorded for future references. We follow SOP (system operational procedure) to aggregate and process this data. The Company is consistently working on its systems to make it stronger 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 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.