NEW YORK, Oct. 2, 2013 /PRNewswire/ -- Expanding its analytics capabilities in iron ore, Platts, a leading global energy, metals and agriculture information provider, has formed a commercial partnership with Minerals Value Services GmbH (MVS), a privately-held Munich, Germany-based company specialising in determining value-in-use for miners, mills and traders in the iron ore and steelmaking industries.
Through the partnership, Platts becomes the exclusive distributor of MVS' web-based value-in-use tool, which enables users to calculate a value of iron ore for specific buying and selling scenarios. In addition, to support MVS' further growth and product development, Platts is making an equity investment in the company. Terms of the agreement were not disclosed.
"Participants in today's fast-evolving iron ore and steel markets want analytical tools that will give them a competitive edge, and that is exactly what the MVS application does," said Andrew Goodwin, Platts general manager, metals. "The new MVS powered by Platts enables users to identify the best prices and customers, optimize market and product portfolios and normalize prices for trades and contracts. It's a unique and extremely useful tool that complements Platts' existing offerings in metals and accelerates our ability to provide analytical products to customers at diverse points in the steel supply chain."
Under the agreement, Platts and its specialist pricing unit, The Steel Index (TSI), will provide a comprehensive set of steel-related price assessments -- including the Platts IODEX and TSI 62% Fe iron ore prices, which will form an integral part of the custom calculations performed by the MVS tool. The tool allows a subscriber to tap into multiple databases containing detailed information on local and international steelmaking input calculations, as well as freight, taxes, duties and other logistics costs that are updated daily. The end result is a value-in-use adjustment for a given iron ore, calculated on an individual steelmaker's precise technical and commercial parameters.
The tool also offers customizable, downloadable reports and presentations to increase the analytical capacity and reach of users involved in financing, marketing and sourcing iron ore.
"Besides giving customers the opportunity to use Platts' benchmark price assessments for diverse analytical purposes, MVS' partnership with Platts enables us to leverage its global sales network, extensive marketing capabilities, and top-tier client base," said Benedikt Sobotka, MVS founding partner. "Our shared vision is to extend this tool to other differentiated commodities in addition to iron ore. We are receiving significant interest in applying our methodology and capabilities to other commodities markets and are excited to work with Platts as we continue to add features and deliver value to our customers."
MVS was founded in 2011 by Sobotka and Fabian Kroher, mining and steel industry professionals who worked together at the Boston Consulting Group. It employs a team of experienced engineers, metallurgists and commercial experts in Munich and maintains a network of researchers in China, India, South Africa and Australia who provide the transactional, logistical and fundamental data underpinning the MVS application. Current and prospective customers include trading firms, miners, steel producers, financial institutions and logistics companies. For more information on MVS visit: https://www.mvs-corp.com/en/.
For more information on Platts, visit: http://www.platts.com/.
About Platts: Founded in 1909, Platts is a leading global provider of energy, petrochemicals, metals and agriculture information and a premier source of benchmark prices for the physical and futures markets. Platts' news, pricing, analytics, commentary and conferences help customers make better-informed trading and business decisions and help the markets operate with greater transparency and efficiency. Customers in more than 150 countries benefit from Platts' coverage of the biofuels, carbon emissions, coal, electricity, oil, natural gas, metals, nuclear power, petrochemical, shipping and sugar markets. A division of McGraw Hill Financial (NYSE: MHFI), Platts is headquartered in New York with approximately 900 employees in more than 15 offices worldwide. Additional information is available at http://www.platts.com.
About McGraw Hill Financial: McGraw Hill Financial (NYSE: MHFI), a financial intelligence company, is a leader in credit ratings, benchmarks and analytics for the global capital and commodity markets. Iconic brands include: Standard & Poor's Ratings Services, S&P Capital IQ, S&P Dow Jones Indices, Platts, CRISIL, J.D. Power & Associates, and McGraw Hill Construction. The Company has approximately 17,000 employees in 27 countries. Additional information is available at www.mhfi.com.