NEW YORK, April 18, 2011 /PRNewswire/ -- Platts' physical price data have been selected as the basis for three new industrial steel futures contracts by CME Group, including scrap, billet and hot-rolled coil. Platts is a leading global energy, metals and petrochemicals information provider and a top publisher of global benchmark reference prices.
"This use of daily Platts ferrous metals data in swap futures contracts marks another milestone in the expertise we're offering to the steel industry's entire value chain as it continues its move away from long-term to short-term pricing," said Gerald Bueshel, Platts director of global licensing. "We're committed to bringing greater transparency to these and other evolving markets through our well established, rigorous physical price assessment processes."
With today's launch, the total number of CME Group contracts settled and cleared against physical market price assessments published by Platts is approximately 450.
For more information on the new Platts-based metals swap futures contracts that were announced April 5th and will begin trading and clearing on April 18th, visit: http://cmegroup.mediaroom.com/index.php?s=43&item=3129&pagetemplate=article.
Platts' ferrous scrap, steel billet and hot-rolled coil physical market price assessments are published in Platts Steel Markets Daily, an online and print publication containing news, market commentary and price information aimed at the steel, construction, and auto industries and commodities-focused money managers worldwide. The Platts assessments also are available via Platts Metals Alert, a real-time information service and Platts Market Data, an end-of-day data feed.
The well-established price assessment methodology used by Platts in scrap, billet and hot-rolled coil has been developed in consultation with a cross section of key industry players, draws upon Platts' century of experience in benchmark price reporting in the energy markets and is underpinned by robust quality guidelines.
Platts' metals markets reporting spans 40 years, following the tradition of its parent company, The McGraw-Hill Companies, which has covered the metals markets for more than 80 years.
In addition to the above mentioned price assessments, Platts provides price, supply/demand information and news across the steel value chain including reinforcement bar, metallurgical coal and iron ore, as well as aluminum, alumina, and for the broader metals, energy and petrochemicals markets. For more information on physical metals markets, visit the Platts website at www.platts.com.
*Platts does not sponsor, endorse, promote or sell CME Group contracts.
About Platts: Platts, a division of The McGraw-Hill Companies (NYSE: MHP), is a leading global provider of energy, metals and petrochemicals information. With a century of business experience, Platts serves customers across more than 150 countries. An independent provider, Platts serves the oil, natural gas, electricity, emissions, nuclear power, coal, petrochemical, shipping, and metals markets from 17 offices worldwide. 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 business decisions. Additional information is available at http://www.platts.com.
About The McGraw-Hill Companies: Founded in 1888, The McGraw-Hill Companies is a leading global financial information and education company that helps professionals and students succeed in the Knowledge Economy. Leading brands include Standard & Poor's, McGraw-Hill Education, Platts energy information services and J.D. Power and Associates. The Corporation has approximately 21,000 employees with more than 280 offices in 40 countries. Sales in 2010 were $6.2 billion. Additional information is available at http://www.mcgraw-hill.com.