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Chemicals, Metals & Mining Theme, Polymers, Ferrous, Non-Ferrous, Solvents & Intermediates
February 01, 2024
Platts launches Platts Industrial Materials Index Feb 1, 2024
Platts, part of S&P Global Commodity Insights, has launched the Platts Industrial Materials Index, effective Feb. 1, 2024.
This index is published on Platts Live and represents a global price of some of Platts' key physical assessments of commodities in the metals and chemicals sectors, used in industrial production.
Details of the new index and symbols are as follows:
| Symbol | Description | Currency/UoM |
| PLINM00 | Platts Industrial Materials Index | $/mt |
| PLINM03 | Platts Industrial Materials Index Monthly Average | $/mt |
This is a daily weighted average index, in $/mt, of the following component assessments and indexes.
| Commodity | Assessment | Symbol | Currency/UoM | UoM conversion | Assessment frequency | Current weighting in index |
| Polyethylene | Global LDPE Index | AAXVR00 | $/mt | 1 | Daily | 8.475% |
| Polypropylene | Global PP Index | AAXVS00 | $/mt | 1 | Daily | 5.482% |
| Purified Terephthalic Acid | PTA FOB China | PTFCA00 | $/mt | 1 | Daily | 3.668% |
| Polyvinyl chloride | PVC Susp FAS Houston | PHAIT00 | $/mt | 1 | Weekly | 0.680% |
| Polyvinyl chloride | PVC Susp FOB China | EBPVS00 | $/mt | 1 | Daily | 1.807% |
| Rubber | ESBR 1502 CFR NE Asia | AAWZI04 | $/mt | 1 | Weekly | 2.688% |
| ABS | ABS Inj CFR China | PHAHF00 | $/mt | 1 | Weekly | 0.670% |
| Steel scrap | Heavy Melting Scrap Grade 1 and 2 80/20 CFR Turkey | TS01011 | $/mt | 1 | Daily | 14.287% |
| Iron ore | IODEX 62% Fe CFR China | IODBZ00 | $/mt | 1 | Daily | 17.902% |
| Coking coal | Prem Low Vol HCC FOB Aus | PLVHA00 | $/mt | 1 | Daily | 19.239% |
| Copper | Copper CIF China Fixed Price Equivalent (All-in) | MMCUC00 | $/mt | 1 | Daily | 12.987% |
| Aluminum | Aluminum US Transaction (All-in) | MMAAF10 | cents/lb | 22.0462442 | Daily | 12.115% |
The weight of each commodity, to be reviewed and updated periodically, is determined by the market value of the commodity relative to the total market value of all the commodities represented in this composite index.
Market value is in turn approximated by the product of the latest global production volume of the commodity and the latest two-year average price of the component assessment or index selected to represent the commodity.
For PVC, global production is further divided between the FOB China and FAS Houston assessments 3:1 according to the relative market sizes between China and the US, for the calculation of their respective weightings.
For ABS and steel scrap, global consumption volumes, as a proxy for their respective global production volumes, are used to calculate their weightings.
For steel scrap, Platts estimates global steel scrap consumption using the global crude steel production number, published by the World Steel Association, and a scrap consumption ratio, derived from recycled steel consumption and crude steel production in key countries and regions, published by the Bureau of International Recycling.
The following table details the sources of the production or consumption numbers used to calculate the weightings of each commodity.
| Commodity | Source |
| Polyethylene | S&P Global Commodity Insights |
| Polypropylene | S&P Global Commodity Insights |
| Purified Terephthalic Acid | S&P Global Commodity Insights |
| Polyvinyl chloride | S&P Global Commodity Insights |
| Rubber | S&P Global Commodity Insights |
| ABS | S&P Global Commodity Insights |
| Steel scrap | World Steel Association, Bureau of International Recycling |
| Iron ore | United States Geological Survey |
| Coking coal | International Energy Agency |
| Copper | United States Geological Survey |
| Aluminum | United States Geological Survey |
When a component assessment or index is not published on a particular day, the price published from the previous working day is used in the calculation.
Platts announced the launch of the index Jan. 18, via a subscriber note available here, following a proposal Dec. 26, via a subscriber note available here.
Please send any feedback or questions to pricegroup@spglobal.com.
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