Platts proposes SBB adopt Platts price assessment methodology

Clearly defined and transparent methodologies are the backbone of the Platts price assessment processes.

Platts methodologies provide detailed descriptions, specifications and explanations of how Platts reporters assess the market value of commodities so that customers and the market-at-large understand those processes.

The Platts practice is to publicly post such documentation by commodity and region for all published price assessments and indices.

Platts acquired the Steel Business Briefing Group July 1, 2011.

The acquisition gave Platts more than 250 existing and established SBB price series.

To serve our markets properly and consistently, the goal is to harmonize and integrate the Platts and SBB series of prices.

For example, with some steel/scrap product prices, there is overlap, and we intend to avoid duplication.

To initiate this process, Platts is proposing that all price series listed at: http://plts.co/nAmSBB for the North American steel and scrap markets be assessed as per methodologies published in a Platts Americas Steel & Ferrous Scrap Methodology and Specifications Guide, effective March 1, 2012.

These prices, previously published independently by the Steel Business Briefing Group (SBB) are currently published in the price analyzer tool at www.steelbb.com, and used in price stories, market commentaries and tables published in various Platts-SBB publications.

In cases where Platts is adopting or adding SBB pricing (such as hot-dipped galvanized), methodologies and specifications will be developed in line with existing Platts editorial standards and published to the market-at-large.

We invite your comments and feedback by February 22.

Please contact: joseph_innace@platts.com; christopher_davis@platts.com; henry_cooke@platts.com; francis_browne@platts.com, with a cc to pricegroup@platts.com

For your review, the Platts current steel/scrap methodology guide can be found at: www.platts.com/IM.Platts.Content/MethodologyReferences/MethodologySpecs/stee l.pdf And the proposed price series for North America can be found at: http://www.platts.com/IM.Platts.Content/MethodologyReferences/SubscriberNote s/Notes/nAmSBB.pdf, or http://plts.co/nAmSBB