Platts proposes to launch Platts Industrial Materials Index Feb 1, 2024

Platts, part of S&P Global Commodity Insights, proposes to launch the Platts Industrial Materials Index, effective Feb. 1, 2024.

This index would represent a global price of some of Platts key physical assessments of commodities in the metals and chemicals sectors, used in industrial production.

It would be an average daily index price published in US$/mt, for the following component assessments and indexes, weighted by the latest global production volumes of the corresponding commodity relative to the total global production volumes of all commodities represented in the index. For PVC, the weighting would be further divided between the FOB China and FAS Houston assessments 3:1 according to the relative market sizes between China and the US.

For ABS and steel scrap, global consumption volumes would be used to calculate the weightings.

For steel scrap, Platts would estimate 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.

When a component assessment or index is not published on a particular day, the price published from the previous working day would be used in the calculation.

Please send any feedback or questions by Jan. 15 to pricegroup@spglobal.com.

For written comments, please provide a clear indication if comments are not intended for publication by Platts for public viewing.

Platts will consider all comments received and will make comments not marked as confidential available upon request.