Frequently Asked Questions

The new MetalMiner IndX^SM features more than double the number of price points of the previous IndX^SM — over 600 in all. MetalMiner IndX^SM is the only site that aggregates the full range of industrial metals from multiple countries. In addition to metal prices, the new IndX^SM also includes stainless steel surcharges, fuel surcharges and mill price announcements; the ability to model statistical correlations by pulling historical data; setup of email alerts to notify you when prices rise or fall beyond certain thresholds; and the ability to embed the application in your company’s existing ERP and sourcing/procurement systems, arming you and your company with the best strategic buying tools available today.

 The new IndX^SM contains pricing from the United States, mainland Europe, China, South Korea, Japan, and India. The IndX^SM also contains pricing from the London Metals Exchange (LME).

In most cases, price points come from local market publications. In other words, as an example, Chinese buyers can access local market publications to identify metal prices; our in-country team allows us to access the same data. In some cases, MetalMiner develops its own proprietary data (e.g. GOES, bar fuel surcharges) and in other cases, we have contracted to receive domestic mill price announcements. Many US-based prices come from multiple sources and MetalMiner assigns weights and algorithms to the various providers’ numbers. We verify all our information prior to publication.

Data is taken from multiple in-country sources and the prices are translated and entered using a two-part entry system. One first entry is made in-country, and our QA office in the UK validates the second. Other data is made available via local publications. MetalMiner IndX^SM ”spiders” these sites and posts the Asian closing price for Western markets the following morning before 2:00pm CDT. To date, our sources are published locally in the local language.

We felt the inclusion of this data would make it easier for users to compare metals traded on futures markets in multiple countries. In effect, we’ve created a “one-stop shop” for your metal price needs.

 You can assume that the price in the system is the most recent price available in the local market. On occasion, available prices are not updated due to local or national holidays. Also, certain minor metals are only published weekly or monthly.

We will continue to seek new metals, as well as more types, grades and forms of metals to expand our offerings. Additional sources are most definitely part of the product road map. We would welcome suggestions for additional metals, although we can’t guarantee their inclusion.

MetalMiner IndX^SM is updated daily with the latest official central bank exchange rates, allowing price points and reports to be run in the local currency or any other major currency of your choice, including US dollars.

The price points that appear on the new MetalMiner IndX^SM widget on the site are all available completely free. (Existing ‘free’ users of the previous version of the MetalMiner IndX^SM can access many of these price points via the widget, or pay for a subscription.) The full version is priced either as a web-based application for $97 per month or $997 for a full year, or with an API to be embedded in your existing systems, for $9,997 per year. In either case, subscribers will have the opportunity to access all data points, all price history and all functionality.

For an annual subscription or other subscription term or renewal term longer than one month, either Customer or MetalMiner IndX(SM) provides notice of termination more than thirty (30) days before the end of the then-applicable subscription term ; or (2) for all other subscriptions, Customer or MetalMiner IndX(SM) provides notice of termination before the end of the then-applicable subscription term.

You need to click on the “Login” link at the top of this page, and from there you click to the MetalMiner IndX^SM application home page to enter your user name and password. (Your username and password are automatically generated after your payment has been processed.) Feel free to share your user name and password with anyone at your company!

“Have browser, will travel!” The tool will work on any Internet browser.

If your suppliers ask for a price increase due to raw material costs, you can monitor those price movements on MetalMiner IndX^SM to see if they are justified. Likewise, by monitoring price movements in the other direction, you can request price decreases from your suppliers. Find out about all the use cases for a metal price index data by clicking here/downloading this free white paper.

Archives, charting and historical charting are available in this release for every metal we have tracked since launching the first MetalMiner IndX^SM in 2009. However, for all new price points, the historical information may be limited, since we’re working to build enough history to make that capability meaningful.

There are several reasons why the price of a metal in one country could be totally different from the price of that same item in another country. These factors could include country-specific export taxes, VAT rebate rates and tariffs. Also, prices are posted in different countries for different gauges, which also results in varying prices. Some countries are net importers of various metals, and others are exporters. A much higher price in one market over another may suggest that the first country is importing product. This should highlight further opportunities for the purchasing manager. In addition, foreign exchange rates move over time, and this can cause local prices to rise or fall relative to other parts of the world if all prices are converted back into US dollars, for example. This is known as arbitrage and can present an opportunity for buyers.

Absolutely. As long as you know what material you are looking for, just look it up. With more than 600 price points, there is a better chance than ever to find potential substitutes across countries. If there are specific metals/country sources that you would like to see, please drop us a line!

MetalMiner IndX^SM in its current form only shows the pricing, not the names of various producers. If you are interested in working with an experienced global sourcing team, please feel free to contact us at 1-773-525-9750 or by email. MetalMiner specializes in global metals sourcing.