LONDON, January 29 /PRNewswire/ --
Platts, the world's leading provider of energy and commodities information, today launched Steel Markets Daily, which provides price benchmarks, news, and market commentary on steel, one of the world's most strategic commodities. The product is targeted to the steel, construction, and automotive industries as well as commodities-focused money managers. Platts, a division of The McGraw-Hill Companies, has been covering metals markets for more than 75 years.
"The steel industry has undergone massive transformation driven by rising global demand, industry consolidation, and increasing price volatility," said Karen McBeth, Platts Global Director of Metals. "Producers and consumers have a critical need for reliable information to manage their price risk, and they are looking to Platts as the source for independent, accurate and timely information."
Francis Browne, a steel expert formerly with Stemcor, MAN Ferrostaal AG, and Coutinho Caro, has been named Executive Editor of the new publication and will retain the title of Platts Global Managing Editor of Steel. The product will also be supported by Joe Innace who is the Managing Editor of Steel for North America. He joined the Platts team from World Steel Dynamics.
"Steel Markets Daily" will include spot domestic and import prices for:
- Hot-rolled coil (HRC), the most widely produced flat-rolled steel which
is used for construction, appliance and automotive purposes; and
- Reinforcing bar (rebar), used in construction of buildings, roads and
bridges.
Prices will be quoted on a "from the mill" plus customs, insurance and freight (CIF) or a free on board (FOB) basis.
"For nearly a century, Platts has enabled global energy and metals markets to operate with greater transparency and efficiency. With the launch of Steel Markets Daily, we are proud to extend our capabilities into the steel markets," said Platts President Victoria Chu Pao. "We have engaged closely with the industry and the London Metal Exchange in developing this product. Both physical and financial players in the industry can now depend on Platts to help them better manage their risk."
For more information or to request a free trial to "Steel Markets Daily," visit http://www.steeldaily.platts.com.
About Platts:
Platts, a division of The McGraw-Hill Companies (NYSE: MHP), is a leading global provider of energy and metals information. With nearly a century of business experience, Platts serves customers across more than 150 countries. From 14 offices worldwide, Platts serves the oil, natural gas, electricity, nuclear power, coal, petrochemical and metals markets. 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 trading and investment decisions. Additional information is available at http://www.platts.com.
About The McGraw-Hill Companies:
Founded in 1888, The McGraw-Hill Companies (NYSE: MHP) is a leading global information services provider meeting worldwide needs in the financial services, education and business information markets through leading brands including Standard & Poor's, McGraw-Hill Education, BusinessWeek and J.D. Power and Associates. The Corporation has more than 280 offices in 40 countries. Sales in 2006 were US$6.3 billion. Additional information is available at http://www.mcgraw-hill.com.
Web site: http://www.platts.com
http://www.steeldaily.platts.com
http://www.mcgraw-hill.com
Shiona Ramage, +44-20-71766153, or Asia: Casey Yew, +65-653-06552, or U.S.: Larry Barth, +001-212-904-4492, all for Platts
