MEPS - MACHINERY
(INCORPORATING GENERAL ENGINEERING) STEEL PURCHASING PRICE INDEX
JAN 2007 = 100
(Based on US$/tonne
Industrial machinery sector - This is a general
sector which was created by taking an average of the procurement of
steel for the manufacture of industrial machinery for mining,
automotive, machine tools and metal forming sectors.
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Copyright © 2014
by MEPS International Ltd.
MEPS commenced its field research programme by entering into
discussions with steel buyers in the main industrial sectors across
the world. Many of these are current subscribers to our services.
From the information gathered plus published data and MEPS analysis,
we were able to make an assessment of the usage, by rolled steel
product, for each industrial sector. Regional differences were
accommodated where necessary. Using the above criteria, in
conjunction with MEPS researched values, a notional January 2007
average steel price was calculated for each industrial sector. These
were referenced index 100. All subsequent index values have been
taken from this point.
To calculate an index
number, divide the selected month’s price by the starting (base)
value. Then multiply by 100.
For example: Index number = ($720 / $500) x 100 = 144. To calculate
the month-on-month percentage change, divide this month’s value by
last month’s value. Then subtract 1 and multiply by 100. For
example: Percentage change = (120 / 110) -1) x 100 = +9%.
here for product and price definitions
All price and market data is researched by MEPS staff and our local
correspondents. The information in the tables, charts and
commentaries has been calculated from respondents who we consider
provide accurate intelligence on the relevant steel markets. We make
our best endeavours to be assured that the information is correct
and that our analysis is reliable.
Our predictions are based on a
wide experience of steel consumption patterns. The econometric
models we have constructed take into account raw material costs,
macro-economic factors, past price trends and the dynamics of the
market. However, steel prices can be influenced by a number of other
factors. These include currency exchange rates, trade regulations
including import safeguard measures, anti-dumping actions and other
government interference in normal trade patterns. More than one
third of all steel produced is sold outside the country of
manufacture. Accordingly, changes in market conditions in one
country can impact on pricing in other parts of the world.
Consequently, these forecasts should be used only as a guide to
future tendencies. MEPS (INTERNATIONAL) LTD cannot be made liable
for any loss resulting from the use of these price forecasts however
it may arise.
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