MEPS - MACHINERY
(INCORPORATING GENERAL ENGINEERING) STEEL PURCHASING PRICE INDEX
January 2007 = 100
Based on US$/metric ton
All tables and forecasts are updated monthly.
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.
Copyright © 2017
by MEPS International Ltd.
Prices in the above table are for reference only. No data may be
reproduced in any manner whatsoever without written permission from
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%.
for product and price definitions
price and market data is researched by MEPS staff and our local
information in the tables, charts and commentaries have been
calculated from respondents who we consider provide accurate
intelligence on the relevant steel markets. We make our best
endeavors 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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