NEW YORK, Oct. 2, 2013 /PRNewswire/ -- Expanding its analytics capabilities in iron ore, Platts, a leading global energy, metals and agriculture information provider, has formed a commercial partnership with Minerals Value Services GmbH ( MVS), a privately-held Munich, Germany-based company specialising in determining value-in-use for miners, mills and traders in the iron ore and steelmaking industries.
Through the partnership, Platts becomes the exclusive distributor of MVS' web-based value-in-use tool, which enables users to calculate a value of iron ore for specific buying and selling scenarios. In addition, to support MVS' further growth and product development, Platts is making an equity investment in the company. Terms of the agreement were not disclosed.
"Participants in today's fast-evolving iron ore and steel markets want analytical tools that will give them a competitive edge, and that is exactly what the MVS application does," said Andrew Goodwin, Platts general manager, metals. "The new MVS powered by Platts enables users to identify the best prices and customers, optimize market and product portfolios and normalize prices for trades and contracts. It's a unique and extremely useful tool that complements Platts' existing offerings in metals and accelerates our ability to provide analytical products to customers at diverse points in the steel supply chain."
Under the agreement, Platts and its specialist pricing unit, The Steel Index (TSI), will provide a comprehensive set of steel-related price assessments -- including the Platts IODEX and TSI 62% Fe iron ore prices, which will form an integral part of the custom calculations performed by the MVS tool. The tool allows a subscriber to tap into multiple databases containing detailed information on local and international steelmaking input calculations, as well as freight, taxes, duties and other logistics costs that are updated daily. The end result is a value-in-use adjustment for a given iron ore, calculated on an individual steelmaker's precise technical and commercial parameters.The tool also offers customizable, downloadable reports and presentations to increase the analytical capacity and reach of users involved in financing, marketing and sourcing iron ore.