What does this data mean? MetalMiner Insights includes prices for 304 stainless steel as well as many other common grades including: 201, 301, 316, 321, 430, 409, 439 and 441. Features include: world nickel prices and stainless steel on LME from Europe, China and North America, cost models, buy signals, price forecasts (monthly, quarterly and yearly), search strategy recommendations and over 100 price feeds. MetalMiner Insights shows companies how to buy, when to buy and what to pay for.
Just knowing the base price and surcharges for stainless steel is not enough. Most of the cost is for all additional components and add-ons (eg vinyl, polishing, cutting to length, etc.). MetalMiner provides a more granular view of total costs, giving purchasing organizations at least 45% better visibility into the total costs they are actually paying.
Access to a comprehensive stainless steel pricing model remains elusive, whether a company buys direct or through a service center. The MetalMiner Insights cost model takes into account all elements of the cost of stainless steel, including: base price, size, width increase, applicable current discounts, and all surcharges and incremental costs for all commercially available grades of stainless steel.
Ignore the noise, but be aware of the trends. MetalMiner’s track record with stainless steel price predictions and stainless steel markups, which it calls a bull or bear market, means that buying organizations can always save or avoid costs.
Some might argue that the timing of buying aluminum seems speculative. However, spot buying also means speculative buying! Determining a specific price per pound of aluminum solely through fundamental analysis (such as supply and demand) is rarely a viable buying strategy, especially if the market is volatile. Understanding aluminum prices in the short and long term can allow buyers to re-strategize in falling, sideways and rising markets and save money by timing their purchases.
For a new sourcing professional or someone taking on the exciting responsibility of managing an aluminum category for the first time, this introduction to the 5 best practices for finding metals can help in upcoming supplier negotiations. This briefing explains how to use cost segmentation to separate refining/processing costs from metal prices, why buy by weight instead of individually, the importance of “3″ in shipping rewards, and two other best practices to help reduce the cost of goods sold.
Upcoming negotiations on sheet or roll? Make sure you know how your service center will negotiate aluminum prices. Whether you are buying 3003 aluminum sheet or 6061 profile, understanding how much of the aluminum price fluctuates with the index and which elements should remain the same will help reduce market volatility.
We are always looking for input and opportunities to expand our offering to help metal sourcing organizations. Interested in steel prices and market trends? Any suggestions for copper prices, negotiations and cost reductions? Contact us and let us know!
MetalMiner helps manufacturers to better manage profits, save and avoid costs, smooth out volatility and achieve profitability goals. We use data – data science, data analytics, artificial intelligence, statistical analysis and technical analysis – to provide purchasing organizations with concrete and actionable purchasing recommendations. Used consistently, the MetalMiner Purchasing Guide offers companies the opportunity to save and avoid costs.
MetalMiner helps purchasing organizations better manage margins, smooth out commodity volatility, reduce costs, and negotiate prices for steel products. The company does this through a unique predictive lens using artificial intelligence (AI), technical analysis (TA) and deep domain knowledge.
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