Letter from the editor: pricing review

By IM Staff
Published: Wednesday, 31 January 2018

As we enter into a new year, I wanted to update you on some of the changes and significant developments the global Industrial Minerals team is working on to ensure that the market information and prices that we provide you with are of the utmost relevance to your business.

Dear Subscribers,

Last year, 2017, marked Industrial Minerals’ 50th anniversary. As you can imagine, Industrial Minerals has seen many changes in the minerals we have covered since its launch in 1967 - from market consolidation to new applications, to the depletion of certain grades in some regions and the emergence of new grades in others.

In addition, the industry, like many others, now faces more regulation and compliance requirements than ever before. With those factors in mind, here at Industrial Minerals we are endeavoring to ensure that we offer the most relevant information and pricing data to your business, using the most robust and transparent of methodologies.

Over the course of 2017, we embarked on a process of refining and improving the pricing data we publish on Industrial Minerals. Indeed, you may have noticed the 'Pricing Notices’ we have been publishing periodically throughout the year.

In the knowledge that many of you rely on our pricing data, and the responsibility that comes with that, as a Price Reporting Agency (PRA), we continue to review our methodologies and specifications for all our prices. As part of the process, we intend to consult with the industry to ensure that we are capturing the most relevant markets for your needs.

While in some cases this means we have delisted prices, in others we have expanded our coverage, changed the publication frequency and/or launched new grades.

In 2018, we will continue this process.

To that end, we intend to review many more minerals in the immediate future and invite you to participate.

Over the course of the first quarter of this year, we will be proposing further changes. 

The first tranche of these will concern the proposal to suspend coverage of prices for the following minerals from February 28, 2018:

Celestite, kyanite, perlite, olivine, nitrates.

To provide feedback on these prices, or if you would like to provide pricing information to Industrial Minerals by becoming a data submitter, please contact us by email at: pricing@indmin.com. Please add the subject heading 're: February discontinuations’.

We will also shortly be initiating a consultation to review the prices we offer on the following minerals: baddeleyite, borates/boron minerals, caustic soda, diatomite, feldspar, iron oxide, manganese, mica, silica sand, sulfur, talc, vermiculite and wollastonite.

The aim of these consultations will be to introduce new prices where required, to amend others and to discontinue prices where there is limited market activity or interest.

As the only PRA to offer coverage of the full industrial minerals suite, we know that you rely on the content we provide. Given that context and our capacity as a responsible PRA, we will continue to review our price offering at regular intervals to ensure that you receive the most relevant data.

Our goal is to be the world’s leading and most trusted price reporting and intelligence service for the markets that we serve. To that end, Industrial Minerals, as part of the Metal Bulletin Group, is working toward adopting IOSCO PRA Principles, a set of best-practice recommendations for price reporting agencies to ensure robust and transparent pricing processes.

The principal areas covered are governance and oversight; quality and integrity of methodologies; and accountability and auditing.

As we undertake the next phase of this journey, we invite and encourage your participation. 

Should you have any feedback or questions regarding any of the points outlined in this letter, please do not hesitate to get in touch.

Best regards,

Barbara O’Donovan

Managing Editor Industrial Minerals