Articles on: Primary Commodity Prices

How can I use Intratec's commodity price data?

How to Use Intratec Price Data

Intratec price data has been successfully used in several ways over the years, such as:

To evaluate transaction prices in international markets
To assess procurement planning performance
To identify monthly/yearly price trends
To doublecheck price references
To conveniently view pricing data, in different currencies, units, on a quarterly or annual basis
To develop internal commercial studies/investment analyses
To support, in combination with other indexes, commercial strategies decision making

As we highly value transparency and our customers’ satisfaction are extremely important to us, we organized this article to describe in further detail the data presented, so subscribers can make the best use of it.

About the Price Data Presented

Intratec presents primarily volume-weighted averages of prices at which international trade transactions were effectively closed. Such volume-weighted averages of transaction prices, based on international trade statistics officially reported by governments worldwide, are not necessarily indicative of specific contract prices or spot transactions/bids (unless otherwise specified).

Also, the prices presented concern mixed commercial grades of a commodity as grouped by the sources that release the data. They do not reflect the price of any specific grade, rather an average price of all grades traded in the period reported, under all types of transaction (contract and spot), weighted by the transaction volume.

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While Intratec price data can be a useful guide in several situations, when used alone it may not capture specific and/or sharp price movements in periods of high price volatility. Therefore, unless in combination with other price indexes, we discourage using the monthly price data from our databases as a reference of commodities’ real-time prices, or as an index for structuring contracts between suppliers and consumers.

When using prices from Intratec price data, the price assessment scope is especially important. Due to official trade statistics summarization, price data presented may refer to an average price related to a set of different grades. A significant price change of a specific grade may not be reflected in the average price presented as this price may include other grades that did not vary as much.

Therefore, it is important to pay special attention to the price description provided within each assessment. It provides the description of what is included in the trade statistics summary.
In addition, prices provided in Intratec products should not be used as comparison basis to either spot or contract prices. They constitute an average price of all transactions concluded during a given period of analysis.

Price estimates derived from predictive models (either preliminary or forecasted) have been created for information purposes only, as a possible forward view of commodity prices.
Commodity prices are subject to abrupt variations caused by either energy price volatility or subtle geopolitical events. Predictive models use of machine learning and artificial intelligence algorithms to interpret available data and generate price estimates considered reasonable. However, there is a high degree of uncertainty associated with preliminary prices and forecasts, and subscribers should be aware that future revisions to the data could be significant based on market fluctuations. Differences between estimated prices and actual price are expected because events often do not occur as expected and market circumstances may change after price estimates are published.

While every effort has been made to ensure the predicted price estimates accuracy, no representation or warranty of any kind (whether expressed or implied) is given by Intratec to the accuracy of the data. Intratec accepts no liability of any kind and disclaims all responsibility for the consequences of any person acting or refraining from acting in reliance on the provided price estimates in whole or in part.

Updated on: 05/22/2024