SteelBenchmarker™ Participation Agreement
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The purpose of the SteelBenchmarker™ is to provide a reliable set of benchmark prices for use by participants in the steel industry and others without requiring disclosure of actual transaction prices. To assure reliability and prevent misuse, World Steel Dynamics (WSD) and Metal Bulletin (MB)/American Metal Market (AMM) agree that participants will provide their price opinion inputs to an independent third party computer system and not directly to WSD and MB/AMM, and that no person or group outside of the third-party computer system operator will ever be able to connect a price input to a specific provider. Moreover, no person or group, except for a third-party statistician that is monitoring the computer system, will ever see the product-by-product distribution of the price inputs.
The SteelBenchmarker™ output will consist of objectively calculated averages of price opinion input. So that the input data will be as reliable and confidential as possible, as a condition to its participation as a data provider to SteelBenchmarker™ each participant agrees to the following:
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The data provided by the participant will NOT be actual prices, but, instead, the participant will provide an estimate, based on the participant’s best judgement, as to what the going spot market booking price of certain quantities of specified products would be to a mid-sized buyer as of the time indicated in a specified geographic market for a hypothetical standardized market transaction.
The participant will NOT discuss or disclose its input, including how the reported benchmark price varied from its input, with or to any other provider of SteelBenchmarker™ input or anyone else, and, in particular, the participant will NOT discuss or disclose its input with or to any competitor or any employee of WSD and MB/AMM.
The participant will not disclose to anyone outside its own operation that it is a provider of input to the SteelBenchmarker™, what the nature of its input is or what products or geographic markets that input encompasses.
The participant will not provide the third-party collector of SteelBenchmarker™ input with any information that would permit identification of suppliers, customers, products, prices, dates or quantities of actual transactions.
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