Help

 

> Frequently Asked Questions

> How does MetalMinerâ„  Benchmark (MMB) generate benchmark results?

> When my Basic Analysis Results are displayed, why does MMB initially ignore some of the ‘optional’ price attributes that I have previously entered?

> How do I know the benchmark results are accurate?  Everyone purchases metals in different dimensions, quantities, and  time periods. How does MMB take these variations into account?

> What is a "What if Price" and does it potentially skew the results in the system?

> Under 'MMB Stats' on the 'My Account' landing page, I see a reference to Original and Derived benchmarks. What is the difference?

> If I can’t find the metals that I am searching for, what should I do? 

> Do you share or sell my contact information?

 

> Improving Print Results

 

> Definitions

 

> Minimum System Requirements

 


Frequently Asked Questions:

How does MetalMinerâ„  Benchmark (MMB) generate benchmark results?

MMB compares the price of industrial metals purchased or quoted to a database of transactions collected from hundreds of other buyers.  Since variation in sizes and quantities purchased across multiple users is potentially massive, all prices entered are then normalized to standard sizes and quantity ranges, taking into account all of the factors you would expect (industry standard size and quantity range adders and discounts etc.).   In addition, all pricing information is normalized to conform to the then-applicable calendar date using proprietary algorithms that take into account raw material chemistries and the daily price fluctuations in those materials as well as other cost drivers that influence the cost of the finished product (electricity etc.).  As you would expect, weighting factors attach greater relevance to the most recent prices.

Note: Your Original Price is never displayed to other Users.  Only the normalized price is factored into results displayed to other Users.  Your User Name, Company Name and the name of your Source of Supply are NEVER displayed.  
 

When my Basic Analysis Results are displayed, why does MMB initially ignore some of the ‘optional’ price attributes that I have previously entered?

When you get the basic benchmark result back, you might notice that some of the 'optional' information you may have entered with your price (things like ‘industry,’ ‘buyer type,’ and ‘specification’) are NOT taken into account in the results displayed.  Why?  Because optional fields often limit initial results more than necessary in order to gauge overall market competitiveness for a given Metal Category.  Another reason is that it increases the likelihood of a statistically significant sample size for initial comparison purposes.

 

How do I know the benchmark results are accurate?  Everyone purchases metals in different dimensions, quantities, and time periods. How does MMB take these variations into account?

First, all MMB users must register and each account is validated to ensure that our benchmarking community is only comprised of legitimate business users.  In addition, MMB primarily uses actual prices submitted by clients that originates from customer ERP/MRP systems.  Hypothetical 'What if Prices' entered by online users are NOT factored into displayed benchmark results.

A variety of tested and effective measures are in place to prevent this type of data from infiltrating the MMB database whether accidentally or nefariously.  If new prices entered fall outside of acceptable parameters, they are automatically excluded from the MMB database and user behavior is continuously monitored to ensure that everyone is benchmarking responsibly.
 
While we are confident that you will find MMB to be an invaluable tool in assessing your current metal purchasing practices, the accuracy of the analysis is necessarily dependent upon the accuracy of the information that you and others provide, as well as the accuracy of the information currently in the MMB database.  Accordingly, we make no warranty as to the accuracy or completeness of any information you access through MMB.

 

What is a 'What if Price' and does it potentially skew the results in the system?

A 'What if Price' is a hypothetical price.  Users have the option when submitting a price that is neither a 'Price Paid' nor 'Price Quoted' to classify it as a 'What if Price.'  There may be good reasons for doing so, including the natural tendency of new users to want to watch the dial move back and forth.  Hypothetical 'What if Prices' entered by online users are NOT factored into displayed benchmark results.

Note: Please be aware that submitting hypothetical or inaccurate data under any submit scenario other than the 'What-If' scenario may result in immediate loss of access to MMB.

 
 
Under 'MMB Stats' on the 'My Account' landing page, I see a reference to Original and Derived benchmarks. What is the difference?
 
An 'Original Benchmark' is a user-entered or uploaded price (quoted or purchased).  A 'Derived Benchmark' is always based on an actual user-entered price (Original Benchmark) but represents an extrapolation to the next larger or smaller size based on industry standard adders and discounts. 

 

If I can’t find the metals that I am searching for, what should I do? 

While MMB currently supports hundreds of unique form, alloy, grade combinations, there is a good chance you’ll find Metal Categories that are not yet supported or where a statistically significant sample size does not yet exist in order to render a fully reliable result .  The good news is that the MMB database grows larger by the day as more users enter their prices.  If you don’t see what you are looking for today, come back in a week or so and have another look.  

 

Do you share or sell my contact information?

No.  We will not share your name, your company name or your supplier name with anyone under any circumstances. However, as you would expect with any crowd-sourced benchmarking solution, your normalized pricing information, once combined with the prices of hundreds of other MMB users, is used as part of a proprietary algorithm to derive the ‘Market Price' for a relevant Metal Category. 

 


Improving Print Results:

Print results are highly dependent on settings in your browser and are outside of our control.  Here are a couple of suggestions to help you improve the results of printing one of our pages:

  • Make sure the option to "show background images and colors" is turned on.
  • Adjust the margins on the print so that everything fits properly on the page.

Definitions:

Basic Benchmark Results:  Initial benchmark results presented in the form of a dial indicating whether the price a user has entered is at, above, or below the average market price.  

Batch: A list of prices that can be imported into MMB through an Excel spreadsheet allowing users to upload multiple benchmarks at a time, only available to full service clients.

Beta: The final software testing stage before full release.

Cast Foundry: A factory that produces metal castings by melting them into a liquid, pouring the metal in a mold, and removing the molded metal after it cools.

Comparison Data: Existing crowd-sourced data points in which 'My Benchmarks' are compared against. Comparison Data is generated using real and derived benchmarks.

Crowd-sourcing: The practice of obtaining needed services, ideas, or content by soliciting contributions from a large group of people, especially from an online community, rather than from traditional employees or suppliers.

Derived Benchmark: Benchmarks that are generated algorithmically based on an actual User-entered prices (Original Benchmark), but representing an extrapolation to the next larger or smaller size based on industry standard adders and discounts. 

Distributor: An agent who supplies goods to stores and other businesses that sell to consumers.

Element Supplier: A source of raw or semi processed ore that is used for the creation of alloyed metals. MMB also considers a supplier of scrap to be an Element Supplier.

Equipment: Industrial machinery and tools used in the milling, processing, and transporting of metallic products.

Fabricator:  A company that makes, shapes, forms, or assembles parts; a manufacturer.

Forger: A company that makes or shapes (a metal object) by heating it in a fire or furnace and beating or hammering it.

Metal Category:  A unique form, alloy, grade, and specification combination.

Metals Benchmarking Report (MBR): A concise, high-level management report providing a “bird’s eye” view of how a company’s raw material purchases compare to similar purchases made by other metals buyers.

Mill/Distributor: A company that operates a mill and also offers distributor services.

Mill: A company that produces rolled or forged metal products from elemental ore.

My Benchmarks: User-provided price data that is “benchmarked” against comparison data.

Normalization: Standardization to uniform size and quantity ranges for each Metal Category based on specific size and quantity adders and discounts as well as industry standard cost drivers.  Dates are also normalized to a common purchase date.

Original Benchmark: a User-entered or uploaded price (quoted or purchased).

Processor/Distributor: A company that offers both metal processing and distribution services.

Processor: A company that converts metal or performs a custom manufacturing process.

Services: A company that offers service products such as software, consultancy, or finance.


Minimum System Requirements:

 

Please Note:  Microsoft ended security updates for Internet Explorer version 8 and below as of January 12, 2016.  They recommend that customers migrate to a supported version.

Due to this, in order to protect the data, Price Dynamics also ended support for Internet Explorer version 8 in 2016.

For more information, please see the following link: https://www.microsoft.com/en-us/WindowsForBusiness/End-of-IE-support

 

Network:

Minimal Bandwidth: 800 KB per page X 20 pages per user per day

Minimal Speed: 768 Kbps for both download and upload

 

Web Browser and Other Software:

Internet Explorer 9.0 and above

Mozilla Firefox, most recent stable version

Google Chrome, most recent stable version

JavaScript must be enabled

Cookies must be enabled

 

Browser Machine:

Operating System: Mac and Windows

Memory Size: 1 GB and above

CPU: Pentium 4 and above