Commodities Content

Commodities Roundup: Steel prices; commodities bear market; U.S.-China trade deal keeps tariffs for next phase

MetalMiner, a sister site of ours, scours the landscape for what matters. As MetalMiner’s Belinda Fuller noted this week, U.S. steel prices made gains in the first half of December. In other news, rare earths miner Lynas awaits a license to mine the material in Malaysia. And a look at the commodities market shows that it's not benefitting like the stock market and could be hurt if the dollar weakens. Also, the tariffs on China stay until phase two of the U.S.-China trade deal can be hammered out.

Commodities Roundup: Russia-Ukraine natural gas deal; auto sales down; U.S.-Iran tensions’ raise oil prices

For the buyers and category managers out there, especially those of you deep in the weeds of buying and managing commodities, here’s a quick rundown of news and thoughts from particular commodity markets. MetalMiner, a sister site of ours, scours the landscape for what matters. This week:

Christmas with family is priceless, but turkey and ham dinners are pricier this year

Spend Matters welcomes this holiday guest post from Mintec, which provides thousands of food commodity prices and helps brands manage spend with Mintec Analytics.

Sharp rises in meat and potato prices are likely to affect the cost of a typical Christmas dinner in the U.S. this year. The decline in prices of cranberries and turnips are not enough to offset the rises in turkey, ham, potatoes, carrots and sweet potato prices.

The Mintec U.S. Christmas Dinner Index for a turkey dinner has risen by 6% year on year, but ham dinners have risen by a whopping 19% year on year.

It may be small consolation, but the Gingerbread Index has increased by a comparatively measly 1% y-o-y.

Thank you, Mintec, for the insights — and Merry Christmas to all!

Commodities Roundup: Trump’s South America tariff threat; Saudi Aramco’s IPO; rising steel prices

For the buyers and category managers out there, especially those of you deep in the weeds of buying and managing commodities, here’s a quick rundown of news and thoughts from particular commodity markets. MetalMiner, a sister site of ours, scours the landscape for what matters. This week:

Commodities Roundup: ArcelorMittal closures; oil prices; nickel deficit falls; section 232 tariffs

For the buyers and category managers out there, especially those of you deep in the weeds of buying and managing commodities, here’s a quick rundown of news and thoughts from particular commodity markets. MetalMiner, a sister site of ours, scours the landscape for what matters. This week: ArcelorMittal closures; oil prices; nickel deficit falls; section 232 tariffs

What’s the Price: Vendor Introduction (Part 2 — Product Strengths and Weaknesses) [PRO]

In our last brief we introduced you to What’s the Price, a five-year-old Dutch vendor that offers should-cost modeling tools for supplier negotiations. Born out of the frustrations of two procurement professionals who wanted to get faster, more accurate price estimates to counteract supplier quotes, WTP makes smart use of publicly available big data to drastically cut the time and effort in building should-cost models. The solution is notably easy to use and provides a lot of guidance for users along the way, allowing WTP to get organizations up and running with just a two-hour training session. But as with all younger solution providers, there areas for growth, as well, including a few opportunities that could further support WTP’s preference for a self-service deployment approach.

Part 1 of this brief provided some background on What’s the Price and an overview of its offering. In Part 2, we provide a breakdown of what is comparatively good (and not so good) about the solution, a high-level SWOT analysis and a short selection requirements checklist that outlines the typical company for which WTP might be a good fit. We also give some final conclusions and takeaways.

What’s the Price: Vendor Introduction (Part 1 — Background and Solution Overview) [PRO]

Successful supplier negotiations begin long before a category manager sits down at the negotiating table, physical or virtual. Effectively sourcing a product or component requires an understanding of the fundamentals driving a category, the competitive dynamics in a given industry, and a negotiation strategy based on realistic prices or savings that procurement hopes to attain.

But more often than not, determining how much something should cost — that is, what procurement should realistically pay for goods or services — is a process supported more by guesswork than by data science. And building such models can be time-consuming: Cost engineers creating clean-sheet calculations of a product’s likely cost often take weeks before coming back with an estimate.

What’s the Price, in contrast, can deliver an estimated price in less than five minutes — for any category, industry or product.

That may sound a bit like magic, and from an end user’s perspective, it can feel that way. But beneath the hood, WTP, a five-year-old Dutch vendor founded by two former senior procurement professionals, relies on a straightforward approach, underpinned by a smart application of big data.

WTP aggregates prices and cost drivers across hundreds of thousands of mostly public data sources to produce top-down estimates for commodity prices, industry cost structures and product cost models. The result is a fast and reasonably accurate expected market price that procurement can use to set the stage in supplier negotiations, putting the buy side on stronger footing against price increases or “black box” quotes from sales reps.

Part 1 of this Spend Matters PRO Vendor Introduction offers an overview of What’s the Price and its capabilities. Part 2 includes a look at WTP’s product strengths and weaknesses, a company SWOT analysis, and a selection requirements checklist for those that might consider the provider.

Commodities Roundup: Palladium soars; steel slides; auto tariffs loom over U.S.-E.U. trade talks

For the buyers and category managers out there, especially those of you deep in the weeds of buying and managing commodities, here’s a quick rundown of news and thoughts from particular commodity markets. MetalMiner, a sister site of ours, scours the landscape for what matters. This week:

Mintec: Vendor Introduction (Part 2 — Positives and Negatives, SWOT Analysis, Selection Checklist) [PRO]

As we indicated in Part 1 of this Spend Matters Vendor Introduction of Mintec, there is no WaaS (weather-as-a-service) and, as a result, commodity price volatility in the agricultural sector is here to stay for the foreseeable future. But procurement professionals have to manage it somehow, and the only solution they have now is commodity market intelligence, of which Mintec is one of the largest, and oldest, market-intelligence providers in the sector.

With a database of over 14,000 unique market data sets across 20+ commodity categories and truly global geographies, Mintec is the go-to source for many large agricultural buying organizations around the world.

Should they be your go-to source too?

In this second part of our introduction, we’ll look at the positives and negatives and provide an overall SWOT and a selection checklist — all of which can help you make an informed decision.