What do the Commodities Indices track?
They track the evolution of commodities prices. The development of the indices was started by COTREL, the Committee of Associations of European Transformer Contributing Parties. These indices fall in the scope of work of T&D Europe’s Transformers Working Group. The published indices use publicly available data from national statistical offices as well as data provided by participating organisations, which are not otherwise made available. An independent service provider provides statistical services to T&D Europe in compilation of these Commodities Indices.
What Commodities are covered?
They cover the following materials:
- GOES: Conventional Grade = GOES products with a core loss > 1.05 W/kg
- GOES: High Grade = GOES products with a core loss ≥ 1.05 and ≥ 0.9 W/kg
- GOES: Super High Grade = GOES products with a core loss < 0.9 W/kg
- Mineral Insulating Oil for Transformers corresponding to IEC 60296
- Compressed Paper and Cardboards dedicated to electrotechnical application according IEC standard 60 641-1-2-3
- Hot Steel
- Cold Steel
When are they published?
At the end of each month, we publish the indices for the previous month. For example, the indices for February 2023 are published at the end of March 2023.
Is it possible that the indices do not correspond exactly to the price of a single commodity provider?
They do not track any particular source. They cover the range of sources used by the contributing organisations.
How do I interpret and read the indices?
The indices show the development of commodity prices. For example, the index for mineral oil in August 2022 of 178.159 means an increase of 78 percentage points compared to April 2017. Each data series has a reference date at which all input values were set at 1.0 and subsequent figures reflect the variation from that date.
In which currency are the contributing organisation reporting their numbers?
In March 2023, all except for one of the contributing organisations who replied to a request for information said they were reporting in Euro.
We noticed GOES High Grade is not duly updated into your publications Are you planning to update it soon? Or is this going to be replaced by GOES Super High Grade?
We are unable to report indices on High Grade GOES because the number of companies that are reporting has fallen below the minimum number required by our procedures. This measure is to ensure that commercially sensitive information cannot be inferred from the indices. We are working to introduce new reporting companies but regret that we cannot advise when the series will restart.
You can download more information in our internal procedure below and find our Commodity Indices here.