globalORE Information

Founded and utilised by global industry leaders from the mining, steel manufacturing and physical commodity trading sectors – including Baosteel, BHP, China Minmetals, Glencore, Rio Tinto, Vale and Valin Steel – globalORE is the leading B2B e-commerce solution for industrial raw materials trading and price discovery. Our aim is to be the missing piece of the puzzle through which the real economy comes together to improve confidence in the accuracy and integrity of transaction data underpinning robust physically representative journalistic commodity price benchmarks. A trusted, neutral, collaboratively-mined social enterprise built ‘by industry for industry’, all prices quoted via our marketplace: ∞ represent ‘firm’ tradable real-time bids and offers; ∞ for internationally recognized physical raw materials brands, qualities and origins; ∞ which are final and binding from the moment executed on-screen; ∞ reflecting actual transactions entered into and prices paid by industrial raw material buyers and sellers in the real economy. For parties who transact via globalORE, transparency and broad contestability gives confidence that prices struck are fair and reasonable, and practically won’t deviate greatly from commodity price benchmarks underpinning long-term supply contracts. As speculative interest in globally traded commodities intensifies, we fill a gap between: (a) hugely liquid, highly standardised and volatile commodity futures markets; (b) traditionally opaque bilateral raw materials contracting practices; and (c) journalistic commodity Price Reporting Agencies. Headquartered in Singapore, globalORE data routinely underpins many of today’s most widely referenced north Asian iron ore price benchmarks.