Platts price index is set by Platts. Platts energy information and credit rating agency Standard & Poor's belong to McGonagall Group. According to media reports, Platts Energy Information is the world's leading provider of energy, petrochemical and steel information, and an important institution for evaluating benchmark prices in the spot market and futures market. These information include: carbon emissions, coal, electricity, oil, natural gas, steel, nuclear energy, petrochemical and maritime markets, which have affected energy enterprises in more than 50 countries around the world. Platts Energy Information's valuation of iron ore has become the basis of global iron ore pricing; Its valuation of crude oil is adopted by the international crude oil market and becomes the basis of trading and pricing; It is also expanding its influence in coking coal, alumina and shipping markets.

Platts price index was launched in June 2008. Although the time is not long, it is still the longest among the three major iron ore indexes, so it is more easily accepted by buyers and sellers.