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blankseplocked Introducing the Jita Mineral Index
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Posted - 2008.08.09 20:30:00 - [1]


Pleased to introduce the Jita Mineral Index. The JMI focuses on current mineral prices located within the Jita system.

Unlike other mineral indexes, the purpose of the JMI isn't to let you know what the best or lowest mineral price is, but rather it is focused on manufactures looking to estimate their build costs. For build costs, you always want a kind of worse-case scenario. It is always nice to be under your build costs, but you never want to go over. If you absolutely had to buy all your minerals then Jita would be the most likely place where you get all of them in one location and in quantity. If you based your profit/cost calculations on Jita prices, you know you could still turn a profit.

Additionally, the JMI doesn't just look at the lowest price available. The "best price" often ignores quantity. You don't know whether there is 1k, 1m, or 100m available at that price. The JMI bases its figures off the 99th percentile of available quantities. We take all the current orders in Jita, sort them by price, and then step through the orders until we've reached 1% of the total available quantity. And then we step through additional orders until the price changes, as there may be multiple orders at the same price. With this, we can say that there is 392m units of Tritanium at 2.8cpu (or below) out of a total of 8.8b.

Furthermore, the JMI is actually made up of 2 sets of mineral prices. One is based on current sell orders and the other is based on current buy orders. Looking to sell some minerals? Compare what you could get locally with the rate and Jita and see if it might be worth while to haul it in. Building something on thin margins? With the buyer index, could see if it would be better to sell your minerals than build the item. :) The sellers index is the bottom 1% of the price range, while the buyers index is the top 1% of the price range.

On top of all that, the JMI also features and easy to use XML and JSON API to allow you to pull the figures into your own application! We've also submitted a patch to the EveMon team which will add the Jita Mineral Index to EveMon's built in Mineral Worksheet.

Finally, would like to thank Eve-Central, their mail-push service makes this all possible. Also thank my corp, CORE, for their help with brainstorming, testing, and support. If you like the service and find it useful, please show your support by telling others, submitting logs to Eve-Central, or if you really want, send ISKs. :) We always try to export prices for The Forge right be 00:00 Eve Time, but extra supporters would always be great!

Rhetorical Devices
Posted - 2008.08.09 21:33:00 - [2]

Nice. Like the fact that you give price & volume for the top 1%.

Posted - 2008.08.09 23:04:00 - [3]

thank you :)

Quiet Gemini
Deep Core Mining Inc.
Posted - 2008.08.11 01:07:00 - [4]

I'm loving this. Any thoughts on expanding this? Including POS fuel would be cool.

Thanks for the tool :).

Aeon Lance
Posted - 2008.08.11 01:31:00 - [5]

Haven't been playing that long but why Jita? What makes Jita prices the worst case scenario?

Grarr Dexx
The G0dfathers
Posted - 2008.08.11 02:09:00 - [6]

Jita is the largest tradehub and will therefor present you with the best average and the most accurate fluctuations.

Posted - 2008.08.11 04:24:00 - [7]

Originally by: Grarr Dexx
Jita is the largest tradehub and will therefor present you with the best average and the most accurate fluctuations.

What Grarr said. :) Jita doesn't have the worse prices, but rather it is the biggest hub, so it has the best baseline prices, and these make for a good worse-case for build costs. Jita has all the minerals and in bulk available in one place.

As for POS fuels, I'll work at adding POS fuels, that sounds like a good idea and I'll work on adding that. I'm also working on adding some historical price tracking, for things like graphical price history and quantity/price dispersion.

Posted - 2008.08.11 04:33:00 - [8]

Very nice. Makes me wish I was able to manufacture anything so I could use it :(

Krylon Rhae
Posted - 2008.08.11 07:32:00 - [9]

Really enterprising... thanks so much for devoting the time and energy.

Now if someone more intelligent then myself could create one for all of the major hubs then we will all be smokin' Very Happy

Aiden Bismuth
Posted - 2008.08.11 07:47:00 - [10]

Edited by: Aiden Bismuth on 11/08/2008 07:47:16
Thanks, this helps me perform my corp duties that much better, and makes it a bit easier! Very Happy


Lord Fitz
Project Amargosa
Posted - 2008.08.11 11:45:00 - [11]

Yep, this is useful, sort of what I've been doing manually for myself.

While Jita doesn't have the best or worst prices, you know at a bare minimum minerals are worth what you could sell the to buy orders for in Jita, and at a maximum they are worth what you could buy a large quantity of them for in the one highsec place.

Somewhere between those two figures is the 'worth' of the mineral, everything else is simply money made from trading.

Kazuo Ishiguro
House of Marbles
Posted - 2008.08.11 11:52:00 - [12]

Could this be extended to other heavily traded raw materials for the T2 supply chain? i.e.
  • Moon minerals
  • Intermediate materials
  • Advanced materials

tenned ekul
Posted - 2008.08.11 12:55:00 - [13]

Edited by: tenned ekul on 11/08/2008 12:55:44
wow morphite is up 50% in the last month, im thinking minoing it mite be more profitable now.

EDIT: yer well thx 2 the op, is gonna help me loads with starting of my production carea.

Posted - 2008.08.11 13:06:00 - [14]

I have a problem with your xml api !

when I check your sample, you give us :
<?xml version="1.0" encoding="UTF-8"?>
<jitaindex type="sellers" reported_at="2008-08-11T04:19:09+00:00">
<mineral item_id="34" name="Tritanium" price="2.76" volume_at_price="1995348690" volume="10326588179"/>
<mineral item_id="35" name="Pyerite" price="4.56" volume_at_price="80144204" volume="3777503036"/>
<mineral item_id="36" name="Mexallon" price="25.48" volume_at_price="222658583" volume="1012592099"/>
<mineral item_id="37" name="Isogen" price="66.2" volume_at_price="45755255" volume="245229710"/>
<mineral item_id="38" name="Nocxium" price="94.37" volume_at_price="29076446" volume="169032187"/>
<mineral item_id="39" name="Zydrine" price="2498.42" volume_at_price="199555" volume="6944840"/>
<mineral item_id="40" name="Megacyte" price="4199.99" volume_at_price="792739" volume="4594422"/>
<mineral item_id="11399" name="Morphite" price="15957.99" volume_at_price="36533" volume="388518"/>

The 'correct' syntax should be

<?xml version="1.0" encoding="UTF-8"?>
<jitaindex type="sellers" reported_at="2008-08-11T04:19:09+00:00">


by correct I mean this syntax allow correct XPath query, easier integration with spreadsheet like google docs.
What you used are called attributes and are not considered as data.
you could leave the item_ID as an attribute since it's not a relevant data by itself.
the node would look like
<mineral item_id="34">....</mineral>

it's up to you, but of course if you change that, existing application would not work anymore.

thanks for this nice feed any way, it has the quality of being clearer than eve-central ^^

Posted - 2008.08.11 15:06:00 - [15]

XML style is definitely much more about personal taste, as there isn't really a "correct" way.

At work, I work on our REST/XML APIs and our philosophy on attributes vs elements is attributes are read-only data and elements are writable. So attributes are usually ID information, information data, or calculated data. In this API, it is all read-only. That is one way to look at it.

I am not sure about the XPath support in Excel and Google Docs. Do they support full XPath or only partial? If they have full XPath support, you could easily use some of these:

//mineral/@name -- read all mineral names
//mineral/@price -- read all mineral prices
//mineral[@name='Tritanium']/@price -- read the price of Tritanium
//mineral[@item_id='34']/@price -- same as above, but based on ID rather than the name

Luc Ferros
Destructive Influence
IT Alliance
Posted - 2008.08.11 15:18:00 - [16]

any chance you could incorporate ice prices into this as well?

Nido Gentz
Posted - 2008.08.11 15:21:00 - [17]

To the OP: Very nice work. This is a very helpful tool and I appreciate the effort and the information it provides!

Julius Lincinius
Ex Coelis
The Bantam Menace
Posted - 2008.08.11 16:31:00 - [18]

This is an amazingly useful tool. Thanks for all the hard work you put into making it and a willingness to share it as well.

Systematic Mercantilism
Posted - 2008.08.11 18:29:00 - [19]

Thank you, pure awesomeness!


QUANT Hegemony
Posted - 2008.08.11 18:44:00 - [20]

Edited by: Pwett on 11/08/2008 18:46:31
Nice work, it's always good to have more indices.

/edit: Didn't see the eve-central source.

Tax Ordeus
Posted - 2008.08.11 18:48:00 - [21]

You've got some errors in your historical data. It's saying 30 days ago the buy prices for Tritanium and Pyerite are higher than the sell prices:

Tritanium 30 day buy: 2.92
Tritanium 30 day sell: 2.88
Pyerite 30 day buy: 4.60
Pyerite 30 day sell: 4.55

Also Zydrine and Morphite look wrong in the 7 day history.

Posted - 2008.08.11 19:10:00 - [22]

Eve-Central is mentioned/linked to on the about page, though I'll probably add them to the footer as well.

As for the historical data, a lot of that focuses on during the span of the day, and not at the end of the day. The historical data was based off of the Eve-Central daily dumps, so with them it is a bit harder to know if an order is still available or not. When processing with the mail push, I know that all other orders for that item and region that aren't in the new data have been fulfilled, but with the dumps, there could be multiple reports per day and it just does them all in one stream. So 7 days ago, at some point during the day there was a buy order that was higher than the lowest buy order of that day.

Overall, I wasn't too concerned, as it still represents price data for that day. I might go back and visit some of it, but when I initially imported a bunch of the data, I was doing a lot of other processing for some other reports I've written, so that initial scan/import of 60 day worth of data took about 80 hours. I have a DB with about 20 million records that I do some other analysis on. I may go back and trim it down so I can get more accurate figures from before the public release of the index, since some of the future stuff I am planning could benefit from it.

Imperial Retirement Home
Posted - 2008.08.11 20:12:00 - [23]

Aye similar to ours

I was hoping somebody would sort a Jita only version :)

Rhetorical Devices
Posted - 2008.08.12 08:17:00 - [24]

Originally by: Grr
Aye similar to ours

I was hoping somebody would sort a Jita only version :)

Would you consider adding the date/time of the last data generation to the page? I have stumbled across some mineral indexes that looked like they were very out of date, and no easy way to tell.

Absimi Liard
Vertical Industrial Partners Limited
Posted - 2008.08.12 12:33:00 - [25]

Originally by: Grr
Aye similar to ours

I was hoping somebody would sort a Jita only version :)

I'm very happy to have discovered both of these indices. If they seem stable enough I may choose to start offering prices based on them. (currently I pass all costs to my customers and simply build for Cost +5% profit for myself)


Ascendant Rogues
Posted - 2008.08.12 17:31:00 - [26]

Kudos dude, really helpful, appreciate it ^_^

Infinitus Sapientia
Posted - 2008.08.12 20:15:00 - [27]

sweet tool Very Happy & fairly good methodology for determining price.

some graphs would be neat too.

unfortunately, the data is from eve central :(

Eve Goetterdaemmerung
Posted - 2008.08.12 21:04:00 - [28]

Nice, but that index covers only 80% of the inputs for industrial production! Confused
What about the moon minerals? Rolling Eyes
To produce T2 ships you need ship components, which are produced from advanced materials, which are produced from processed materials, which are produced from moon minerals (and not from minerals!!!).
The same is true for any T2 equipment, because they are produced from advanced materials (a.s.o.)
And dont underestimate the market for T2 stuff, because most advanced players only use T2 and faction stuff (and they are the players with the money Cool )
So its nice to have such an indicator, but we also need a second indicator for moon minerals and / or an indicator that includes both.
Eve G.

Posted - 2008.08.12 21:35:00 - [29]

I am working on some changes so that I can track the price of just about anything and update it as the logs come in from Eve-Central. Then I can create targeted pages for minerals, fuel, etc.

Deep Core Mining Inc.
Posted - 2008.08.13 00:55:00 - [30]

This will be interesting for market speculation

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