Is it possible to have price list as a function of say item Property?

Hi, there is a need for our customer to have a price list based as a function of item metal content. For example certain items have 900 grams and others have 750 grams of say copper content. Whenever the price of copper changes or once every month, they would like to recalibrate the price based on copper market price.
The metal contents is not really variable for different products, it is one of possible say 5 sets of values. 750grams, 900 grams, 1100 grams or 3000 grams etc.
The question is should I use items properties say property 64 for 750grams one, property 63 for 900 grams one etc.
If I use the properties, then can I calculate special price based as following function:
ItemPrice=Base Price + ItemPropertyNN * market value of copper
Where Item PropertyNN= item Property 64 or Item Property 63 or Item Property 62 etc. Only one of them will be populated for each produce based upon the metal content.
To summarise : How can I make a price list, a function of item metal content? I thought of above by using item properties, but I still can not make the price list a function of the item property. Is there a way?
Thanks a million!!

Hi,
Item group would be a better way to classify items. Especially for price list.  Try it.
Thanks,
Gordon

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