Change to FX spot rates within Fastmarkets products: price notice

As of May 9, 2023, Fastmarkets will improve the foreign exchange (FX) spot rates published on the Fastmarkets Dashboard and in the Scrap Settlement PDF.

The improvements are as follows:

  • From May 9, 2023, clients can view the end-of-day historical FX rate used in any currency conversion they carry out on the Dashboard. By viewing the appropriate FX rate in a Historic Price Table widget, they can see what the rate was on a particular date. Clients should use the Close Bid field — this is the rate taken at or as close to 00:00 UTC.  
  • Within the Daily Scrap Settlement PDF, as per the announcement recently published, the source will change for FX, but the rates will remain consistent. The enhancement will allow clients to see the same FX spot rates within their Dashboard too. Clients can use a Historic Price Table widget and view the previous day’s date, then select the field Close Bid London — the rate that is taken at or as close to 16:00 London time. This is a synthetic close rate taken at the end of the European market day, and it will match the price in the PDF.

To provide feedback on this proposal, or if you would like to provide price information by becoming a data submitter, please contact Sean Barry at pricing@fastmarkets.com. Please add the subject heading: “FAO: Sean Barry re: FX spot rates.”

To see all of Fastmarkets’ pricing methodology and specification documents, go to https://www.fastmarkets.com/methodology.

What to read next
Under the proposal, less-frequent price assessments that fall on Chinese public holidays will be published on the nearest working day. The prices are being skipped according to the currently pricing holiday schedule. Fortnightly and monthly prices that fall on Chinese public holidays will be assessed and published on the closest working day in the same […]
Fastmarkets has decided not to proceed with the proposed launch of inferred net prices for the PIX Pulp NBSK and PIX Pulp BHKP indices in Europe at this time. After assessing market feedback, Fastmarkets has determined that current circumstances do not make the launch of inferred net prices viable. Throughout this process, Fastmarkets has continued […]
This consultation was done as part of our annual methodology review process. This notice was delayed past its original May 2 schedule. No feedback was received during the consultation period and therefore no changes will be made to the methodology at this stage. This consultation sought to ensure that our methodologies continue to reflect the […]
The publication of Fastmarkets’ assessments of Shanghai bonded aluminium, zinc and nickel stocks for April 30 were delayed because of a reporter error. Fastmarkets’ pricing database has been updated. The data effective for April 30 was published on May 7 as a result. The following assessments were affected:Shanghai aluminium bonded stocksShanghai zinc bonded stocksShanghai nickel […]
After a consultation period, Fastmarkets has launched a soap stock acid oil price assessment to add value to the current European biofuel feedstocks assessment complex and contribute to overall market transparency in the industry. AG-SAO-0001 Soap stock acid oil CIF Amsterdam, Rotterdam, Antwerp, $/tonneQuality: Free fatty acids (FFA) max. 80%, moisture, impurities and unsaponifiable matter (MIU) […]
The rationale for MB-LI-0012 spodumene min 6% Li2O, spot price, cif China, had erroneously stated that “Spodumene prices declined this session, amid continued weakness in lithium carbonate prices on the Guangzhou Futures Exchange (GFEX).” This has been corrected to “Spodumene prices declined this session, due to weakness in lithium markets and ongoing bearish sentiment.” The published price […]