Conclusion of open consultation on calculation of averages on the Fastmarkets platform

Following a six-week consultation period, Fastmarkets can confirm it will amend the calculation method for all the average functions on the Fastmarkets platform from Wednesday March 1, 2023.

To align with market convention, Fastmarkets proposed to change the platform average function to represent the monthly average of the midpoint of each pricing session during the month.

Currently, the average function, when used for assessments, calculates the midpoint of the monthly average high assessment and monthly average low assessment.

By the end of the consultation on January 24, no feedback had been received, so Fastmarkets will implement the planned changes on all average calculations (weekly, monthly, quarterly and annual). For technical reasons, however, the changes will come into effect on Wednesday March 1, rather than on Wednesday February 1 as suggested on December 2022.

Although the new platform average function calculation may result in a difference of +/- 0.01 when calculating averages to two decimal places, it will typically be no higher or lower. No averages will be retrospectively changed.

To provide feedback on this decision, please contact adding the subject heading: “FAO: Chris Ellis re: Average pricing calculations.”

To see all of Fastmarkets’ pricing methodology and specification documents, go to

What to read next
Fastmarkets proposes to amend the frequency of its aluminium P1020A premium, ddp Midwest US from twice-weekly to daily.
Fastmarkets amends the frequency of its spodumene min 6% Li2O, spot price, cif China from Wednesday December 6.
The consumption of steel scrap in the United Arab Emirates (UAE) was expected to rise sharply in the coming years amid expansions in steelmaker capacities to feed greater steel demand
Some cathode makers have been switching back to lower-nickel cobalt manganese (NCM) from high-nickel NCM cathodes to reduce costs and encourage consumers amid slowing demand for electric vehicles (EVs), Fastmarkets understands
Find out how days before the 2023 United Nations Climate Change Conference (COP28) in Dubai, the World Economic Forum (WEF) outlined three key areas of investment for the global aluminium industry to reach net zero by 2050 – clean energy, emerging technologies and decarbonization infrastructure – but it will require hundreds of billions of dollars
To view and download the schedules please visit: For questions and comments please contact