Coverage Note: Random Lengths proposes to simplify monthly average calculation

With effect from September 2020, Random Lengths is proposing to simplify the process for calculating monthly averages.

Monthly averages appear in the Random Lengths weekly publication and in Yardstick. Currently they are calculated using the ISO 8601 rule, whereby the first week of the year is the week containing the first Thursday. In determining monthly averages, Random Lengths expands that rule, so the first week of a month is the week that contains the first Thursday of the month.

From September, Random Lengths proposes to use the simple arithmetic average of all prices published in the calendar month to calculate the monthly averages. This should not affect calculations for the rest of 2020, but may impact the averages in 2021 if the first day of the month falls on a Friday.

At the same time, Random Lengths will move to publishing lumber prices online with the actual date of assessment (usually a Thursday) rather than the date of the weekly publication (Friday’s date). This approach is more consistent with other parts of the Fastmarkets business.

To see Random Lengths pricing methodologies and specification documents visit www.randomlengths.com/Methodology.

To provide feedback on this notice, please contact Matt Graves at pricing.risi@fastmarkets.com no later than August 31st. Please add the subject heading ‘FAO: Matt Graves re: Random Lengths Monthly Averages.’

What to read next
To increase transparency, Fastmarkets has further clarified how it handles price movements during periods of low liquidity. Factors that Fastmarkets may consider during times of low liquidity include, but are not limited to: market fundamentals such as changes in inventory levels, shipments, operating rates and export volumes; relative fundamentals of similar commodities in the same […]
Fastmarkets invited feedback from the industry on the pricing methodology for PIX Packaging GCC indices via an open consultation process between April 16 and May 14, 2025. This consultation was done as part of our published annual methodology review process. Full details of the prices covered by this consultation can be found here. No feedback […]
Fastmarkets is inviting feedback from the industry on the pricing methodology for the PIX Forest Biomass Finland price indices, as part of its announced annual methodology review process. This consultation, which is open until June 12, 2025, seeks to ensure that our methodologies continue to reflect the physical market under indexation, in compliance with the […]
The publication of the following price was delayed for 10 minutes: MB-ALU-0002 Alumina index, fob Australia, $/tonne This price is a part of the Fastmarkets Base Metals package. For more information or to provide feedback on the delayed publication of this price or if you would like to provide price information by becoming a data submitter […]
Fastmarkets proposes to amend the frequency of Taiwan base metals prices from biweekly to monthly, and the delivery timing for the tin 99.99% ingot premium from two weeks to four weeks.
The prices in question are: MB-STE-0100 Steel scrap, HMS 1&2 (80:20 mix), export, fob main port UK, $ per tonneMB-STE-0099 Steel scrap shredded, export, fob main port UK, $ per tonneMB-STE-0095 Steel scrap shredded, import, cfr delivered Turkish port, $ per tonneMB-STE-0420 Steel scrap, HMS 1&2 (80:20 mix), fob Rotterdam, $ per tonne. Increasing the frequency of assessment of […]