Price data: How to use it

How Fastmarkets price data can help you in contract negotiation

Negotiate with confidence

In the complex landscape of contract negotiations, the integration of verified price data offers both parties (buyer and seller) a gateway to a dynamic and responsive pricing framework. By utilizing unbiased and market-reflective pricing information, organizations can forge agreements that adapt in real-time, mirroring the fluidity of commodity costs as they fluctuate over time. Yet, beyond mere adaptability lies a deeper imperative: the mitigation of financial risk. 

If you’re a procurer or a buyer, our prices can help you conduct thorough cost analysis. By understanding the current market prices for goods or services, you will be able to develop realistic budgets, estimate the total cost of ownership and assess the financial feasibility of the procurement. More specifically, you will be able to benchmark and compare prices offered by different suppliers. This will enable you to negotiate from a position of strength, ensuring that the contracted prices are competitive and in line with industry standards. 

Understanding price trends and fluctuations in the market will help you identify and manage risk. You will be able to negotiate contracts that include mechanisms for adjusting prices based on changes in market conditions, protecting your organization from unexpected cost increases. 

If you’re a seller or a trader, you can use Fastmarkets price data to maximize profitability. Knowing the prevailing market prices will allow you to position your offerings competitively and capture market share. You will be able to use our historical pricing information and competitive benchmarks to justify your pricing and negotiate favorable terms with buyers. 

Our price data is unbiased, verified and IOSCO-compliant. Want to learn more about how we can help you? Get in contact today

Here’s a step-by-step guide on how to incorporate commodity price data and price indices into a contract:

By incorporating these elements into a contract, both parties can benefit from a more flexible and adaptive pricing structure that reflects changes in the cost of commodities over time. Financial risk can only be mitigated by having access to a granular analysis of local markets and their impact on global trade.

Whether you are a procurer, buyer or seller, you’ll find that challenges in managing financial risk are growing, and so is the need for more clarity and transparency within the commodity markets.

Fastmarkets prices are market-reflective, assessing both the buy- and sell-side of transactions and are intended to be used as price references for negotiation and in physical spot and future contracts, as well as the settlement price of financial derivatives. Our price data is unbiased, verified and IOSCO-compliant.

To learn more about how we can help you, speak to us today

Fastmarkets combines the commodity intelligence of these familiar names:

Metal Bulletin • American Metal Market • Scrap Price Bulletin • Industrial Minerals • RISI • FOEX • The Jacobsen • Agricensus • Random Lengths • FastMarkets and more

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Whether you’re interested in learning how to become a customer from our sales teams or looking to get in touch with one of our reporters, we’re here for you.

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Why use a price reporting agency?

Navigate uncertainty and make business decisions with confidence using our price data, forecasts and critical intelligence.

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