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Fastmarkets price name standardization

FAQs

Q: Why has the name of my price(s) changed?

A: For ease of use and greater transparency we have standardized the names of our metals and minerals prices across our product suite. 

All prices will now follow this structure, where possible: commodity + product/grade + incoterm + location + currency + unit of measure

The aim of this exercise is to make it as easy as possible for you to identify and use our pricing data. 

Q: When does this change take place?

A: This change takes place on July 5th 2019.

Q: Has the methodology changed?

A: No. These changes are to the description of the price only. All price-discovery methodologies remain unchanged. We will, however, update our price methodology documents to reflect the standardized price names.

Q: How can I find the price(s) I use?

A: Please use the standardized price lists (PDFs) at the bottom of this page that provide a handy reference guide for the old vs new names. 

If you cannot find what you are looking for please contact our customer success team today via email: customersuccess@fastmarkets.com or tel: +44 (0)20 7779 8787 (EMEA), +65 64 221 478 (Asia) and +1 312 366 2542 (Americas).

Q: What do I do if I use your price(s) in my contracts?

A: Please update the name to the new name at your earliest convenience.

Please direct any counterparties with queries to this page or our customer success team.

Q: The name of the price used to start with location first but now that’s at the end - why?

A: The location remains part of the price name - its position in the name has simply changed because we have reordered the components to standardize all our prices.

Q: Have the incoterms changed on prices? 

A: Incoterms remain unchanged. We have used abbreviations where possible to shorten the length of the name e.g. ‘in warehouse’ is now ‘in-whs’

Please note that the name of the price does not replace the full specifications as outlined in our methodology documents. These documents can be found at https://www.fastmarkets.com/about-us/methodology

Q What is the symbol displayed next to my price on the standardized name lists?

A: We’ve added a unique identifier code to all of our proprietary prices to enable you to identify our prices going forward.

Standardized price lists