Background to Fastmarkets IM price assessments and
Fastmarkets IM, aims to provide leading pricing intelligence, including independent industry benchmarks for the minerals industry. The global portfolio of news, analysis, conferences and insight services complement these price benchmarks.
Fastmarkets IM, as the leading global provider of information and prices for the industrial minerals markets, has been producing price assessments since the 1980s. We employ a team of reporters located in Europe, Asia and North America to cover a wide variety of markets across the world.
Our reporters are required to abide by a code of conduct and clear pricing procedures during their market reporting and pricing activities. Fastmarkets IM is completely independent and has no vested commercial interest in any of the markets it prices.If you would like to contribute to Fastmarkets IMs pricing, or have comments on the grades, specifications and prices that we publish, feel free to contact us.
To view Fastmarkets IM's Methodology and Price Specifications, click here.
Our pricing principles
Data collection criteria: Fastmarkets IM reporters aim to talk to a broad sample of market participants specifically involved in the buying and selling of the mineral of interest, with a good representation of both sides of the market. All input data received is kept confidential and stored in a secure network.
Price specifications and reference units: Fastmarkets IM specifications detail the materials characteristics or quality, location and the incoterm accepted. All the reference units, such as currency and volume, are in line with recognized metals markets trading conventions. Reporters ensure that the information they receive matches these specifications.
Guidelines that control the exercise of judgment by price reporters during the assessment process: To produce the price assessment, greater weighting is generally given to actual concluded transaction data. Bids/offers are second in order of importance, followed by data sources own assessment of the market when they have no business to report. Fastmarkets IM seeks price information for trades with a relevant minimum lot size. When volume information is available, this is also taken into consideration in the assessment process. A pricing session typically includes bids/offers, contributors assessment as well as concluded transactions. This means that market data will typically be contributed by several separate sources and that there is no key submitter dependency. However, should a significant proportion of the data (defined as more than 50% of the data points) on which to base the assessment be provided by a single source, the reporter, peer reviewer and the senior editorial person signing-off the price prior to publication will analyse the data and consider if the assessment should be published based on the data collected or rather not to move the price and roll it over from the previous session.
Data normalisation: Occasionally Fastmarkets IM might receive price data for material where specifications differ in some element from our specifications. In such cases, when appropriate, we will normalize data.
Criteria to discard pricing data: Fastmarkets IM will use its expert judgment to exclude outlying or unrepresentative numbers, and discount or discard prices that it believes may otherwise be questionable and unreliable.
Procedure to ensure consistency in the price discovery procedures: All Fastmarkets IM price assessments are set by a first reporter who covers that specific market, peer reviewed by a second reporter, and always signed-off and approved by a senior reporter or editor prior to publication. Price reporters are formally trained in the price discovery process and must abide by a written Code of Conduct and Pricing Procedures.Publication of the price assessment: At the end of the pricing session, from the information that Fastmarkets IM receives and reviews it sets a price range, to reflect the representative spread of prices at which business has been transacted, offered or bid.
Questions about Fastmarkets IM prices?
In the event that market participants or observers have further questions about Fastmarkets IM prices, they should feel free to contact Fastmarkets IM pricing team at firstname.lastname@example.org.