Date: Mar 5, 2019
Fastmarkets AMM is proposing to implement deadlines for data submissions to its steel, non-ferrous scrap, minor metals and ferro-alloys prices in order to increase production efficiencies and bring pricing practices in the United States in line with global company standards.For price assessments that currently do not have a specified cut off for data submissions, the new deadline will be 4pm New York time on the day the price is scheduled to be updated, with prices to be published by 5pm.
Data received after 4pm will not be included in the calculation of the corresponding assessment. Only deals or trades, bids and offers submitted and market participants’ own assessments communicated to Fastmarkets AMM prior to the deadline will be included. The assessments are reflective of the data gathered since the publication of the previous price.
The consultation period for this proposal will run from Wednesday February 27 until March 29; an update to this notice will be published on the end date.
This change affects assessments for US steel, non-ferrous scrap, minor metals and ferro-alloys prices, as listed in the current methodology documents here.
