Fill out the form below to download PwC's independent assurance report and the description of Fastmarkets' policies and procedures.

By submitting this form you are agreeing to PwC's 2019 terms and conditions.

Fastmarkets continues to expand IOSCO coverage having completed another independent review of 13 price assessments and indices

Fastmarkets, a leading source of pricing data for the global commodity markets, announced today that another assurance engagement has successfully concluded, measuring its alignment to the standards defined by the International Organization of Securities Commission’s (IOSCO) within the Principles for Oil Price Reporting Agencies (PRAs). PricewaterhouseCoopers LLP (PwC) has carried out an independent external assurance review of 13 price assessments and indices to examine Fastmarkets’ responses to the IOSCO Principles.

The following price assessments and indices were included in the scope of the assurance and received a 12-month re-validation: 

  • Aluminium P1020A premium, in-whs dup Rotterdam; and
  • Iron ore 62% Fe fines, cfr Qingdao. 

The prices below were validated over a 12-month period for the first time: 

  • Aluminium P1020A premium, in-whs dp Rotterdam; 
  • Aluminium P1020A (MJP) spot premium, cif Japan; 
  • Alumina index, fob Australia; 
  • Cobalt standard grade, in-whs Rotterdam; 
  • Copper grade A cathode premium, cif Shanghai; 
  • Iron ore 65% Fe Brazil-origin fines, cfr Qingdao; 
  • Iron ore 66% Fe concentrate, cfr Qingdao; 
  • Lithium carbonate 99.5% Li2CO3 min, battery grade, spot prices cif China, Japan & Korea; 
  • Lithium carbonate 99.5% Li2CO3 min, battery grade, spot price range exw domestic China; 
  • Lithium hydroxide monohydrate 56.5% LiOH.H2O min, battery grade, spot price cif China, Japan & Korea; and 
  • Lithium hydroxide monohydrate 56.5% LiOH.H2O min, battery grade, spot price range exw domestic China.

The review process is an arduous one, examining relevant aspects of internal processes to ensure their quality and integrity. The Principles seek to hold PRAs accountable to providing reliable, impartial, representative and transparent benchmarks for the market to use in physical trading, risk management, analysis and planning purposes.

An external assurance engagement on a PRA’s implementation of policies and activities to comply with the IOSCO Principles can either focus on the effective implementation at a specific point in time or on the effective implementation and operation over a period of time. PwC has completed the latter form of engagement, subjecting Fastmarkets to a greater level of scrutiny of processes and controls over a 12-month period.

“In today’s global economy, it’s important that our customers understand our commitment to providing them with transparent, auditable prices, news and forecasts,” said Fastmarkets CEO Raju Daswani. “We continue to take careful, well-measured steps forward. Completing this assurance engagement, which examined our responses to the Principles over a 12-month period, is a major milestone and is recognition of the integrity of our processes and controls.”


Fastmarkets has invested significantly in resources and technology to ensure its price assessment process aligns with IOSCO Principles. Learn how we do this by watching the video below:

Copyright 2019 Fastmarkets

View Fastmarkets’ pricing methodology/specifications


For further enquiries, please contact: hello@fastmarkets.com