Platts to lengthen US aluminum MOC final state pricing period to five minutes

Platts, part of S&P Global Commodity Insights, will lengthen the final state pricing period for the US Aluminum Market on Close assessment process (MOC) to five minutes, up from the current two minutes, effective Feb. 12, 2025.

The final state pricing period is the time during which there can be no more price changes for MOC indications. Lengthening the final state aligns it to the price change increment timing of a minimum of five minutes between changes.

In practice, this means the cut-off for any MOC indication price changes will move earlier to 15:55 ET, from the current 15:58 ET, and any price changes would need to be received prior to 15:55 ET in order to be published.

The full MOC timing and increment guidelines can be found here: https://www.spglobal.com/commodityinsights/PlattsContent/_assets/_files/en/our-methodology/methodology-specifications/metals_timing_increment_guidelines.pdf.

The final state pricing period extension was first proposed Dec. 20 in the notification published here: https://www.spglobal.com/commodity-insights/en/pricing-benchmarks/our-methodology/subscriber-notes/122024-platts-proposes-to-lengthen-us-aluminum-moc-final-state-pricing-period-to-five-minutes.

Platts publishes bids, offers, and interest to trade in the US Aluminum MOC Process that adhere to the editorial standards and guidelines outlined in the assessment methodology found here: https://www.spglobal.com/commodityinsights/plattscontent/_assets/_files/en/our-methodology/methodology-specifications/platts-assessments-methodology-guide.pdf.

For more information on Platts MOC publishing principles, please visit our methodologies: https://www.spglobal.com/commodity-insights/en/pricing-benchmarks/our-methodology/assessment-methodologies.

Entities interested in being reviewed for participation in the transparent Platts MOC assessment process can request review here: https://www.spglobal.com/commodity-insights/en/forms/terms-conditions/moc-participation-review-request.

Please send all comments and questions to aluminum@spglobal.com and pricegroup@spglobal.com .

For written comments, please provide a clear indication if comments are not intended for publication by Platts for public viewing. Platts will consider all comments received and will make comments not marked as confidential available upon request.