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

Platts, part of S&P Global Commodity Insights, has lengthened the final state pricing period for the US Aluminum Market on Close assessment process (MOC) to five minutes, up from two minutes previously, 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 is 15:55 ET, from 15:58 ET previously, and any price changes will 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, 2024 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.

A decision on the proposal was announced in a Jan. 14 notification published here: https://www.spglobal.com/commodity-insights/en/pricing-benchmarks/our-methodology/subscriber-notes/011425-platts-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.