Platts to align weekly and monthly average calculation methodology

Platts, part of S&P Global Commodity Insights, will update how it calculates weekly and monthly averages to use the closing value from each publishing day during the relevant averaging period, effective June 19, 2023.

This alignment is part of ongoing efforts to ensure consistent methodology application across commodities and follows a proposal note published April 21, 2023.

Currently, Platts calculates certain weekly and monthly averages by averaging the high and low values of the published prices separately, and then calculating a midpoint of these resulting values. Instead, Platts will align all averages to calculate the high, low and midpoint averages separately during the averaging period. Platts has calculated that this change will have a negligible impact on resulting values.

The change will affect some published prices across agriculture, chemicals and metals. A list of affected symbols is available here.

For more information about affected averages, please contact pricegroup@spglobal.com.

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

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