The initial pricing and news launch focuses on regional project type assessments, differentials, and the Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA). These assessments are set to meet the increasing demand for transparency from industries such as aviation, where the need for robust carbon offsetting solutions is growing rapidly. Further assessments to be released in 2025 will expand the coverage into the wider voluntary carbon market. 

The voluntary carbon markets are crucial for businesses and countries working toward carbon emission reduction targets. However, the voluntary carbon markets can be fragmented, opaque and marked by a lack of transparent pricing. Project type, quality, geography, vintage and co-benefits can all impact the value of a credit, making it difficult for buyers and sellers to navigate the market. Fastmarkets’ new service addresses these challenges by providing reliable, objective and timely information, enabling stakeholders to confidently partake in and benefit from carbon trading. As more companies and countries look to meet their carbon emission reduction targets in the coming years, clear price references across the different project sectors are required to allow the market to scale.  

The granularity in assessments we produce allows for deeper analysis into what is driving the market. While news and insights into policy developments, issuance and retirements, and supply dynamics will keep you informed and allow for more confident decision-making when navigating the voluntary carbon market. 

“In a nascent market that’s full of potential yet marked by complexities, Fastmarkets is committed to elevating transparency,” Fastmarkets CEO Raju Daswani said. “Our comprehensive price references across various project sectors will empower the market to scale efficiently.” 

Sam Carew, strategic markets editor for voluntary carbon at Fastmarkets, added, “Our goal is to deliver granular assessments that provide valuable insights to project developers, industry analysts, and market participants, thus enhancing their ability to manage procurement needs and market trends with precision.” 

Impact and benefits of Fastmarkets’ voluntary carbon pricing and news service  

• Buyers of carbon credits have access to transparent and robust pricing data across multiple projects and regions, allowing for informed procurement decisions and effective management of carbon credit investments

• Project developers receive insights into project-specific areas, helping them anticipate the value of their credits and capitalize on price premiums for differentiated offerings, like native species ARR 

• Market analysts benefit from comprehensive coverage of policy changes, issuance, retirements, and supply trends, providing actionable intelligence for strategic planning  

• Financial managers leverage Fastmarkets’ trusted price references for effective risk management and mark-to-market evaluations for carbon assets 

“Our voluntary carbon prices are set to become the benchmark, providing clear cost visibility across various credit types and helping remove pricing uncertainties,” Carew said. 

This new pricing service complements Fastmarkets’ renowned legacy of offering analytical insights and benchmark data across global commodity markets, including metals, agricultural products, forest products and energy transitions. 

For more information, visit Fastmarkets or email media@fastmarkets.com to connect with the team and find out how Fastmarkets can help you. 

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Today’s launch provides market participants with a new risk management solution in the renewable energy sector. It is also an ideal choice for those looking to gain exposure to UCO price movements without the need for physical delivery.

Fastmarkets’ US Gulf-based UCO assessment reflects the primary market region for UCO trade, capturing the broadest data pool necessary for accurate market pricing. This ensures convergence between the futures price and the spot price at contract expiry, further bolstering confidence in market operations.

“With the increased volumes and diversity of stakeholders in the UCO market, now is the perfect time to introduce a futures contract that can aid in effective risk management,” said Przemek Koralewski, Fastmarkets’ global head of market development. “This contract will provide market participants with a sophisticated tool to manage their price exposure, ensuring stability and supporting long-term strategic planning.”

The launch of the ICE UCO futures contract is designed to support participants across the biofuel supply chain, including feedstock suppliers, refiners, traders, financial institutions and biodiesel producers.

“Liquidity in ICE’s biofuel complex has been growing rapidly over the last few years,” said Jeff Barbuto, global head of oil markets at ICE. “We’re excited to work with Fastmarkets to add to the momentum and further develop the UCO market.”

Ryan Standard, Fastmarkets’ regional managing editor, added: “The ICE UCO futures contract represents a significant advancement in the biofuel feedstock market. By offering a reliable benchmark tied to our comprehensive price assessments, ICE and Fastmarkets are facilitating transparency and price discovery in the industry.”

For more information, visit Fastmarkets and the ICE Futures listings at Biodiesel Outright – US Gulf Coast Used Cooking Oil (Fastmarkets) Future. Email media@fastmarkets.com to connect with the team and find out how Fastmarkets can help you.

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The GME and Fastmarkets will explore collaboration across areas including new commodity derivatives, indices and hedging instruments tailored to meet the needs of regional markets. Additionally, the collaboration will focus on promoting education and fostering industry dialogue by organizing and co-hosting networking events, seminars and workshops on commodity trading, risk management and pricing strategies.  

The region is expanding rapidly due to increased investment in infrastructure and diversification of the economy, positioning Fastmarkets as the trusted provider to deliver the essential tools and insights needed to navigate this growth effectively. 

“We are excited to partner with Fastmarkets to bring innovative solutions to the regional commodities market,” chairman of GME Ahmad Sharaf said.  

Fastmarkets is at the forefront of innovation, consistently delivering comprehensive solutions that address the evolving needs of the commodities industry, ensuring customers have reliable data and tools for informed decision-making. Through its commitment to regional support, Fastmarkets is driving growth and expansion, fostering a resilient commodities market that meets local demand and opens up new avenues for economic development and trade. 

Raju Daswani, CEO of Fastmarkets, added: “This partnership represents a significant step forward in supporting the growth and development of the regional commodities market. We look forward to working together to achieve our shared goals and deliver value to our stakeholders.” 

Find out how Fastmarkets can help you or email media@fastmarkets.com to connect with our team. 

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The timing of this price launch aligns with recent shifts in the global regulatory landscape and burgeoning demand for battery-grade materials. Graphite is a crucial raw material in the anode of lithium-iron phosphate (LFP) and nickel-cobalt-manganese (NCM) batteries. 

Interest in regional graphite prices has spiked following the implementation of China’s export controls on graphite as well as the US Inflation Reduction Act (IRA) and updated Section 301 tariffs. These last two regulatory changes reflect the US government’s ambition to establish a more independent graphite supply chain, which Fastmarkets anticipates in turn to create a distinct market in terms of pricing. 

US graphite demand is set to rise by more than 600% to almost 700,000 tonnes by 2034, according to Fastmarkets principal analyst Amy Bennett. 

“This is a pivotal moment in the US graphite sector, with the US aiming to de-risk from China and become more self-sufficient in the graphite space, particularly for battery-grade materials,” Bennett said. “The combination of incredible growth and the impact of the IRA and Section 301 tariffs will by necessity prompt the development of a US pricing premium – Fastmarkets has the expertise to deliver this new price to the market.”  

Fastmarkets is committed to bringing transparency to commodity markets that support the transition to a low-carbon economy. This new graphite price is tailored to meet the needs of the energy transition, focusing on battery-grade graphite. It will serve as a valuable tool for domestic graphite producers and consumers, as well as the broader battery supply chain. This aligns with Fastmarkets’ commitment to supporting the growing interest in sustainable and efficient energy solutions. 

“The launch of this US graphite flake price assessment marks a significant step forward for the industry, providing much-needed transparency and a reliable benchmark for market participants and potential investors,” said Grace Asenov, Fastmarkets’ base and energy metals editor for the Americas. “This new price complements existing benchmarks in Europe and Asia, providing a comprehensive view of the global graphite market.”  

Email media@fastmarkets.com to connect with our team and find out how Fastmarkets can help you. 

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SAF is a critical part of the global decarbonization mandate. Investment in research and development and refining facilities from market players such as traditional oil and gas companies, renewable refiners, airline manufacturers, airline operators, financial institutions and government agencies has made SAF commercially viable – it is now being actively used as a replacement for traditional jet fuel.  

As commercial air traffic continues to grow strongly after Covid-19, future decarbonization initiatives of the airline industry depend on the successful adoption and usage of SAF at scale globally. From January 1, 2025, the European Union will impose its first SAF mandate while the US is set to introduce new low-carbon tax credits to incentivize SAF production. These regulations will drive a substantial increase in SAF output, with the US aiming to produce 35 billion gallons per year by 2050 and the EU targeting a mandate for 70% SAF use on of all EU-originating flights.  

Demand for SAF to outstrip supply

Demand for SAF is likely to outstrip supply in the early stages of this push, putting sellers in a strong position while buyers will face fragmented supply from competing production technologies. Fastmarkets’ unique positioning in the market allows us to look at all underlying factors such as feedstocks, credits and fundamental data, the foundation for a transparent pricing mechanism that can help market participants make informed decisions – both in the short and long terms.  

Fastmarkets’ SAF offering is a single point of truth for the market. 

“The launch of our sustainable aviation fuel price marks a significant step towards a greener and more sustainable future for the aviation industry,” said Tore Alden, principal analyst at Fastmarkets. “By providing transparent, competitive pricing for SAF, we are not only enhancing market stability and investor confidence but also accelerating the global transition to more environmentally friendly fuel sources.”  

Fastmarkets is set to become the leading authority in SAF pricing, setting a new standard for market information and transparency in the renewable energy and low carbon intensity fuels sector. “This initiative underscores Fastmarkets’ commitment to driving positive change by setting new standards in market information and transparency within the renewable energy sector,” said Tim Worledge, editorial director of agriculture at Fastmarkets. 

Find out how we can help you or email media@fastmarkets.com to connect with one of our analysts.

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The review was conducted by the independent global accounting and professional services firm BDO and found that, as of June 30, 2024, Fastmarkets’ governance framework and control activities were in line with the Principles for Oil PRAs set out by the International Organization of Securities Commissions (IOSCO).  

The IOSCO principles create an overarching framework for benchmarks, articulating guidance and principles ensuring transparency and openness. The assurance review process examines a firm’s governance and controls framework, policies, and methodologies in scope to verify their adherence to the PRA Principles. 

As stated by the European Securities and Markets Authority (ESMA), this external assurance review is sufficient to demonstrate compliance with the audit requirements of the EU Benchmark Regulation (BMR) for commodity benchmarks (paragraph 18 of Annex II). 

The price assessments reviewed include some administered by Fastmarkets Benchmark Administration Oy (FBA Oy), which was incorporated in Finland in December 2020 to administer all benchmarks that are in the scope of the BMR.  

This year’s review covered key benchmarks in the aluminium, alumina, cobalt, copper, lithium, manganese, iron ore, Bleachable Fancy Tallow, Soybean, and steel scrap markets. Eight new prices also achieved Type 1 IOSCO accreditation; these are as follows: 

• MB-LI-0033: Lithium carbonate 99.5% Li2CO3 min, battery grade, spot price ddp Europe and US, $/kg 

• MB-LI-0025: Lithium hydroxide monohydrate LiOH.H2O, 56.5% LiOH min, battery grade, spot price ddp Europe and US, $/kg 

• MB-LI-0019: Lithium carbonate 99% Li2CO3 min, technical and industrial grades, spot price ddp Europe and US, $/kg 

• MB-LI-0021: Lithium hydroxide monohydrate LiOH.H2O, 56.5% LiOH min, technical and industrial grades, spot price ddp Europe and US, $/kg 

• MB-IRO-0187: Iron ore 67.5% Fe pellet feed premium, cfr Qingdao, $/tonne 

• MB-IRO-0188: Iron ore 67.5% Fe pellet feed, cfr Qingdao, $/tonne 

• AG-TLW-0035: Gulf tallow max 20% ffa 

• AG-SYB-0049: Soybean Oil RBD Illinois 

To obtain a copy of the independent assurance reports and to view Fastmarkets’ price methodology/specifications, click here. 

Find out how we can help you or email media@fastmarkets.com to connect with one of our analysts.

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Fastmarkets’ proprietary prices serve as the foundation for CME ​Group ​futures contracts which are the underlying constituents tracked by the Bloomberg indices. These indices are anticipated to further position Fastmarkets’ benchmark prices within financial markets, enhancing liquidity and relevance to a new community of financial service organizations. 

Product highlights: 

• New indices launched: Single commodity indices for lithium (BCOMLM, BCOMLMT) and cobalt (BCOMCB, BCOMCBT) 

• Data utilization: CME​ Group ​ futures contracts are used for the indices, with CME ​Group ​futures settling against Fastmarkets’ physical market assessments 

• Market impact: The indices can be used by financial investors with broad commodity market exposure to further diversify returns. They can also be used to provide capital efficient exposure to commodities linked to energy transition space 

• Significance for Fastmarkets customers: Position Fastmarkets prices in a new segment of the commodity ecosystem, enhancing visibility and market value 

Przemek Koralewski, global head of market development at Fastmarkets, said: “This launch not only elevates the visibility of our prices but also promotes the CME ​Group ​lithium and cobalt futures contracts to the financial sector. Inclusion in Bloomberg’s commodity indices family brings additional prestige and recognition to our benchmarks.” 

Jigna Gibb, head of commodities and crypto index product, Bloomberg Index Services Limited, said: “Energy transition is a central pillar of climate risk mitigation strategy and as a result of transitioning away from fossil fuels, we can expect an increased demand for metals like lithium and cobalt due to their role in renewable energy projects, infrastructure and electric vehicles. Bloomberg partnered with Fastmarkets for access to a reliable, extended data set on the lithium and cobalt markets.” 

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The demand for green steel is accelerating rapidly, particularly within the automotive and construction sectors in the United States. By launching a US green HRC price, Fastmarkets positions itself ahead of significant auto industry purchases expected next year and anticipates a surge in steel spending following the November presidential election.

The US steel industry has long touted its green credentials, primarily due to its high proportion of electric arc furnaces (EAFs). Mills and major end-use buyers, such as automobile manufacturers, have recently recognized the potential to charge a premium for green steel. With major deals already secured between domestic mills and auto producers, there is an increasing need for an independent price assessment to facilitate these transactions.

Andrew Wells, editorial and pricing director for ferrous metals and mining at Fastmarkets, commented: “As the market matures, both mills and buyers will require a reliable instrument to finalize contracts. We aim to be that standard.”

The first US green HRC price will cater primarily to mills and auto-related buyers. However, there is growing interest from building developers who are increasingly seeking green steel solutions.

Felix Bello, US steel analyst at Fastmarkets, added: “To appreciate the significance of quantifying the value of green steel, we must recognize that steel is the most ubiquitous and recycled material globally. It permeates our daily lives, appearing in buildings, bridges, ships, cars, bicycles, appliances and even paper clips. In these roles, it provides nearly 6 million direct jobs and accounts for almost 8% of CO2 emissions, positioning it as a critical factor in addressing carbon emissions.”

Join Fastmarkets at the International Iron Ore & Green Steel Summit 2024, on June 24-26 in Vienna, Austria, to gain insights from industry leaders, leverage market data for strategic decisions and seize opportunities in green steel innovation.

Interested in green steel prices? Find out how we can help you or email media@fastmarkets.com to connect with one of our analysts.

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The review was conducted by independent global accounting and professional services firm BDO and found that, as of March 31, 2024, Fastmarkets’ governance framework and control activities were in line with the Principles for Oil PRAs set out by IOSCO in 2012.

The IOSCO principles create an overarching framework for benchmarks, articulating guidance and principles ensuring transparency and openness. The assurance review process examines a firm’s governance and controls framework, policies and methodologies in scope to verify their adherence to PRA principles.

As stated by the European Securities and Markets Authority (ESMA), this external assurance review is sufficient to demonstrate compliance with the audit requirements of the EU Benchmark Regulation (BMR) for commodity benchmarks (Paragraph 18 of Annex II).

The price assessments reviewed include some administered by Fastmarkets Benchmark Administration Oy (FBA Oy), which was incorporated in Finland in December 2020 to administer all benchmarks that are in the scope of the BMR.

“We are pleased with the outcome of this annual external assurance review of our governance framework, illustrating our longstanding commitment to providing and evolving best practices in price reporting across our business. Providing our customers with dependable prices backed by reliable methodologies is at the heart of what we do,’’ Fastmarkets CEO Raju Daswani said.

To obtain a copy of the independent assurance reports and to view Fastmarkets’ price methodology/specifications, click here.

Interested in our forest products prices? Find out how we can help you or email media@fastmarkets.com to connect with one of our analysts.

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Fastmarkets was the first price reporting agency to launch spot battery-grade and technical-grade lithium hydroxide and carbonate price assessments for the US and Europe. Pricing histories for these markets are available back to 2017. Fastmarkets has been pricing lithium markets for over 60 years.

The battery raw materials market has evolved significantly since 2017, with supply and demand factors playing out markedly differently in North America, Europe and Asia. Previously, Fastmarkets provided price assessments for the US and Europe combined. These prices are now being amended to price the US and Canada jointly, and Europe separately. Pricing the US and Canadian lithium markets separately to Europe is essential to capture distinct regional dynamics following the implementation of the US Inflation Reduction Act.

By launching new regional weekly price assessments for spot battery-grade and technical-grade lithium hydroxide and carbonate for the two regions, Fastmarkets demonstrates its readiness to respond to the demands of its customers.

The four new US and Canadian prices will support the EV supply chain as well as traditional industries reliant on lithium and will serve as a vital reference point for market participants, including producers, consumers, traders, and investors, enabling them to effectively manage risk, negotiate contracts and optimize their trading strategies.

Grace Asenov, base and energy metals editor for the Americas, Fastmarkets, said: “Up until now, there has been no way to track lithium pricing dynamics for the US and Canada specifically, though the region faces distinct challenges and opportunities stemming from the Inflation Reduction Act. With the growing importance of lithium in various industries, including electric vehicles, renewable energy storage and consumer electronics, reliable and regionalized pricing data is essential for market participants to make informed decisions. This initiative will empower stakeholders in both the physical and financial markets to navigate the domestic lithium market with confidence.” 

Jordan Roberts, battery raw materials analyst, Fastmarkets, said:”In tandem with demand growth is the enactment of the Inflation Reduction Act (IRA), which will have a material impact on evolving battery supply chain dynamics. The sourcing requirements to be eligible for tax credits offered under the IRA are expected to result in a price differential (premium) compared to other regions, which should be beneficial to lithium project development in the US.”

Raju Daswani, CEO, Fastmarkets said: “Fastmarkets boasts an unmatched history of lithium pricing. We’re the first to offer such a comprehensive set of regional prices on a weekly frequency, which we believe suits the current market’s maturity. Our launch of lithium price assessments showcases our commitment to empowering the EV and battery industries with essential market insights.”

The specifications for the new, weekly US and Canadian lithium price assessments are as follows:

• MB-LI-0044 Lithium carbonate 99.5% Li2CO3 min, battery grade, spot price ddp US and Canada, $ per kg
• MB-LI-0045 Lithium hydroxide monohydrate LiOH.H2O, 56.5% LiOH min, battery grade, spot price ddp US and Canada, $ per kg
• MB-LI-0046 Lithium carbonate 99% Li2CO3 min, technical and industrial grades, spot price ddp US and Canada, $ per kg
• MB-LI-0047 Lithium hydroxide monohydrate LiOH.H2O, 56.5% LiOH min, technical and industrial grades, spot price ddp US and Canada, $ per kg

The amended Europe price assessments are as follows:

• MB-LI-0023 Lithium carbonate 99.5% Li2CO3 min, battery grade, spot price ddp Europe, $ per kg
• MB-LI-0025 Lithium hydroxide monohydrate LiOH.H2O, 56.5% LiOH min, battery grade, spot price ddp Europe, $ per kg
• MB-LI-0019 Lithium carbonate 99% Li2CO3 min, technical and industrial grades, spot price ddp Europe, $ per kg
• MB-LI-0021 Lithium hydroxide monohydrate LiOH.H2O, 56.5% LiOH min, technical and industrial grades, spot price ddp Europe, $ per kg

Join Fastmarkets at the 16^th Lithium Supply and Battery Raw Materials conference, held June 24-27 in Las Vegas, to discuss, debate and network with Fastmarkets experts and industry leaders across the supply chain.

Interested in lithium prices? Find out how we can help you or email media@fastmarkets.com to connect with one of our analysts.

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