AMM Pricing Methodology

A number of people in the metal industry rely on our price assessments and indices to empower their business decisions everyday. When you purchase a data license, you can then input our prices into contracts, reports and calculations. We take this responsibility very seriously, and seize every opportunity to provide an explanation of how we, as a price reporting agency, provide this trustworthy data. AMM methodologies are published and made accessible to ensure our price reporting process is fully transparent.

Why is AMM data trustworthy?

Rigorous pricing procedure
AMM reporters are required to follow robust pricing procedures, clearly defined methodologies, and clear-cut price specifications during their market reporting and pricing sessions. The AMM price assessment process is aligned to core IOSCO principles

Independent market perspective
AMM has no affiliation or bias, and has no vested commercial interest in any of the markets it prices. Price assessments are representative of the market and reflective of both buyers & sellers. Using multiple sources of pricing will reveal other providers who are consistently high (perhaps slanted to producers) or consistently low (perhaps slanted to consumers).

Current with industry standards
AMM continually develops and revises its methodologies in consultation with industry participants. If there are changes in the industry, AMM will revise or adopt product specifications, trading terms, conditions or other factors that reflect and are representative of typical working practices in the industry. All methodologies, changes, revisions, adaptations or other are approved by AMM’s editor and senior management.

Adherences to strict, monitored regulations
AMM’s reporters are required to follow a Code of Conduct by forbidding employees from brokering, accepting bribes, publishing defamatory news, etc.

Markets are assessed by experienced AMM staff each day, via phone calls, emails, texts, etc. to a wide variety of market participants on both sides of the transaction. AMM treats all communications of price, assessments, contract details and all other information as classified and details are never shared with third parties.

Verification and peer-review of pricing
All work by AMM reporters is peer-reviewed and approved prior to publication by upper management. Reported transactions are verified by counterparties, highs and lows are evaluated for accuracy and price experts “mark” the market using their judgment and expertise in analyzing the data collected. Prices are managed and delivered by a proprietary and state-of-the-art price management system called M.I.N.D.

Two core methodologies
Both methodologies aim to produce a price reference representative of where the bulk of the SPOT market is at a specified time. 
> Assessments: the bulk of our prices; they can be a single number or a spread/range of reported representative business.
> Indexes: single number, a volume-weighted average of transaction data. Methodology generally employed in comparatively liquid market.

Methodology Resources:


Code of Conduct: In order to remain completely independent and unbiased, AMM employees are expected to abide by the Metal Bulletin Group's Code of Conduct. In addition, all pricing data is kept confidential.


Data Submitter Policy: AMM price assessments use data inputs collected from market participants. Price contributors are subject to review according to our Data Submitter Policy. Email to participate in helping AMM bring transparency to the markets.


Complaint Handling Policy: AMM offers multiple levels of service to handle customer questions, concerns, feedback and other inquiries. The Complaint Handling Policy describes all options available to resolve any issue from routine queries to initiating a formal review process which escalates complaints to an independent third party and includes an appeals process. 


Quick Guide to AMM Pricing: Strict adherence to an editorial code of conduct, pricing procedures and clearly defined methodologies power every price published by AMM. Get a brief overview of these processes and procedures in our Quick Guide to AMM Pricing.


Pricing Notices & Corrections: AMM continually develops and revises its pricing and methodologies in consultation with industry participants. If there are changes in the industry, AMM will revise or adopt product specifications, trading terms, conditions or other factors that reflect and are representative of typical working practices in the industry and post changes on our pricing notices or corrections pages.

Our Mission
As a trusted, global price reporting network, the Metal Bulletin Group aims to provide leading pricing intelligence, including independent industry benchmarks, for the metal and mining industry. The group’s global portfolio of news, analysis, conferences and insight services complement these price benchmarks.

The world’s largest dedicated metals price reporting team with offices in London, New York, Pittsburgh, Shanghai, Hong Kong, Sao Paulo, Melbourne, Singapore, Mumbai, CIS, Istanbul, and 5 other US locations.

Material Specifications

Download AMM's full methodology documents including all material specifications for the markets covered by AMM using the buttons below.

Steel Methodology

Nonferrous Metals Methodology

Nonferrous Scrap Methodology

Ferrous Scrap Methodology

Midwest Ferrous Scrap Index


US Ferrous Scrap Export Index

Hot Rolled Coil Index


For a quick view of a single market's specs,
please visit Price Tracker, search for your market of interest
and click on the material name in the search results.
This will take you to a landing page for that material,
which includes the specifications for that particular market.