C3 Data Coding and Daterange
Part of a limited number of products that are available immediately ( under dock, ex mill, ex factory, ex tank ) C3 are not reporting SPOT prices.
Most of our products are ALL forward prices. Prices is determined by product definition (description), quality, terms (location), incoterms and delivery range ( contract type )
- An M1 with MAY25 for delivery means the goods will be delivered to Buyer AT Seller convenience anytime between the 1st and the 21st of May 2025. End of the month 21st to 31st of May will be used to forward all paperworks for shipment. “M” does refer to nearby+forward Calendar Month for the delivery.
- A Q1 with OCT/DEC25 for delivery means the goods will be delivered AT buyer demand anytime between the 1st of October and the 21st of December 2025. “Q” does not refer to any Calendar quarter of any sort.
- A Y1 with 3/APR25 for delivery means the goods are to be delivered in 3 instalments of 3 equal quantities before 21 APR25 / 21 MAY25 / 21 JUN25 (These are mainly used for Meals, feedstocks, industrial products). “Y” does not refer to any Calendar Year of any sort.
- An F1 is a FOB converted in US$ meaning the genuine price is contributed in a #currency / D1 is a Flat in US$ / T1 Flat in genuine currency lot size unit just work the same as M1,,,’s
The 21st of each month is not a rule but a custom, as you will need 10 days to forward documentation and invoice to the buyer.
You cannot consider a significant difference in concept between SPOT and Forward in the cash market ( SPOT prices just have the cash & carry storage cost included )
This is different from the future market where a SPOT is a physical settlement price used for future conversion to physical delivery.
Of course the closer you get to the expiry date of a said future, the closer your SPOT settlement price will be to the cash market 1st term delivery price.
Our Cash SPOT or DISPO have nothing to do with the Futures SPOT.