What this guide decides
Understand why timing, executability and transparent offers matter at the assessment close, and the limits of conclusions drawn from one MOC value.
Executive summary
- Main decision: Understand why timing, executability and transparent offers matter at the assessment close, and the limits of conclusions drawn from one MOC value.
- Comparison basis: For analysis, record clock time and time zone, publication date, market liquidity, standard cargo size and executable-offer status. Without these, a quoted number loses its assessment context.
- First risk: Ignoring time zones
What decision are you making?
Market on Close, or MOC, organizes market information around a specified assessment time so verifiable bids, offers and trades can be compared on defined terms. Evaluate technical specifications, the price basis, delivery terms and quality evidence together. A lower number is not a comparable offer if it covers a different grade, weight, coating or delivery scope.[1][2]
For buyers comparing Iranian supply with international benchmarks, align product, grade, dimensions, assessment date, currency and delivery basis before discussing a premium or discount. Request an offer in the executable settlement currency at a named port or final delivery location, and show freight, insurance, handling, applicable charges and financing separately. Confirm destination acceptance of the material and documents. Iranian exchange and stockholder data can explain domestic supply conditions, but neither a benchmark nor a domestic quote is itself an executable export offer.
Technical mechanism and price impact
Executable prices near the close receive particular attention after specification checks. Information may be normalized for timing, location, quality or commercial terms; the daily rationale explains editorial assessment judgment.[2][3][4]
For analysis, record clock time and time zone, publication date, market liquidity, standard cargo size and executable-offer status. Without these, a quoted number loses its assessment context. Compare offers only after aligning units, the weight basis, taxes, packaging, loading, freight and quote validity. An omitted cost can outweigh the apparent saving per kilogram. Keep the supplier’s currency and payment date visible before converting to your purchasing currency.
Request comparable quotations
Ask every supplier to answer the same written specification. This prevents an apparently cheaper offer from silently changing the product or scope. Confirm the following before comparing prices:
- Assessment time and zone
- Definition of executable information
- Standard cargo size and quality
- Daily rationale
- Holidays and publication schedule
Compare the options
Use this table to structure the decision. It does not replace engineering calculations or the contract. The final column identifies the evidence to review before accepting an offer.
| Near-close information | Comparing value at assessment time | Timing, executability and transparency |
| Trade outside the window | Providing trend context | Time adjustment and weighting rationale |
| Thinly traded market | Interpreting limited signals cautiously | Uncertainty and supporting evidence |
Common risks and warning signs
Errors often begin when a trade name replaces a technical specification, one photograph stands for an entire shipment, or the delivery scope is missing from the quote. Address these specific risks: Ignoring time zones; Assuming uniform liquidity; Equating offers with trades; Generalizing one moment to the whole day. Turn each risk into a written acceptance criterion, sampling requirement or traceable document.
A standard number alone does not demonstrate conformity. Specify the edition, grade, dimensions, tolerances, test method, heat or batch number and acceptance authority. For an import project, confirm the destination’s requirements and the project’s approved specification; an Iranian market designation is not automatic evidence of an equivalent local grade.
Make the purchasing decision
MOC builds a repeatable view of market value at a specified time. Keep evidence quality and window definition alongside the assessed number.[4][5]
Before ordering, prepare a single comparison sheet covering the product, quantity, unit, theoretical and actual weight, base price, taxes, freight, delivery window, documents and acceptance criteria. Identify who pays each cost and who records discrepancies at receipt. This makes the negotiation clearer and gives the receiving team an agreed basis for checking the shipment.
Checklist before you order
- 1Assessment time and zone
- 2Definition of executable information
- 3Standard cargo size and quality
- 4Daily rationale
- 5Holidays and publication schedule
- 6Record the price basis, unit, taxes, loading and freight in the quotation
- 7Match shipment markings and documents to the delivered goods before unloading
Frequently asked questions
What should I check first when evaluating Market on Close methodology?
Align the product definition and acceptance criteria before comparing prices. For analysis, record clock time and time zone, publication date, market liquidity, standard cargo size and executable-offer status. Without these, a quoted number loses its assessment context.
Is price alone enough to decide on Market on Close methodology?
No. Prices are comparable only when grade, dimensions, weight, quality, documents, delivery scope and validity match. MOC builds a repeatable view of market value at a specified time. Keep evidence quality and window definition alongside the assessed number.
Sources and how they were used
Standards and primary sources define the method, terminology and scope of each decision. The project’s contractual edition and the approved national standard always take precedence.
- [1]Steel & Metals Price Assessment Methodology— S&P Global Energy — Platts
- [2]Platts Assessments Methodology Guide— S&P Global Commodity Insights
- [3]Global Steel, Ferrous Scrap, Ferroalloys and Noble Alloys Specifications Guide— S&P Global Commodity Insights
- [4]World Steel in Figures 2026— World Steel Association
- [5]Iran Mercantile Exchange physical-market trading statistics— Iran Mercantile Exchange
