Proposal to amend nickel low-carbon briquette premium

Fastmarkets proposes to amend its MB-NI-0256 nickel low-carbon briquette premium, cif global to include all shapes of Class 1 nickel metal.

Following the launch of the nickel low-carbon briquette premium in May 2024, there have been significant shifts in market structure, including the closure of some nickel operations, which have significantly tightened the pool of liquidity available for the low-carbon assessment.

But Fastmarkets continues to see interest in pricing transparency for low-carbon metals and is committed to maintaining its price coverage of this market.

To provide transparency to this market, and increase the pool of liquidity, Fastmarkets proposes to expand the premium to cover all exchange-deliverable shapes of nickel metal.

These are briquettes, uncut cathode, cut cathode, pellets and rounds.

The proposed amended specification is below, with changes in italics.

MB-NI-0256 Nickel low-carbon metal premium, cif global, $ per tonne
Quality: Any exchange deliverable shape of Class 1 nickel metal, conforming to 99.80% min primary nickel: ASTM B39-79 (2013) or GB/T 6516-2010 – Ni9990 grade.
Carbon limit: 18tCO2e per tonne of nickel briquette produced, Scope 1 and Scope 2 emissions, measured following ISO14040 standards or via an independent third-party lifecycle assessment (LCA).
Additional ESG factors: All assets and third-party feeds should be in compliance with ICMM’s Mining Principles and Towards Sustainable Mining, as well as the Initiative for Responsible Mining Assurance (IRMA).
Quantity: Min 20 tonnes
Location: CIF global premium, premium on top of exchange or trade platform listed nickel price
Timing: Up to 12 months
Unit: USD per tonne
Publication: Monthly, first working day of the month, 4pm London time
Notes: This premium will follow the UK pricing calendar and will be assessed from London. Sanctioned material will not be considered for the assessment.

This price is part of the Fastmarkets base metals package.

The consultation period for this proposed amendment starts from Tuesday July 30 and will end on Thursday August 29. The amendment will then take place, subject to market feedback, on August 30, with the first publication of the price with the new specification taking place on September 2.

To provide feedback on this price or if you would like to provide price information by becoming a data submitter to this price, please contact Callum Perry and James McKeigue by email at: pricing@fastmarkets.com. Please add the subject heading “FAO: Callum Perry/James McKeigue re: nickel low-carbon metal premium.”

Please indicate if comments are confidential. Fastmarkets will consider all comments received and will make comments not marked as confidential available upon request.

To see all Fastmarkets pricing methodology and specification documents, go to https://www.fastmarkets.com/methodology.

What to read next
The publication of Fastmarkets’ AG-PLM-0019 refined bleached deodorised (RBD) palm olein, cfr South China assessment for Thursday July 24 was delayed due to a reporter error. Fastmarkets’ pricing database has been updated.
Fastmarkets has launched a MB-STE-0935 Steel reinforcing bar (rebar), differential to shredded auto scrap Chicago, fob mill US, $/gross ton to complement its existing suite of steelmaking raw materials to finished product differentials on Wednesday July 23. This strategic launch is designed to offer the market a single reference price denoting the differential between steel […]
The following prices were affected:MB-BI-0001 bismuth 99.99% Bi min, in-whs Rotterdam, $ per lbMB-CD-0001 cadmium 99.95% min, cif global ports, cents per lbMB-CD-0002 cadmium 99.99% min, cif global ports, cents per lb. These prices are part of Fastmarkets’ minor metals package. For more information, or to provide feedback on the delayed publication of these prices, or if you […]
After a consultation period from June 20 to July 18, Fastmarkets made the decision to discontinue these assessments because the outright prices no longer reflect market conditions, with the market shifting toward payables as the dominant pricing method. The affected prices are:MB-NIO-0003 nickel mixed hydroxide precipitate outright price, cif China, Japan and South Korea, $ per tonneMB-NIO-0005 nickel […]
The publication of Fastmarkets’ MB-CO-0004 cobalt alloy grade, in-whs Rotterdam and MB-CO-0005 cobalt standard grade, in-whs Rotterdam assessments for Wednesday July 23 was delayed because of a system error. Fastmarkets’ pricing database has been updated.
On reviewing the methodology specifications, Fastmarkets is proposing to update the quantity, location and payment terms of the price. The specifications would be as follows, with amendments in italics: MB-SI-0003 silicon, ddp US, US cents per lbQuality: Si: 98.50%, Fe: 0.50%, Al: 0.50%, Ca: 0.30%Quantity: Min 20 tonnesLocation:ddp USUnit: US cents per lbPayment terms: 30 days, other terms normalizedPublication: Weekly, Thursday 4-5pm […]