Decision to amend frequency of some US base metals premiums

After a month-long consultation period, Fastmarkets has amended the frequency of these US base metals, following mostly positive feedback from market participants and internal data analysis. 

The main pricing day will continue to be Tuesdays at 3-4pm London time, but these tin, lead and nickel premiums will be assessed once a month instead of fortnightly (tin) and weekly (lead and nickel).

The new specifications are listed below, with the amendment of price frequency in italics:
MB-PB-0006 Lead 99.97% ingot premium, ddp Midwest US, US cents/lb
Quality: Lead ingot of 99.97% to 99.99% purity conforming to LME specification BS EN 12659:1999, GB/T469/2005 or ASTM B29-03 (2009)
Quantity: Min 25 tonnes
Location: Delivered consumer works, US Midwest
Timing: Within 5 weeks
Unit: US cents/lb
Publication: Monthly, First Tuesday 3-4pm London time

MB-SN-0036 Tin 99.85% ingot premium, in-whs Baltimore, $/tonne
Quality: Ingot. Min 99.85% tin purity conforming to LME specification: BS EN 610:1996, max 500ppm lead, total impurities must not exceed 0.15%
Quantity: Min 20 tonnes
Location: In-warehouse Baltimore, premium on top of LME cash prices
Payment terms: Cash against documents, other payment terms normalized
Unit: USD/tonne
Publication: Monthly, First Tuesday 3-4pm London time

MB-SN-0011 Tin grade A min 99.85% ingot premium, ddp Midwest US, $/tonne
Quality: Delivered premium over cost of tin of 99.85% purity (min) conforming to BS EN 610:1996
Quantity: Min 20 tonnes
Location: DDP US
Timing: Within 4 weeks
Payment terms: 30 days, other payment terms normalizedUnit: USD/tonne
Unit: USD/tonne
Publication: Monthly, First Tuesday 3-4pm London time

MB-NI-0240 Nickel 4×4 cathode premium, delivered Midwest US, US cents/lb
Quality: 4×4 cut cathode. 99.8% minimum primary nickel conforming to LME specification: ASTM B39-79 (2013) or GB/T 6516-2010 – Ni9990 grade specification: ASTM B39-79 (2013) or GB/T 6516-2010 – Ni9990 grade
Quantity: Min 20 tonnes
Location: Delivered consumer works, US Midwest
Timing: Within 4 weeks
Payment terms: 30 days, other payment terms normalized
Unit: US cents/lb
Publication: Monthly, First Tuesday 3-4pm London time

MB-NI-0241 Nickel briquette premium, delivered Midwest US, US cents/lb
Quality: Briquette. 99.8% minimum primary nickel conforming to LME specification: ASTM B39-79 (2013) or GB/T 6516-2010 – Ni9990 grade specification: ASTM B39-79 (2013) or GB/T 6516-2010 – Ni9990 grade
Quantity: Min 20 tonnes
Location: Delivered consumer works, US Midwest
Timing: Within 4 weeks
Payment terms: 30 days, other payment terms normalized
Unit: US cents/lb
Publication: Monthly, First Tuesday 3-4pm London time

This change also affects the timing window of the corresponding all-in tin grade A price, moving it to “within 4 weeks” from “within 2 weeks,” with the amendment of price frequency in italics:

MB-SN-0012 Tin grade A min 99.85% ingot all-in price, ddp Midwest US, $/tonne
Quality: Ingot. Min 99.85% tin purity conforming to LME specification BS EN 610:1996 and ASTM grade A, max 500ppm lead
Quantity: Min 20 tonnes
Location: Delivered consumer works, US Midwest
Timing: Within 4 weeks
Payment terms: 30 days, other payment terms normalized
Unit: US cents/lb
Publication: Daily

These prices are a part of the Fastmarkets Base Metals package.

To provide feedback on any of these prices or if you would like to provide price information by becoming a data submitter, please contact Rae Boyadjis by email at: pricing@fastmarkets.com. Please add the subject heading “FAO: Rae Boyadjis, re: US tin, lead and nickel premiums.”

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.