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Fastmarkets is further extending the consultation period for its proposal to launch a monthly high-grade nickel matte payable indicator, 65-75% nickel contained, cif China, % of official exchange price assessment, following feedback from market participants.
The initial proposal to launch the assessment was published on February 26, but following feedback related to market liquidity Fastmarkets extended the consultation period.
The extended consultation started on March 26, but Fastmarkets again received mixed feedback and has decided to extend the consultation again – this time until May 28.
The proposed specification for the price is as follows:High-grade nickel matte payable indicator, 65-75% nickel contained, cif China, % of official exchange priceQuality: nickel matte, Ni 65-75%, Fe 6% maxQuantity: Min 100 tonnesLocation: CIF main ports ChinaUnit: Percentage of official exchange pricePublication: Final Friday of each month, 7pm China time
This price will be part of the Fastmarkets base metals package.The extended consultation period for this proposed launch starts on April 24 and will end on May 28. The launch will then take place, subject to market feedback, on May 30.To provide feedback on this proposal or if you would like to provide price information by becoming a data submitter to this price, please contact Dylan Duan by email at: pricing@fastmarkets.com. Please add the subject heading “FAO: Dylan Duan, nickel matte, CIF China.” 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.