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Fastmarkets will launch a price assessment for MB-BAR-0021 Barite, drilling grade, unground lump, bulk, SG 4.30 fob Vietnam on Thursday September 25 and has discontinued its MB-BAR-0004 Barite, API, 1.5t big bags, ground, fob Southern Turkey price assessment.
The final assessment of MB-BAR-0004 took place on August 28 and all short-term forecasts associated with the Turkish price produced by the Fastmarkets research team, if any, have also been discontinued.
The moves follow a one-month consultation period, during which Fastmarkets received extensive market feedback about a decline in liquidity on an FOB southern Turkey basis and a desire from market participants for more visibility on a price for Laos-origin material.
The initial proposal was to launch two FOB Vietnam price assessments, but after consulting with market participants, Fastmarkets’ opted to launch a single, monthly, 4.30 grade FOB Vietnam barite price, due to the increased availability of volumes of the grade compared to 4.10 and 4.20 grade barite material on a FOB Vietnam basis.
The price specification will be as follows:
MB-BAR-0021: Barite, drilling grade, unground lump, bulk, SG 4.30 fob Vietnam, $ per tonneQuality: SG 4.30 unground lumpQuantity: 1,000 tonnes minimumLocation: FOB VietnamTiming: SpotUnit: USD per tonnePayment terms: Within 30 daysPublication: Monthly, last Thursday of every month, 4pm London time.
This price is part of the Fastmarkets Industrial Minerals package.If you have any comments on the price discontinuation or to provide feedback or price information on the new price please contact Alex Cook by email at: pricing@fastmarkets.com. Please add the subject heading “FAO: Alex Cook, re: Barite prices.”
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.