The introduction of the price will expand Fastmarkets’ current price coverage of the molybdenum market, which tracks the drummed molybdic oxide and ferro-molybdenum markets in Europe and the United States.
The proposed new assessment will provide the market with a picture of the molybdic oxide market in Asia in addition to Fastmarkets' price and news coverage of the equivalent markets in Europe and the US, namely drummed molybdic oxide free market $ per lb Mo in-warehouse Rotterdam and canned molybdic oxide United States free market $ per lb Mo in-warehouse US.
Additionally, spot liquidity has been more pronounced in Busan in recent years with more steelmakers in Europe deciding to procure their material on long-term contracts.
The proposed specifications are listed in full below.
Assessment: Drummed molybdic oxide, in-warehouse Busan $/lb Mo
Form: Sandy powder (0-4 mm)
Quality: Mo: 57% min. Cu: 0.5% max. S: 0.1% max. P: 0.05% max. Pb: 0.05% max.
C: 0.1% max. All other elements should each be 0.10% max, with the exception of Si, which should be 6% max.
Quantity: 10 tonnes (+/- 2%)
Location: Busan
Timing: Spot
Unit: USD per lb Mo
Payment terms: Cash; other terms normalized
Publication: Twice weekly. Wednesday and Friday between 2pm and 3pm London time
Fastmarkets now invites market participants to take part in a consultation on its proposal to launch an assessment for drummed molybdic oxide, in-warehouse Busan $/lb Mo.
The consultation period for this proposed price will end one month from the date of this pricing notice on June 7, 2019. Subject to feedback, the new price will launch on Wednesday June 12, 2019.
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 Ewa Manthey by email at: pricing@fastmarkets.com. Please add the subject heading FAO: Ewa Manthey, re: drummed molybdic oxide, Busan.
To see all Fastmarkets pricing methodology and specifications documents go to https://www.metalbulletin.com/prices/pricing-methodology.html
PRICING NOTICE: Proposal to launch in-warehouse Busan drummed molybdic oxide price
Following initial research and a consultation among market participants, Fastmarkets proposes to launch a twice-weekly drummed molybdic oxide price, in-warehouse Busan.