PRICING NOTICE: Proposal to amend frequency of bauxite prices

Fastmarkets proposes to reduce the frequency of publication of its fob Guinea and Brazil bauxite price assessments due to low spot liquidity in the past year.

The proposed change is to publish those two price assessments on a monthly basis instead of fortnightly. If this is approved, the price assessment will made on the third Thursday of every month at 2-3pm London time.

Fastmarkets selects the frequency of publication of a market after considering the number of data points (deals, bids, offers, deals heard and assessments) that it can reasonably expect to collect on a consistent basis in the selected collection window to support the price assessment process.

This consultation is in conjunction with Fastmarkets’ reviewing its coverage of the bauxite industry, in which Fastmarkets aims to try to capture more global liquidity. Fastmarkets invites feedback from market participants on possible new locations that could be priced, such as China, or different incoterms from the current fob prices. 

Fastmarkets will continue to track the evolution and progress of fob Guinea and Brazil bauxite markets and is committed to increase the frequency of publication of those two assessments should liquidity improve.

The consultation period for these proposed changes will end one month from the date of this pricing notice, on July 20, with changes taking place, subject to market feedback, from Thursday August 15. The price will subsequently be published on a monthly basis on the third Thursday of the month. 

During the consultation period, the current scheduled publication for the bauxite prices – of June 20, July 4 and July 18 – will not change.

The specifications are laid out below, with the proposed new price frequency in bold.

Assessment: Bauxite fob Kamsar, Guinea, single figure
Quality: Total alumina: 48.5% min, 53% max; total silica 1.20% min, 2.10% max; reactive silica 3.2% max; Fe 22% max; Ti 4% max; organic carbon 0.15% max; moisture content 5.5% min, 7.5% max
Quantity: Minimum 20,000 tonnes
Location: Kamsar (other ports normalized)
Timing: Within two months
Unit: USD per tonne per dmtu
Payment terms: 30 days after loading (other payment terms normalized)
Publication: Monthly – third Thursday of the month between 2pm and 3pm London time

Assessment: Bauxite fob Trombetas, Brazil, single figure
Quality: Total alumina 50.5% min, 55% max; total silica 4.3% min; 5.6% max; reactive silica 4% min, 5% max; Fe 12 % max; Ti 1.5% max; moisture content 9% min; 10% max
Quantity: Minimum 20,000 tonnes
Location: Trombetas (other ports normalized)
Timing: Within two months
Unit: USD per tonne per dmtu
Payment terms: 30 days after loading (other payment terms normalized)
Publication: Monthly – third Thursday of the month between 2pm and 3pm London time

We will continue to make available historical data related to the two price assessments in the Fastmarkets Price Book.

To provide feedback on these prices or if you would like to provide price information by becoming a data submitter, please contact Alice Mason or Hui Li by email at: pricing@fastmarkets.com. Please add the subject heading FAO: Alice Mason/Hui Li, re: bauxite prices.

To see all Fastmarkets’ pricing methodology and specification documents please go to https://www.metalbulletin.com/ prices/pricing-methodology.html.

What to read next
The March 2024 monthly averages were published today based on the index values of March 1, 8, 15 and 22.
Fastmarkets has corrected its MB-STE-0034 steel domestic plate 8-40mm, exw Northern Europe and MB-STE-0035 Steel domestic plate 8-40mm, exw Southern Europe assessments, which were published incorrectly on Wednesday March 27.
The publication of Fastmarkets’ daily assessment for aluminium P1020A premium, ddp Midwest US was delayed on Wednesday March 27. Fastmarkets’ pricing database has been updated.
Fastmarkets' holiday pricing schedule for 2024 has been updated to reflect the change in the pricing frequency of its mixed hydroxide precipitate (MHP) cif China, Japan and South Korea (CJK) prices.
Fastmarkets is inviting feedback from the industry on the pricing methodologies for its steel hot-rolled coil index domestic, exw Northern Europe, €/tonne (MB-STE-0028) and steel hot-rolled coil index, fob mill US Midwest, $/cwt (MB-STE-0184) as part of its annual methodology review process.
Fastmarkets launched its first price assessment for MB-FEC-0024 Ferro-chrome 50% Cr, delivered Europe, $/lb Cr on Tuesday March 26.