The introduction of the price will expand Fastmarkets' current price coverage of the ferro-alloys markets.
As well, over the past 18 months, steel mills have been showing more interest in purchasing ferro-niobium following China’s revised rebar policy that came into effect on November 1, 2018, resulting in vanadium prices soaring to multi-year highs.
The policy requires Chinese steel mills to eliminate the original 335 megapascals (MPa)-tensile strength rebar and start producing 600MPa-tensile strength rebar, which has better earthquake resistance. Both ferro-vanadium and ferro-niobium are used in the production of steel rebar and can be used interchangeably to meet the required tensile strength in some steel products.
The proposed specifications for the new price assessment are listed in full below:
Assessment: Ferro-niobium 60-70%, delivered consumer works Europe, duty paid, $/kg Nb
Quality: 10-50mm lump. Nb 60-70%; C 0.2% max; Si 3.0% max; Al 1-2%; S 0.15%, max; P 0.15%, max; Ta 0.5%, max
Quantity: Minimum 5-tonne lots
Location: Delivered consumer works Europe
Unit: USD per kg Nb
Payment terms: Cash; other payment terms normalized
Publication: Weekly. Wednesdays between 2pm and 3pm London time
Notes: Packaged in 250 kg drums or one-tonne big bags
The consultation period for this proposal price will end one month from the date of this pricing notice on Monday April 6, 2020. Subject to feedback, the new price will launch on Wednesday April 8, 2020.
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: email@example.com. Please add the subject heading FAO: Ewa Manthey, re: ferro-niobium delivered consumer works Europe duty paid price.
To see all Fastmarkets pricing methodology and specifications documents go to: https://www.metalbulletin.com/prices/pricing-methodology.html
Following initial research and consultation among market participants, Fastmarkets proposes to launch a weekly price assessment for ferro-niobium, delivered consumer works Europe, duty paid.