After a period of consultation, Fastmarkets will amend the specification of its spodumene cif China price and discontinue its fob Australia and 7-7.5% cif China prices to better reflect emerging norms in the spodumene market that serve the lithium battery-grade chemicals industry.
The specification will be as follows (changes in bold):
MB-LI-0012 Spodumene 5-6% Li20 min, cif China, $/tonne
Quality: A mineral concentrate accepted by buyers for conversion in lithium chemicals used in battery applications (any size will be accepted) and with the following chemical composition: Li2O 6% ( min 5.7 Li2O and max 6.1% Li2O accepted if it can be normalized to 6%); Fe2O3 < 1.3% (max 1.5% Fe2O3 accepted if it can be normalized to < 1.3%), H2O <10%
Location: cif China
Timing: 90 days
Publication: Monthly, last Wednesday of the month, 3-4pm London time
Fastmarkets will discontinue the following spodumene price assessment, which we believe is not reflective of current prevailing industry practices, where most of the trade takes place on cif China basis:
MB-LI-0017 Spodumene 5-6% Li20 min, fob Australia, $/tonne
Fastmarkets will also discontinue the following spodumene price assessment due to limited demand-supply dynamics of the market in question and to focus on its core markets:
MB-LI-0011 Spodumene min 7-7.5% Li2O, cif China
Following the results of this consultation, the above changes will take place on Thursday October 1.
The last spodumene price assessments with the previous methodology will be on September 30.
To provide feedback on these specification amendments or if you would like to provide price information by becoming a data submitter to these prices, please contact the price reporters Dalila Ouerghi or Carrie Shi by email at firstname.lastname@example.org. Please add the subject heading “FAO: Dalila Ouerghi/Carrie Shi, re: amendments to Spodumene price assessments specifications.”
To see all Fastmarkets’methodology and specification documents go to https://www.fastmarkets.com/about-us/methodology.