Amendment to MHP price assessment, methodology specifications

Following a one-month consultation period, Fastmarkets has amended the name of its nickel mixed hydroxide-precipitate (MHP) price assessment and the nickel content specifications.

The consultation opened on Thursday January 12 and concluded on February 13.

Fastmarkets publishes two price assessments for the nickel MHP market: a payable indication linked to the London Metal Exchange; and an expressed price that reflects the value of MHP as an outright price.

The decision to change the name is to more clearly differentiate the two prices, which represent two different pricing mechanisms for the MHP market.

The new price name will be nickel mixed hydroxide precipitate outright price, cif China, Japan and South Korea, $/tonne.

Specification change
Fastmarkets has also increase the nickel content of the specifications to 30-45% from 30-40% to allow for more future liquidity to be included in price assessments.

The new specifications are as follows:

MB-NIO-0003 Nickel mixed hydroxide precipitate outright price, cif China, Japan and South Korea, $/tonne
Quality: 30-45% nickel min/max, 1-6% cobalt min/max, 4% Zn max, 4% Cu max, 9% Mn max, 5% Mg max, 5% S max, 0.5% Fe max, moisture content 35-40%
Quantity: min 100 tonnes
Location: cif major ports China, Japan and South Korea (other ports normalized)
Timing: 45 days
Unit: USD per tonne, inferred basis the payable range or expressed by participants
Publication: Weekly, Friday 3-4pm London time.

MB-NIO-0004 Nickel mixed hydroxide precipitate payable indicator, % London Metal Exchange, cif China, Japan and South Korea, $/tonne
Quality: 30-45% nickel min-max, 1-6% cobalt min-max, 4% Zn max, 4% Cu max, 9% Mn max, 5% Mg max, 5% S max, 0.5% Fe max, moisture content 35-40%
Quantity: min 100 tonnes
Location: cif major ports China, Japan and South Korea (other ports normalized)
Timing: 45 days
Unit: % payable basis LME monthly average
Publication: Weekly, Friday 3-4pm London time

To provide feedback on this price, or if you would like to provide price information by becoming a data submitter to this price, please contact Callum Perry by email at pricing@fastmarkets.com adding the subject heading: “FAO: Callum Perry re MHP price specifications.”

To see all of Fastmarkets’ pricing methodology and specification documents, go to https://www.fastmarkets.com/methodology

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