The Fastmarkets prices affected are:
MB-CO-0005 - Cobalt standard grade, in-whs Rotterdam, $/lb
MB-CO-0004 - Cobalt alloy grade, in-whs Rotterdam, $/lb
The amendments will take place immediately, following feedback from the industry through an extended consultation and Fastmarkets’ own analysis of market dynamics and evolving practices and standards.
Sherritt briquettes:
Sherritt briquettes move from alloy grade to standard grade. Fastmarkets understands that some users of cobalt for alloy-based applications can use briquettes; however, this is not typically the predominant usage of briquettes, Sherritt brand or otherwise.
Based on market feedback, market participants in Europe, Asia and other regions more typically use briquettes for standard grade applications.
This is not a judgement of the quality of brands; both standard and alloy grade require a 99.8% cobalt minimum. It is rather due to Fastmarkets’ understanding as a Price Reporting Agency of what brands trade to the same or similar dynamics.
Prices, accepted brands and methodologies are regularly reviewed to ensure Fastmarkets balances the need to gather sufficient data liquidity with the need to avoid publishing unhelpfully wide ranges that risk becoming unrepresentative of the markets it serves.
Any realignment or specification change Fastmarkets makes always follows a period of extensive and active industry consultation as well as our own analysis of market dynamics and evolving practices and standards.
Duty status:
Fastmarkets is amending its specification to clarify the duty status of both standard and alloy grade cobalt metal in Rotterdam. Although there is no European Union duty on cobalt, some market participants said clarification of duty-status is important, in case any duty is levied on cobalt metal in the future.
Fastmarkets is specifying standard and alloy grade cobalt as duty-unpaid, customs uncleared.
Vale rounds:
The proposal to clarify Vale rounds will be extended until Friday April 28, seeking further feedback on the specifications.
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 the cobalt team by email at: pricing@fastmarkets.com. Please add the subject heading FAO: the cobalt team, re: cobalt standard grade in-whs Rotterdam and cobalt alloy grade, in-whs Rotterdam specifications. To see all Fastmarkets’ pricing methodology and specification documents go to https://www.fastmarkets.com/about-us/methodology.
