The rationale has been corrected to show that the ER premium should have been $90-102 per tonne, rather than $93-102 per tonne as initially stated.
Additionally, three data points were excluded from the rationale in error. These included a range of $95-102 per tonne from two traders and a range of $95-105 per tonne from a third trader.
Furthermore, a data point of $92-105 per tonne was included erroneously.
There was no change to the final assessment for MB-CU-0380 copper grade A cathode ER premium, cif Shanghai, which was published correctly at $90-102 per tonne on Wednesday.
The rationale after amendments is as below:
ER premium was assessed at $90-102/t, against $98-105/t a day earlier. A deal at $105/t for prime brand cathodes was discarded as an outlier in our judgement, based on other data collected. A deal for normal brand is settled at $88/t. Offers made by two traders at $98/t and $115/t were not accepted. Assessments came in at the ranges of $82-95/t, $85-90/t, $85-95/t, $95-102/t and $95-105/t.
For more information, or to provide feedback on this correction notice, or if you would like to provide price information by becoming a data submitter to these prices, please contact Sally Zhang by email at: pricing@fastmarkets.com. Please add the subject heading FAO: Sally Zhang Re: Shanghai copper cathode ER cif premium.
To see all Fastmarkets’ pricing methodology and specification documents, go to https://www.fastmarkets.com/about-us/methodology.