Decision to amend frequency of some US base metals premiums

Fastmarkets will reduce the frequency of publication of several US base metal price assessments, including MB-PB-0006 Lead 99.97% ingot premium, ddp Midwest US; MB-SN-0036 Tin 99.85% premium, in-whs Baltimore; MB-SN-0011 Tin 99.85% premium, ddp Midwest US; MB-NI-0240 Nickel 4x4 cathode premium, delivered Midwest US; and MB-NI-0241 Nickel briquette premium, delivered Midwest US.

After a month-long consultation period, Fastmarkets has amended the frequency of these US base metals, following mostly positive feedback from market participants and internal data analysis. 

The main pricing day will continue to be Tuesdays at 3-4pm London time, but these tin, lead and nickel premiums will be assessed once a month instead of fortnightly (tin) and weekly (lead and nickel).

The new specifications are listed below, with the amendment of price frequency in italics:
MB-PB-0006 Lead 99.97% ingot premium, ddp Midwest US, US cents/lb
Quality: Lead ingot of 99.97% to 99.99% purity conforming to LME specification BS EN 12659:1999, GB/T469/2005 or ASTM B29-03 (2009)
Quantity: Min 25 tonnes
Location: Delivered consumer works, US Midwest
Timing: Within 5 weeks
Unit: US cents/lb
Publication: Monthly, First Tuesday 3-4pm London time

MB-SN-0036 Tin 99.85% ingot premium, in-whs Baltimore, $/tonne
Quality: Ingot. Min 99.85% tin purity conforming to LME specification: BS EN 610:1996, max 500ppm lead, total impurities must not exceed 0.15%
Quantity: Min 20 tonnes
Location: In-warehouse Baltimore, premium on top of LME cash prices
Payment terms: Cash against documents, other payment terms normalized
Unit: USD/tonne
Publication: Monthly, First Tuesday 3-4pm London time

MB-SN-0011 Tin grade A min 99.85% ingot premium, ddp Midwest US, $/tonne
Quality: Delivered premium over cost of tin of 99.85% purity (min) conforming to BS EN 610:1996
Quantity: Min 20 tonnes
Location: DDP US
Timing: Within 4 weeks
Payment terms: 30 days, other payment terms normalizedUnit: USD/tonne
Unit: USD/tonne
Publication: Monthly, First Tuesday 3-4pm London time

MB-NI-0240 Nickel 4×4 cathode premium, delivered Midwest US, US cents/lb
Quality: 4×4 cut cathode. 99.8% minimum primary nickel conforming to LME specification: ASTM B39-79 (2013) or GB/T 6516-2010 – Ni9990 grade specification: ASTM B39-79 (2013) or GB/T 6516-2010 – Ni9990 grade
Quantity: Min 20 tonnes
Location: Delivered consumer works, US Midwest
Timing: Within 4 weeks
Payment terms: 30 days, other payment terms normalized
Unit: US cents/lb
Publication: Monthly, First Tuesday 3-4pm London time

MB-NI-0241 Nickel briquette premium, delivered Midwest US, US cents/lb
Quality: Briquette. 99.8% minimum primary nickel conforming to LME specification: ASTM B39-79 (2013) or GB/T 6516-2010 – Ni9990 grade specification: ASTM B39-79 (2013) or GB/T 6516-2010 – Ni9990 grade
Quantity: Min 20 tonnes
Location: Delivered consumer works, US Midwest
Timing: Within 4 weeks
Payment terms: 30 days, other payment terms normalized
Unit: US cents/lb
Publication: Monthly, First Tuesday 3-4pm London time

This change also affects the timing window of the corresponding all-in tin grade A price, moving it to “within 4 weeks” from “within 2 weeks,” with the amendment of price frequency in italics:

MB-SN-0012 Tin grade A min 99.85% ingot all-in price, ddp Midwest US, $/tonne
Quality: Ingot. Min 99.85% tin purity conforming to LME specification BS EN 610:1996 and ASTM grade A, max 500ppm lead
Quantity: Min 20 tonnes
Location: Delivered consumer works, US Midwest
Timing: Within 4 weeks
Payment terms: 30 days, other payment terms normalized
Unit: US cents/lb
Publication: Daily

These prices are a part of the Fastmarkets Base Metals package.

To provide feedback on any of these prices or if you would like to provide price information by becoming a data submitter, please contact Rae Boyadjis by email at: pricing@fastmarkets.com. Please add the subject heading “FAO: Rae Boyadjis, re: US tin, lead and nickel premiums.”

Please indicate if comments are confidential. Fastmarkets will consider all comments received and will make comments not marked as confidential available upon request.

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

What to read next
The publication of Fastmarkets’ AG-PLM-0019 refined bleached deodorised (RBD) palm olein, cfr South China assessment for Thursday July 24 was delayed due to a reporter error. Fastmarkets’ pricing database has been updated.
Fastmarkets has launched a MB-STE-0935 Steel reinforcing bar (rebar), differential to shredded auto scrap Chicago, fob mill US, $/gross ton to complement its existing suite of steelmaking raw materials to finished product differentials on Wednesday July 23. This strategic launch is designed to offer the market a single reference price denoting the differential between steel […]
The following prices were affected:MB-BI-0001 bismuth 99.99% Bi min, in-whs Rotterdam, $ per lbMB-CD-0001 cadmium 99.95% min, cif global ports, cents per lbMB-CD-0002 cadmium 99.99% min, cif global ports, cents per lb. These prices are part of Fastmarkets’ minor metals package. For more information, or to provide feedback on the delayed publication of these prices, or if you […]
After a consultation period from June 20 to July 18, Fastmarkets made the decision to discontinue these assessments because the outright prices no longer reflect market conditions, with the market shifting toward payables as the dominant pricing method. The affected prices are:MB-NIO-0003 nickel mixed hydroxide precipitate outright price, cif China, Japan and South Korea, $ per tonneMB-NIO-0005 nickel […]
The publication of Fastmarkets’ MB-CO-0004 cobalt alloy grade, in-whs Rotterdam and MB-CO-0005 cobalt standard grade, in-whs Rotterdam assessments for Wednesday July 23 was delayed because of a system error. Fastmarkets’ pricing database has been updated.
On reviewing the methodology specifications, Fastmarkets is proposing to update the quantity, location and payment terms of the price. The specifications would be as follows, with amendments in italics: MB-SI-0003 silicon, ddp US, US cents per lbQuality: Si: 98.50%, Fe: 0.50%, Al: 0.50%, Ca: 0.30%Quantity: Min 20 tonnesLocation:ddp USUnit: US cents per lbPayment terms: 30 days, other terms normalizedPublication: Weekly, Thursday 4-5pm […]