Decision to launch CIF global tungsten concentrate price assessment: pricing notice

Fastmarkets will launch a new weekly price assessment for tungsten concentrate, basis 50-70% WO3, spot price, $/mtu WO3 on Friday December 19, with a slight amendment to the originally proposed incoterms.

Based on feedback from market participants, Fastmarkets will now launch a price assessed on a CIF global basis, rather than on a CIF Rotterdam and CIF Baltimore basis.

Market participants said they preferred this approach because freight is considered only a small part of the price and material is shipped to a wide variety of locations.

No other changes have been made to the original proposal.

The original consultation can be found here.

The new weekly price assessment will be launched on Friday December 19.

The new assessment will be in addition to our existing price assessment for MB-W-0002 tungsten concentrate 65% WO3, in-whs China.

The updated specification is as follows, with the amendment in italics:

MB-W-0005 – Tungsten concentrate, basis 50-70% WO3, spot price, CIF global, $/mtu WO3 
Quality: Powder, free flowing. WO3 50-70%, Mo 1% max, U + Th 0.05% max, SiO2 typically ≤25%, radioactivity typically 0.4-0.6 Bq/g and below class 7 hazardous material
Quantity: Min 20 tonnes
Location: CIF global
Timing: For material arriving within three months
Unit: USD per mtu WO3
Payment terms: 30 days (other payment terms normalized)
Publication: Weekly. Friday, 2-3pm London time
Notes: Prices expressed as a percentage of Fastmarkets’ price assessment for MB-W-0001 Tungsten APT 88.5% WO3 min Europe, cif Rotterdam and Baltimore duty-free, $/mtu WO3 may be included, and will be recorded in $/mtu, using the midpoint of the latest published APT range.

This price will be part of Fastmarkets’ ores and alloys physical price package.

To provide feedback on this price or if you would like to provide price information by becoming a data submitter to Fastmarkets’ tungsten prices, please contact us by email at ores alloys@fastmarkets.com and pricing@fastmarkets.com. Please add the subject heading “re: tungsten concentrate, basis 50-70% WO3, spot price, CIF global, $/mtu WO3.”

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 the Fastmarkets methodology page.