The consultation, which was originally open until March 6, seeks to ensure that our methodologies continue to reflect the physical market and representative cobalt metal brands, in compliance with the International Organization of Securities Commissions (IOSCO) principles for Price Reporting Agencies (PRAs). This includes all elements of our pricing process, our price specifications and publication frequency.
You can find the current methodology for cobalt metal pricing at https://www.fastmarkets.com/methodology.
Specifically, Fastmarkets is seeking further feedback on:
- The moving of Sherritt briquettes from alloy grade to standard grade.
- Classifying Vale rounds as the two separate brands that have been historically marketed as such. Vale Port Colborne to be designated as alloy grade and Vale Long Harbour to be designated as standard grade.
- Specifying the duty status of standard and alloy grade cobalt metal in Rotterdam. While there is no EU duty on cobalt, some market participants have said clarification of duty-status is important, in case any such duty is levied on cobalt metal in the future.
Extended consultation period
The extended consultation period for these proposed changes starts from Monday March 13 and will end on Monday March 27. Any changes will then take place, subject to market feedback, on an agreed-upon date after the end of the extended period.
Fastmarkets may choose to implement some, all or none of these suggestions. In the event that any amendments and/or additions are needed to these proposals, Fastmarkets will launch a renewed consultation.
In addition, we are open to discussions on other possible changes to our cobalt metal in-whs Rotterdam price.
To provide feedback on cobalt standard grade, in-whs Rotterdam and cobalt alloy grade, in-whs Rotterdam, or if you would like to provide price information by becoming a data submitter to the cobalt metal price series, please contact Alex Cook and Justin Yang by email at: pricing@fastmarkets.com. Please add the subject heading “FAO: Alex Cook/Justin Yang, re: Cobalt Brand Realignment.”
Fastmarkets will publish the outcome of this extended consultation by March 31, including a summary of the feedback.
To see all Fastmarkets’ pricing methodology and specification documents go to https://www.fastmarkets.com/methodology.
