Extension of consultation for amendment to publication frequency of nickel sulfate cif China, Japan and Korea

The original consultation notice was published on August 22.

Fastmarkets proposes to change publication to weekly on Friday at 4pm London time, and to switch to using a weekly average LME cash price – consisting of the price at the close of business on Friday of the previous week to the close of business on Thursday, the day before publication – as the basis.

Fastmarkets invites feedback on whether the prior month average would instead be the preferred basis for the weekly prices published on each Friday of the following month.

Simultaneously, Fastmarkets invites comment on the existing specifications, particularly whether maximum limits on copper, iron and other impurities should be introduced and the existing cobalt content increased to reflect more closely a higher tolerance in battery-grade nickel sulfate against plating grade.

The current specifications for Fastmarkets’ nickel sulfate prices, launched on April 1, 2021, are as follows:

MB-NI-0246: Nickel sulfate, cif China, Japan and Korea, $/tonne
Quality: Accepted by buyer for use in battery applications with chemical composition: Ni content, base 22.3% max, min 22%, cobalt 50ppm max
Quantity: Min 1 tonne
Location: cif major ports China, Japan and South Korea (other ports normalized)
Timing: Within 60 days
Unit: USD/tonne
Publication: Monthly, first working day of each month, 4pm London time

MB-NI-0247: Nickel sulfate premium, cif China, Japan and Korea, $/tonne
Quality: Accepted by buyer for use in battery applications with chemical composition: Ni content, base 22.3% max, min 22%, cobalt 50ppm max
Quantity: Min 1 tonne
Location: cif major ports China, Japan and South Korea, on top of monthly average LME nickel cash price
Timing: Within 60 days
Unit: USD/tonne Publication: Monthly, first working day of each month, 4pm London time

The extended consultation period for this proposed amendment will start on Monday September 19 and end on Monday October 17. The change to weekly publication would take place, subject to market feedback, on Friday October 21.

To provide feedback on this proposed amendment to nickel sulfate cif China, Japan and Korea prices, or if you would like to provide price information by becoming a data submitter, please contact Callum Perry by email at: pricing@fastmarkets.com. Please add the subject heading “FAO: Callum Perry/Juliet Walsh, re: nickel sulfate cif China, Japan and Korea.”

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