Extension of the consultation period for the launch of low-grade ferro-nickel, 20-25% Ni contained cif China

The initial consultation, started on October 18, has received mixed views to price the market amid low spot liquidity and a sensitive and volatile nickel price on London Metal Exchange.

To properly price a low spot liquidity and LME nickel price-sensitive market, Fastmarkets has decided to extend the consultation period of the proposal to launch low-grade ferro-nickel, 20-25% Ni contained cif China price assessment until December 4.

During the extended consultation period, Fastmarkets invited market feedback on assessing low-grade ferro-nickel, 20-25% Ni contained cif China on an outright basis and on a premium/discount basis with details as below, to provide greater transparency to the ferro-nickel market and a broader reference for participants.

The proposed specifications for the prices are as follows:

Ferro-nickel 20-25% nickel contained, premium/discount, cif China, $/tonne
Quality: Ferro-nickel, 20-25% Ni, S 0.07% max, P 0.05% max
Quantity: min 100 nickel metal tonnes per lot
Location: CIF China
Unit: USD/tonne
Payment terms: Cash, other payment terms normalized
Publication: Fortnightly, Monday 7pm Shanghai time

Ferro-nickel 20-25% nickel contained, outright price, cif China, $/tonne
Quality: Ferro-nickel, 20-25% Ni, S 0.07% max, P 0.05% max
Quantity: min 100 nickel metal tonnes per lot
Location: CIF China
Unit: USD/tonne
Payment terms: Cash, other payment terms normalized
Publication: Fortnightly, Monday 7pm Shanghai time
Notes: In the absence of data, Fastmarkets will calculate this price based upon premium/discount to London Metal Exchange nickel price.

The above prices will be part of the Fastmarkets ores and alloys package.

The extended consultation period for this proposed launch starts on Monday November 25 and will end on Wednesday December 4. The launch will then take place, subject to market feedback, on Monday December 9.

To provide feedback on this proposal or if you would like to provide price information by becoming a data submitter to this price, please contact Sally Zhang, Laura Li or Dylan Duan by email at: pricing@fastmarkets.com. Please add the subject heading “FAO: Sally Zhang/Laura Li/Dylan Duan, re: low grade ferro-nickel, 20-25% Ni contained, cif China.”

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.