Fastmarkets proposes increase to European copper cathode pricing frequency, clarifies inclusion of other regional data: pricing notice

This frequency change follows a review of datasets collected over the recent months and would better align with regional trading practices. This more frequent price assessment will enable Fastmarkets to reflect spot market dynamics in a timelier manner.

Fastmarkets proposes to assess and publish the premiums once a week on Tuesdays, from the current fortnightly basis every other Tuesday.

The proposed new specifications are listed below, with the proposed amendment of price frequency in italics:

MB-CU-0369 Copper grade A cathode premium, cif Rotterdam, $/tonne
Quality: Grade A cathode 99.9935% min copper conforming to LME specifications BS EN 1978:1998 – Cu[1]CATH-1
Quantity: Min 25 tonnes
Location: cif delivery in Rotterdam, duty unpaid premium on top of LME cash prices Timing: Within 4 weeks
Unit: USD/tonne Payment terms: Cash, other payment terms normalized
Publication: Once every week. Tuesday 3-4pm London time
Note: Exchange deliverable units. Fastmarkets may consider relative values of the same commodity in different regions for normalization.

MB-CU-0406 Copper grade A cathode premium, cif Leghorn, $/tonne
Quality: Grade A cathode 99.9935% min copper conforming to LME specifications BS EN 1978:1998 – Cu[1]CATH-1
Quantity: 25 tonnes
Location: cif delivery in Leghorn (Italy), duty unpaid premium on top of LME cash prices Timing: Within 4 weeks Unit: USD/tonne
Payment terms: Cash, other payment terms normalized
Publication: Once every week. Tuesday 3-4pm London time
Notes: Assessed range and single number Exchange deliverable units. Fastmarkets may consider relative values of the same commodity in different regions for normalization.

MB-CU-0372 Copper grade A cathode premium, delivered Germany, $/tonne
Quality: Grade A cathode 99.9935% min copper conforming to LME specifications BS EN 1978:1998 – Cu[1]CATH-1
Quantity: Min 25 tonnes
Location: Delivered consumer works in Germany, duty unpaid premium on top of LME cash prices
Timing: Within 4 weeks
Unit: USD/tonne
Payment terms: Cash, other payment terms normalized
Publication: Once every week. Tuesday 3-4pm London time
Note: Exchange deliverable units. Fastmarkets may consider relative values of the same commodity in different regions for normalization.

Additionally, Fastmarkets wishes to clarify that other regional information is considered for these assessments. The methodology states that other factors will be considered in the price assessment process, including but not limited to: market fundamentals such as changes in inventory levels, shipments, operating rates and export volumes; relative fundamentals of similar commodities in the same region; relative values of the same commodity in different regions; and changes in the value of the commodity’s primary feedstock(s) or primary derived product(s).

The consultation period for the above proposal will start on Friday December 12 with the amended frequency, subject to feedback, taking effect from Tuesday December 30.

All historical data relating to the assessment prior to the amendment will remain available in the pricing section of the Fastmarkets website.

To provide feedback on the proposal, or if you would like to provide price information by becoming a data submitter, please contact basemetals@fastmarkets.com and pricing@fastmarkets.com.

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, please go to Fastmarkets methodology page.