Fastmarkets plans to align the pricing holiday schedule of the cobalt hydroxide payable indicator, min 30% Co, cif China, % payable of Fastmarkets’ standard-grade cobalt price (low-end) to public holidays in England and Wales, rather than those in China. The change is proposed to take effect from Saturday January 1, 2022.
The change will align the pricing holiday of the cobalt hydroxide payable indicator with that of its underlying metal price, namely cobalt standard-grade, in-whs Rotterdam.
When a pricing day for the cobalt hydroxide payable indicator falls on a public holiday in England and Wales, the price is not assessed or published.
There is no other change in the specification of cobalt hydroxide payable indicator.
The detailed specifications for this assessment are listed below with proposed amendments in italics:
MB-CO-0021: Cobalt hydroxide payable indicator, min 30% Co, cif China, % payable of Fastmarkets’ standard-grade cobalt price (low end)
Quality: Units produced from large-scale mining activity, with the following chemical composition: Co 30% min, Mn 6.5% max, Mg 6.5% max, S 5% max; Cd 100ppm max; limited concentration of natural radioactivity: GB20664-2006 (suitable for customs clearance into China).
Quantity: Min 50 tonnes (cobalt content)
Location: cif China (other terms normalized)
Timing: 45 days
Unit: % payable of Fastmarkets’ standard-grade cobalt price (low end, $ per lb)
Payment terms: Letter of credit at sight, current and following price month (‘M’ and ‘M+1’)
Publication: Twice weekly, Wednesday and Friday, 3pm London time
Notes: Where the publication day falls on a public holiday in England and Wales, the assessment will not be published.
The specifications of the cobalt hydroxide index 30% Co min, cif China, $/Ib remain unchanged.
The consultation period for the above proposal will end 30 days from the date of this pricing notice, on December 22, with the amended holiday pricing schedule, subject to feedback, taking effect from January 1, 2022.
To provide feedback on the pricing holiday of cobalt hydroxide payable indicator, or if you would like to provide price information by becoming a data submitter to Fastmarkets’ cobalt price assessments, please contact Susan Zou or Janie Davies by email at: pricing@fastmarkets.com. Please add the subject heading ‘FAO: Susan Zou/Janie Davies, re: cobalt hydroxide price.’
To see all of Fastmarkets’ pricing methodology and specification documents, go to https://www.fastmarkets.com/about-us/methodology.
