This consultation sought to ensure the methodology continues to reflect the physical market, 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.
Fastmarkets also invited feedback on a change to the timing from within seven days to within 30 days.
No feedback was received as a result of the consultation and no material changes will be made, but the specification has been updated to a 30-day timing window.
The methodology will now be put through the IOSCO audit process.
The amended price specification is as follows:
MB-NI-0244 Nickel sulfate min 21%, max 22.5%; cobalt 10ppm max, exw China, yuan/tonne
Quality: Nickel content min 21%, max: 22.5%; cobalt 10ppm max
Quantity: Min 1 tonne
Location: ex-works mainland China – excludes Taiwan Region, HK SAR and Macao SAR
Timing: Within 30 days
Unit: CNY/tonne
Payment terms: Bank acceptance (other payments normalized)
Publication: Weekly. Friday 3-4pm London time
You can find the full methodology for Fastmarkets’ nickel sulfate ex-works China price here.
Fastmarkets invites feedback on a continual basis throughout the year. To offer feedback or comment related to this consultation, or if you would like to provide price information by becoming a data submitter to this price, please email pricing@fastmarkets.com and add the subject heading: ‘FAO Juliet Walsh, re nickel sulfate ex-works China methodology.’
To see all Fastmarkets’ pricing methodology and specification documents, please go to https://www.fastmarkets.com/about-us/methodology.