Following a month-long consultation period, Fastmarkets is amending the specification terms of its delivery basis to a cif dual port basis, including Rotterdam and Baltimore.
This update is to reflect decreasing spot market volumes in Europe in recent years. The change means more data will be considered in our weekly price assessments while not proving so broad that they produce price ranges wide enough to compromise their utility for physical market application or for tracking market trends.
The next pricing assessment will take place on Friday February 28.
The new specifications are listed below with the amendment in italics:
Assessment: Tungsten APT min 88.5 WO3 cif Rotterdam and Baltimore duty free $/ mtu WO3
Basis: cif Rotterdam and Baltimore, duty free
Unit: USD per mtu WO3
Min lot size: 20 tonnes (+/- 2%)
Payment terms: Cash; Delivered up to three months in advance considered spot business
Quality: WO3: 88.5% min; Al: 0.001% max; As: 0.0005% max; Bi: 0.0005% max; Ca: 0.001% max; Cd: 0.0005% max; Co: 0.0005% max; Cr: 0.0005% max; Cu: 0.0005% max; Fe: 0.001% max; K: 0.001% max; Mn: 0.001% max; Mg: 0.001% max; Mo: 0.002% max; Na: 0.001% max; Ni: 0.0005% max; P: 0.001% max; Pb: 0.0005% max; S:0.001% max; Sb: 0.0005% max; Si: 0.001% max; Sn: 0.0005% max; Ti: 0.0005% max; V:0.0005% max
Form: White finely divided free flowing crystals
Publication: Weekly. Friday 2-3pm London
All historical data relating to this price prior to the amendment will remain available in the pricing section of the Fastmarkets website.
If you would like to provide feedback on this price or if you would like to provide price information by becoming a data submitter to the APT cif Rotterdam and Baltimore price assessment, please contact Ewa Manthey by email at pricing@fastmarkets.com. Please add the subject heading ‘FAO: Ewa Manthey, re: APT cif Rotterdam and Baltimore price assessment.’
To see all of Fastmarkets’ pricing methodology and specification documents, please go to www.fastmarkets.com/about-us/methodology.
