PRICING NOTICE: Amendment of Fastmarkets MB cobalt prices
Fastmarkets has changed the names of its benchmark in-warehouse Rotterdam cobalt price assessments on January 2, 2019.
The name ‘standard-grade’ has replaced the name ‘low-grade’. The name ‘alloy-grade’ has replaced the name ‘high-grade’.
These changes follow a market consultation on Fastmarkets MB’s international cobalt price specifications completed in April 2018.
All historical data relating to both cobalt price assessments remains available in the pricing section of the Fastmarkets MB website. Fastmarkets reviews the specifications, including the potential to include any new brands, for its cobalt price assessments on an ongoing basis.
As a result of these changes, the names of the following prices have also changed as of January 2.
Cobalt sulfate, ex-works China, adjustment to standard-grade cobalt low-end price at Co 20.5% basis, $ per Ib
Standard-grade cobalt, weighted average of all confirmed international trades, $ per Ib, in-warehouse
Alloy-grade cobalt, weighted average of all confirmed international trades, $ per lb, in warehouse
In addition, Tocantins broken cathodes and Norilsk ingots (K1A and K1AY) are no longer considered as part of the standard-grade (formerly low-grade) assessment. As a result of this change, the minimum cobalt content for the standard quote changed to 99.8% from 99.3% previously.
Fastmarkets MB completed an external assurance review of some of its benchmark prices, including cobalt, carried out by independent professional services company PricewaterhouseCoopers (PwC), in September 2018.
To provide feedback on these changes or if you would like to provide price information by becoming a data submitter to these two cobalt price assessments, please contact Charlotte Radford by email at: email@example.com. Please add the subject heading “FAO: Charlotte Radford, re: Cobalt”
To see all Fastmarkets MB pricing methodology and specification documents go to www.metalbulletin.com/prices/pricing-methodology