PRICING NOTICE: Amendment to frequency of cobalt hydroxide index, min 30% Co, cif China

After a consultation period, Fastmarkets has amended the frequency of its cobalt hydroxide index, min 30% Co, cif China to weekly.

The cobalt hydroxide index, min 30% Co, cif China was published on the last working day of the month until the end of July, and has been published fortnightly since August 7.

Fastmarkets has seen a sustained increase in spot activity for fixed-price, prompt cobalt hydroxide deals amid persistent spot supply constraints stemming from logistics disruptions in Africa. Furthermore, during times of uncertainty for the outlook of the benchmark price for cobalt standard grade, in-whs Rotterdam, against which payables are settled, buyers have sought fixed hydroxide prices in an effort to cut their exposure to metal price volatility.

The base specifications for the cobalt hydroxide index are as follows with increased frequency marked in italics. As per the earlier consultation, the publication timing has also been brought forward to between 2pm and 3pm London time, aligned with the deadline for other minor metals, ores and alloys prices published from London on Fridays.

MB-CO-0020: Cobalt hydroxide index 30% Co min, cif China, $/Ib
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: $/lb
Payment terms: Letter of credit at sight, current price month (‘M’)
Publication time: Between 2pm and 3pm London time, Friday, weekly
Note: Where the pricing day falls on a public holiday in England and Wales, the index will be published on the closest working day preceding that date.

The index will next be published on Friday September 4.

To provide feedback on the cobalt hydroxide index, min 30% Co, cif China, or if you would like to provide price information by becoming a data submitter to Fastmarkets’ cobalt price assessments, please contact Charlotte Radford and Susan Zou by email at: pricing@fastmarkets.com. Please add the subject heading ‘FAO: Charlotte Radford/Susan Zou, re: cobalt hydroxide index.’

To see all Fastmarkets’ pricing methodology and specification documents go to https://www.fastmarkets.com/about-us/methodology.

What to read next
This initiative marks a significant step towards reducing industrial greenhouse gas emissions and championing the US in the global decarbonization effort
The most recent financial results published by base metals mining companies highlight just how inflation is affecting profit margins, with increasing wages, financing costs and input prices all hitting profits, sources told Fastmarkets in the week to Thursday March 28
The March 2024 monthly averages were published today based on the index values of March 1, 8, 15 and 22.
Fastmarkets has corrected its MB-STE-0034 steel domestic plate 8-40mm, exw Northern Europe and MB-STE-0035 Steel domestic plate 8-40mm, exw Southern Europe assessments, which were published incorrectly on Wednesday March 27.
The publication of Fastmarkets’ daily assessment for aluminium P1020A premium, ddp Midwest US was delayed on Wednesday March 27. Fastmarkets’ pricing database has been updated.
Fastmarkets' holiday pricing schedule for 2024 has been updated to reflect the change in the pricing frequency of its mixed hydroxide precipitate (MHP) cif China, Japan and South Korea (CJK) prices.