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
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: firstname.lastname@example.org. 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.