The change is reflective of the fact that the price assessment tracks activity on a cif China basis.
The detailed specifications for this assessment are listed below with amendments in italics:
MB-CO-0021: Cobalt hydroxide payable indicator, min 30% Co, cif China, % payable of Fastmarkets’ standard-grade cobalt price (low end)
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: % payable of Fastmarkets’ standard-grade cobalt price (low end, $ per lb)
Payment terms: Letter of credit at sight, current and following price month (‘M’ and ‘M+1’)
Publication: Twice weekly, Wednesday and Friday, 3pm London time
Notes: Where the publication day falls on a public holiday in China, the assessment will be rolled over from previous pricing session.
The specifications of the cobalt hydroxide index 30% Co min, cif China, $/Ib remain unchanged.
After the amendment takes effect, the cobalt hydroxide payable indicator will follow Chinese holidays and will be rolled over on the following dates in 2021:
- Wednesday February 17 (Chinese New Year)
- Wednesday May 5 (Labor Day)
- Friday October 1 and Wednesday October 6 (National Day holiday)
To provide feedback on this amendment, or if you would like to provide price information by becoming a data submitter to Fastmarkets’ cobalt price assessments, please contact Michael Greenfield, Dalila Ouerghi and Susan Zou by email at: pricing@fastmarkets.com. Please add the subject heading ‘FAO: Michael Greenfield/Dalila Ouerghi /Susan Zou, re: cobalt hydroxide price.’
To see all Fastmarkets’ pricing methodology and specification documents go to www.fastmarkets.com/ about-us/methodology