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With regard to the frequency, responses to the original consultation agreed that the market is in need of a weekly index.
In terms of the specification, the consultation on the base and range of concentrate chemical specifications that Fastmarkets will accept for the index will continue until after the CESCO Asia summit in Santiago, Chile, where members of our pricing team will gather more feedback.
Fastmarkets proposes to revise lower the copper content per tonne of concentrate for the base specification to 26% from 28% currently.
As for the detailed changes to other chemicals, please refer to the table as below:
The changes will take place, subject to market feedback, from April 25.
In April, the index will be published on April 15 and April 26, then from Friday May 3 the index will be calculated and published once a week, every Friday.
If you have any comments on these proposed changes, or if you would like to provide price information by becoming a data submitter to the copper concentrate TC/RC index, please contact Archie Hunter/Julian Luk by email at pricing@fastmarkets.com. Please add the subject heading ‘FAO: AH/JL re: copper concentrate TC/RC index.’
To see all Fastmarkets’ pricing methodology and specification documents, please go to https://www.fastmarkets.com/about-us/methodology.