PRICING NOTICE: Launch of two copper concentrates index coefficients

Fastmarkets has launched two new coefficients for the copper concentrates market, with data available from November 2 and an update published for the first time on Friday November 6.

The new coefficients, MB-CU-0422 - Copper concentrates counterparty spread and MB-CU-0423 - Copper concentrates Co-VIU, will build on the success of Fastmarkets’ index reporting on the copper concentrates market, which started in 2014.

Both coefficients derive from Fastmarkets’ copper concentrates TC/RC index, cif Asia Pacific, $/tonne, which prices the mid-point of the market.

The index coefficient specifications will be as follow:

MB-CU-0422 - Copper concentrates counterparty spread, $/tonne
Quality: Cu (%) base 26, max 37, min 18; Au (g/dmt) base 1.1, max30; Ag (g/dmt) base 75, max 350; S (%) Base 32, max 38, min 20; Fe (%) base 28, max 35, min 15; Pb (%) base 0.07, max 4; Zn (%) base 1, max 4; As (%) base 0.17 max 2; Sb (%) base 0.018, max 0.2; Hg (ppm) base 2.5, max 10; Bi (ppm) base 145, max 2,000
Quantity: Minimum 5,000 dry metric tonnes cargo.
Location: cif Asia Pacific
Unit: $/tonne
Publication: Monthly, first working Friday in UK, before 4pm UK time.
Notes: The counterparty spread price will measure, in $/tonne, the net gap between the average smelters purchases price and the traders purchase price for copper concentrate TCs.

MB-CU-0423 - Copper concentrates copper VIU, $/tonne
Quality: Cu (%) base 26, max 37, min 18; Au (g/dmt) base 1.1, max30; Ag (g/dmt) base 75, max 350; S (%) Base 32, max 38, min 20; Fe (%) base 28, max 35, min 15; Pb (%) base 0.07, max 4; Zn (%) base 1, max 4; As (%) base 0.17 max 2; Sb (%) base 0.018, max 0.2; Hg (ppm) base 2.5, max 10; Bi (ppm) base 145, max 2,000
Quantity: Minimum 5,000 dry metric tonnes cargo.
Location: cif Asia Pacific
Unit: $/tonne
Publication: Monthly, first working Friday in UK, before 4pm UK time.
Notes: The copper VIU price measures the value-in-use in $/tonne of one extra percentage point of copper in a parcel of concentrates.

During Fastmarkets’ coverage of the copper concentrates market, many participants expressed interest in Fastmarkets expanding our pricing expertise in the market.

The counterparty spread coefficient will measure, in $/tonne, the net gap between the average smelter purchases price and the trader purchase price. The copper VIU coefficient measures the value-in-use in $/tonne of one extra percentage point of copper in the concentrate.

Fastmarkets has been collecting information on these coefficients for some time and publishing information around them in our weekly newsletter. This information, including historical data, will now be available via our websites, dashboard or syndicates.

The addition of these prices, which will be published in line with International Organization of Securities Commissions (IOSCO) standards and benchmark regulations, will reinforce Fastmarkets’ position as the leading global price reporting agency for the copper concentrates market.

To provide feedback or if you would like to provide price information by becoming a data submitter to these prices, please contact Julian Luk by email at pricing@fastmarkets.com. Please add the subject heading ‘FAO: Julian Luk, re: copper concentrates coefficients’

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

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