According to preliminary market feedback, one-tonne big bags are the most commonly accepted packaging by consumers of ferro-tungsten in Europe and are regularly traded in the spot market.
The proposed change will avoid potential price differential between different packaging of ferro-tungsten and avoid ranges too wide to compromise their utility for physical market applications or for tracking market trends. Previously, there was no detail on packaging within the specification.
The consultation period for this proposed amendment starts from May 26 and will end one month from the date of this pricing notice, on June 26, with changes taking place from July 3, subject to market feedback.
The proposed new specifications are listed below, with the proposed amendment in italics:
MB-FEU-0001 - Ferro-tungsten basis 75% W, in-whs dup Rotterdam, $/kg W
Quality: Lump. W 75.00% min, C 0.40% max, S 0.08% max, Mn 0.50% max, As 0.10% max, Sn 0.08% max, P 0.05% max, Si 0.70% max, Cu 0.15% max, Sb 0.05% max
Quantity: Min 3-tonne lots
Location: dup Rotterdam
Unit: USD per kg W
Payment terms: Cash, other payment terms normalized
Publication: Twice weekly. Wednesday and Friday 2-3pm London
Notes: Packaged in 1-tonne big bags
To provide feedback on the proposed amendment or if you would like to provide price information by becoming a data submitter to the ferro-tungsten in-warehouse Rotterdam price assessment, please contact Ewa Manthey by email at pricing@fastmarkets.com. Please add the subject heading ‘FAO: Ewa Manthey, re: ferro-tungsten in-warehouse Rotterdam price assessment.’
To see all of Fastmarkets’ pricing methodology and specification documents, go to https://www.fastmarkets.com/about-us/methodology