MethodologyContact usLogin
These will be replaced with new premiums for nickel briquettes and 4×4 cut cathodes, delivered consumer works, which will be published between 3pm and 4pm London time on Tuesdays.
Several market participants, including producers, traders and consumers, have requested the move away from melting- and plating-grade nickel.
They contend that the publication of nickel shapes with tighter specifications should result in a narrower price range and more representative prices, especially considering that briquette and cut cathodes often move independently from each other.
Additionally, pricing shapes will also more closely align American Metal Market and Metal Bulletin’s US prices with those in other global regions.
Plating-grade nickel, meanwhile, has an illiquid spot market with most business transacted via long-term contracts.
Metal Bulletin also understands that in recent years some mills have started using lower-grade cut cathodes in higher-purity alloys but these participants still report those as plating-grade transactions. So essentially, plating-grade nickel is now based more on the industry that consumes the nickel rather than the actual chemistry of the material.
Prices to be discontinued:
Nickel melting-grade premium Type: Assessed range Basis: Delivered consumer works US Grade: 99.8% minimum primary nickel conforming to London Metal Exchange specification: ASTM B39-79 (2013) or GB/T 6516-2010 – Ni9990 grade Unit and currency: US cents per lb Minimum lot size: 6 tonnes Payment terms: 30 days, other payment terms normalized Delivery window: Within one week Form: uncut cathode, 4×4 cathodes, briquette Publication: Weekly. Tuesday between 3pm and 4pm London time
Nickel plating-grade premium Type: Assessed range Basis: Delivered consumer works US Grade: 99.8% minimum primary nickel conforming to LME specification: ASTM B39-79 (2013) or GB/T 6516-2010 – Ni9990 grade Unit and currency: US cents per lb Minimum lot size: 6 tonnes Payment terms: 30 days, other payment terms normalized Delivery window: Within one week Form: cathodes, briquette Publication: Weekly. Tuesday between 3pm and 4pm London time
Premiums and prices to be launched:
Nickel 4×4 cathode delivered US premium Type: Assessed range Basis: Delivered consumer works US Grade: 99.8% minimum primary nickel conforming to LME specification: ASTM B39-79 (2013) or GB/T 6516-2010 – Ni9990 grade specification: ASTM B39-79 (2013) or GB/T 6516-2010 – Ni9990 grade Unit and currency: US cents per lb Minimum lot size: 20 tonnes Payment terms: 30 days, other payment terms normalized Delivery window: Within 4 weeks Form: 4×4 cut cathode Publication: Weekly. Tuesday between 3pm and 4pm London time
Nickel briquette delivered US premium Type: Assessed range Basis: Delivered consumer works US Grade: 99.80% min primary nickel conforming to LME specification: ASTM B39-79 (2013) or GB/T 6516-2010 – Ni9990 grade specification: ASTM B39-79 (2013) or GB/T 6516-2010 – Ni9990 grade Unit and currency: US cents per lb Min lot size: 20 tonnes Payment terms: 30 days, other payment terms normalized Delivery window: Within 4 weeks Form: briquette Publication: Weekly. Tuesday between 3pm and 4pm London time
The consultation period for these price discontinuations and price launches will end one month from the date of this pricing notice, on Thursday February 22. Metal Bulletin and American Metal Market will publish the outcome of the consultation, along with a summary of comments received as well as responses to those comments.
To provide feedback on this consultation or if you would like to provide price information by becoming a data submitter, please contact North American non-ferrous editor Tom Jennemann at pricing@metalbulletin.com. Please add the subject heading FAO: Tom Jennemann, re: melting- and plating-grade nickel delivered to the United States.
To see all Metal Bulletin’s pricing methodology and specification documents go to https://www.metalbulletin.com/prices/pricing-methodology.html