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The proposal follows preliminary discussions with the market, which suggests a lack of liquidity for the commodities.
The proposed new specifications are listed below, with the proposed amendment of price frequency in italics:
MB-MAG-0005 Magnesia, dead burned, 97.5% MgO, lump, fob China, $/tonneQuality: Dead burned 97.5% MgO lump, bulkQuantity: Min 1,000 tonnesLocation: fob ChinaTiming: SpotUnit: $/tonnePublication: Monthly, last Tuesday of the month, 7pm Shanghai timeMB-MAG-0002 Magnesia, dead burned, 90% MgO, lump, fob China, $/tonneQuality: Dead burned 90% MgO lump, bulkQuantity: Min 1,000 tonnesLocation: fob ChinaTiming: SpotUnit: $/tonnePublication: Monthly, last Tuesday of the month, 7pm Shanghai timeMB-MAG-0009 Magnesia, fused, 97% MgO, Ca:Si 2:1, lump, fob China, $/tonneQuality: Fused 97% MgO, 2:1 Ca:Si, bulkQuantity: Min 1,000 tonnesLocation: fob ChinaTiming: SpotUnit: $/tonnePublication: Monthly, last Tuesday of the month, 7pm Shanghai timeMB-MAG-0007 Magnesia, fused, 98% MgO, lump, fob China, $/tonneQuality: Fused 98% MgO lump, bulkQuantity: Min 1,000 tonnesLocation: fob ChinaTiming: SpotUnit: $/tonnePublication: Monthly, last Tuesday of the month, 7pm Shanghai timeThese prices are a part of the Fastmarkets industrial minerals package.
The consultation period for this proposed amendment begins on Wednesday April 23 and will end on Friday May 23, with changes taking place, subject to market feedback, from Tuesday May 27.
To provide feedback or if you would like to provide price information by becoming a data submitter to this price assessment, please contact Nina Hu by email at: pricing@fastmarkets.com. Please add the subject heading “FAO: Nina Hu, re: Magnesia FOB China.”
Please indicate if comments are confidential. Fastmarkets will consider all comments received and will make comments not marked as confidential available upon request.
To see all Fastmarkets pricing methodology and specification documents, go to https://www.fastmarkets.com/methodology.