Proposal to amend frequency of MHP price assessment

Fastmarkets proposes to amend the frequency of its MB-NIO-0003 nickel mixed hydroxide precipitate outright price, cif China, Japan, and South Korea and MB-NIO-0004 nickel mixed hydroxide precipitate payable indicator, % London Metal Exchange, cif China, Japan, and South Korea from once per week to daily.

The move to daily will better allow Fastmarkets to capture fluctuations in an increasingly liquid market.

The growth in mixed hydroxide precipitate (MHP) production globally, as well as its growing importance as a key feedstock in the production of battery grade nickel sulfate, has resulted in increased focus on the market and pricing trends.

The switch to daily pricing comes following initial positive market feedback requesting further transparency for the market.

This consultation is separate to the cobalt consultation launched on September 18, although that consultation is also affected.

The new proposed specifications for the MHP prices will be as follows:

MB-NIO-0003 Nickel mixed hydroxide precipitate, outright price, cif China, Japan and South Korea, $/tonne
Quality: 30-45% nickel min/max, 1-6% cobalt min/max, 4% Zn max, 4% Cu max, 9% Mn max, 5% Mg max, 5% S max, 0.5% Fe max, moisture content 35- 40%
Quantity: Min 100 tonnes
Location: CIF major ports China, Japan and South Korea (other ports normalized)
Timing: 45 days
Unit: USD per tonne, inferred basis of the payable range or expressed by participants
Publication: Daily, 4pm London time

MB-NIO-0004 Nickel mixed hydroxide precipitate payable indicator, % London Metal Exchange, cif China, Japan and South Korea
Quality: 30-45% nickel min/max, 1-6% cobalt min/max, 4% Zn max, 4% Cu max, 9% Mn max, 5% Mg max, 5% S max, 0.5% Fe max, moisture content 35- 40%
Quantity: Min 100 tonnes
Location: CIF major ports China, Japan and South Korea (other ports normalized)
Timing: 45 days
Unit: % of cobalt metal standard grade in-whs Rotterdam
Publication: Daily 4pm London time

The consultation period for this proposed amendment starts from Friday, September 29 and will end on Wednesday, October 25. The amendment will take place, subject to market feedback, on Friday, October 27.

To provide feedback on this price, or if you would like to provide price information by becoming a data submitter to this price, please contact Callum Perry by email at pricing@fastmarkets.com. Please add the subject heading “FAO: Callum Perry, re MHP prices.”

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.

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