Proposal to amend frequency of spodumene spot price assessment

Following an initial consultation with the market, and a review of typical data sets that are collected over the recent months, Fastmarkets now proposes to assess and publish the spodumene min 6% Li2O, spot price, cif China assessment twice a week, on Wednesdays and Fridays, from the current fortnightly basis every other Thursday.

This more frequent price assessment will enable Fastmarkets to reflect spot market dynamics in a more timely manner, particularly while spodumene pricing becomes more closely connected to lithium chemicals prices.

The proposed new specifications are listed below, with the proposed amendment of price frequency in italics:

MB-LI-0012 Spodumene min 6% Li2O, spot price, cif China, $/tonne
Quality: A mineral concentrate accepted by buyers for conversion in lithium chemicals used in battery applications (any size will be accepted) and with the following chemical composition: Li2O 6% (min 5.7 Li2O and max 6.1% Li2O accepted if it can be normalized to 6%); Fe2O3 < 1.3% (max 1.5% Fe2O3 accepted if it can be normalized to < 1.3%), H2O <10%
Quantity: 1,000 tonnes
Location: cif China
Timing: 90 days
Unit: USD/tonne
Publication: twice a week, Wednesday and Friday, 3-4pm London time

This price is a part of the Fastmarkets industrial minerals package.

The consultation period for the above proposal will start on Friday, November 3 and end one month from the date of this pricing notice, on Friday December 1, with the amended frequency, subject to feedback, taking effect from Wednesday, December 6.

All historical data relating to the assessment prior to the amendment will remain available in the pricing section of the Fastmarkets website.

To provide feedback on the spodumene price assessment amendement, or if you would like to provide price information by becoming a data submitter, please contact Callum Perry and Zihao Li by email at: pricing@fastmarkets.com. Please add the subject heading FAO: Callum Perry/Zihao Li re: spodumene price assessment. 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, please go to https://www.fastmarkets.com/methodology.