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The proposal for the change in publication frequency follows preliminary discussions with the market as well as an internal review of Fastmarkets’ data, which suggests lower spot liquidity and data usage, as well as price volatility.
The proposal for the change in delivery timing for the tin 99.99% ingot premium follows the proposed change to publication frequency from fortnightly to monthly to capture data points (deals, bids, offers, deals heard and assessments) within the proposed assessment period.
The proposed new specifications are listed below, with the proposed amendment of price frequency in italics:
MB-AL-0329 Aluminium P1020A premium, cif Taiwan, $/tonneQuality: P1020A or 99.7 % minimum Al purity (Si 0.10% max, Fe 0.20% max). IngotQuantity: Min 100 tonnesLocation: CIF main Taiwanese ports (Taipei, Kaohsiung or Keelung), premium on top of LME cash pricesUnit: USD/tonnePayment terms: Letter of credit or telegraphic transfer; other payment terms normalizedPublication: Monthly, first Tuesday of the month, 3-4pm London time
MB-CU-0386 Copper grade A cathode premium, cif Taiwan, $/tonneQuality: Grade A 99.9935% min copper cathode conforming to LME specifications: BS EN 1978:1998 – Cu-CATH-1Quantity: Min 25 tonnesLocation: CIF delivery in Taiwanese ports, duty-unpaid premium on top of LME cash pricesTiming: Within 6 weeksUnit: USD/tonnePayment terms: Letter of credit, telegraphic transfer or documents against payment; other payment terms normalizedPublication: Monthly, first Tuesday of the month, 3-4pm London timeNote: Exchange deliverable units
MB-PB-0084 Lead 99.97% ingot premium, cif Taiwan, $/tonneQuality: Lead of 99.97% to 99.99% purity conforming to LME specifications: BS EN 12659:1999, GB/T 469/2005 or ASTM B29-03 (2009)Quantity: 25 tonnesLocation: CIF delivery main Taiwan ports (Taipei, Kaohsiung or Keelung), duty-unpaid premium on top of LME cash pricesTiming: Within 5 weeksUnit: USD/tonnePayment terms: Letter of credit, telegraphic transfer or cash against documents; other terms normalizedPublication: Monthly, first Tuesday of the month, 3-4pm London time
MB-PB-0083 Lead 99.99% ingot premium, cif Taiwan, $/tonneQuality: Lead ingot 99.99% min purity to LME specification BS EN 12659:1999, GB/T 469/2005 or ASTM B29-03 (2009)Quantity: 25 tonnesLocation: CIF main Taiwanese ports (Taipei, Kaohsiung or Keelung), duty-unpaid premium on top of LME cash pricesTiming: Within 5 weeksUnit: USD/tonnePayment terms: Letter of credit, telegraphic transfer or cash against documents; other terms normalizedPublication: Monthly, first Tuesday of the month, 3-4pm London time
MB-SN-0038 Tin 99.9% ingot premium, cif Taiwan, $/tonneQuality: Ingot. 99.9% tin purity conforming to LME specification: BS EN 610:1996 with 100-300 ppm lead contentQuantity: Min 5 tonnesLocation: CIF delivery basis Taiwanese ports (Taipei, Kaohsiung or Keelung), premium on top of LME cash pricesTiming: Within 4 weeksUnit: USD/tonnePayment terms: Cash against document, telegraphic transfer; other terms normalizedPublication: Monthly, first Tuesday of the month, 3-4pm London time
MB-ZN-0116 Zinc SHG 99.995% ingot premium, cif Taiwan $/tonneQuality: Special high grade zinc ingot of minimum 99.995% purity, conforming to LME specifications and relevant standards: BS EN 1179:2003, ISO 752:2004 – ZN-1 grade, ASTM B6-12 – LME grade or GB/T 470- 2008Quantity: Min 25 tonnesLocation: CIF Taiwanese ports, premium on top of LME cash pricesTiming: Within 4 weeksUnit: USD/tonnePayment terms: Letter of credit, telegraphic transfer or documents against payment; other payment terms normalizedPublication: Monthly, first Tuesday of the month, 3-4pm London time
These prices are part of the Fastmarkets’ base metals package.
The consultation period for this proposed amendment starts from Tuesday May 13 and will end on Thursday June 12. The amendment will then take place, subject to market feedback, with the first assessment on a monthly frequency on Tuesday July 1.
To provide feedback on these prices or if you would like to provide price information by becoming a data submitter, please contact Chay Chye Leng by email at: pricing@fastmarkets.com. Please add the subject heading “FAO: Chay Chye Leng, re: Taiwan base metals.”
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.