Following an initial consultation with the market, Fastmarkets is proposing to:
- Update the quality of the all-in price to include both specifications from the London Metal Exchange and American Society for Testing and Materials, matching the current quality specifications listed under the copper cathode premium
- Update the location of both assessments to “ddp US Midwest”
- Change the unit of both assessments to “US cents per pound”
The new specifications would be as follows, with amendments in italics:
MB-CU-0002 Copper grade 1 cathode premium, ddp Midwest US, US cents/lb
Quality: Grade A 99.9935% min copper cathode conforming to LME specifications BS EN 1978:2022 – Cu-CATH-1 or Grade 1 Electrolytic Copper Cathode ATSM B1115-10
Quantity: Min 25 tonnes
Location: ddp US Midwest
Timing: Within 4 weeks
Unit: US cents per pound
Payment terms: 30 days, other payment terms normalized
Publication: Weekly. Tuesday 3-4pm London time
MB-CU-0309 Copper grade 1 cathode all-in price, ddp Midwest US, US cents/lb
Quality: Grade A 99.9935% min copper cathode conforming to LME specifications BS EN 1978:2022 – Cu-CATH-1 or Grade 1 Electrolytic Copper Cathode ATSM B1115-10
Quantity: Min 25 tonnes
Location: ddp US Midwest
Timing: Within 4 weeks
Unit: US cents per pound
Payment terms: 30 days, other payment terms normalized
Publication: Weekly. Tuesday 3-4pm London time
These prices are a part of the Fastmarkets base metals package.
The consultation period for this proposed amendment starts from June 13 and will end on July 14. The amendment will then take place, subject to market feedback, on July 15.
To provide feedback on the proposal, or if you would like to provide price information by becoming a data submitter to this price, please email pricing@fastmarkets.com. Please add the subject heading “FAO: Rae Boyadjis, re: US Copper 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/about-us/methodology.
