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The proposal is driven by the insufficient price inputs under the current market conditions and by market feedback about a lack of liquidity on an outright basis for the NPI contract price.
Specifically, Fastmarkets is proposing to discontinue:
MB-FEN-0001 Nickel pig iron, high-grade NPI content 10-15%, contract, ddp China, yuan/nickel unit price Quality: Lump. Ni10-15%, Fe 80%, P 0.04% max, S 0.03% max, Si 4.5% max, C 4% maxQuantity: Min 1,000 tonnesLocation: Delivered duty paid China Unit: Yuan/nickel unitPayment terms: CashPublication: Weekly. Friday 2-3pm London time
The price is a part of the Fastmarkets Steel Raw Materials package.
The consultation period for this price discontinuation starts from Wednesday October 22 and will end on Tuesday November 18, with changes taking place, subject to market feedback, from Friday November 21.
All short-term forecasts associated with this price produced by the Fastmarkets research team, if any, will also be discontinued.
To provide feedback on the proposal to discontinue this price or if you would like to provide price information by becoming a data submitter, please contact pricing@fastmarkets.com and steelrawmaterials@fastmarkets.com. Please add the subject heading “re: NPI contract 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, go to https://www.fastmarkets.com/methodology.