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Fastmarkets is making this proposal in response to feedback from market participants about the increased availability and preferences in certain regions for 4.10 grade barite.
The proposed price specifications will be as follows:
Barite, drilling grade, unground lump, API, bulk, SG 4.10, FOB China, $ per tonneQuality: API grade, SG 4.10 unground lumpQuantity: 1,000 tonnes minimumLocation: FOB ChinaTiming: SpotUnit: $ per tonnePayment terms: within 30 daysPublication: Monthly, last Thursday of every month, 4pm London time.
Barite, drilling grade unground lump, API, bulk, SG 4.10, FOB Chennai, $ per tonneQuality: API grade, SG 4.10 unground lumpQuantity: 1,000 tonnes minimumLocation: FOB Chennai, IndiaTiming: SpotUnit: $ per tonnePayment terms: within 30 daysPublication: Monthly, last Thursday of every month, 4pm London time.
Barite, drilling grade unground lump, API, bulk, SG 4.10, FOB Morocco, $ per tonneQuality: API grade, SG 4.10 unground lumpQuantity: 1,000 tonnes minimumLocation: FOB MoroccoTiming: SpotUnit: $ per tonnePayment terms: within 30 daysPublication: Monthly, last Thursday of every month, 4pm London time.
The proposed changes will allow Fastmarkets to offer the market a robust pricing series that reflects changing market dynamics. The other barite prices published by Fastmarkets will be unaffected, and will remain in place.
The China and Chennai prices were delisted in October 2017 following market feedback at that time.
The consultation period for these proposed additions starts on Monday July 31 and will conclude on Monday August 28. The launch will take place, subject to market feedback, on Thursday August 31.
To provide feedback on these prices, or if you would like to provide price information by becoming a data submitter to these prices, please contact Alex Cook by email at: pricing@fastmarkets.com. Please add the subject heading “FAO: Alex Cook, re: barite.”
To see all Fastmarkets’ pricing methodology and specification documents, go to: https://www.fastmarkets.com/methodology.