Proposal to launch two monthly barite FOB Vietnam assessments, discontinue FOB Southern Turkey assessment

This reflects changing market dynamics with a preference from market participants for more visibility on a price for Laos-origin material while noting liquidity decline on an FOB Southern Turkey basis.

The proposed price specifications will be as follows:

Barite, drilling grade, unground lump, API, bulk, SG 4.10 fob Vietnam, $ per tonne
Quality: API grade, SG 4.10 unground lump
Quantity: 1,000 tonnes minimum
Location: fob Vietnam
Timing: Spot
Unit: $ per tonne
Payment terms: within 30 days
Publication: Monthly, last Thursday of every month, 4pm London time.

Barite, drilling grade, unground lump, API, bulk, SG 4.20 fob Vietnam, $ per tonne
Quality: API grade, SG 4.20 unground lump
Quantity: 1,000 tonnes minimum
Location: fob Vietnam
Timing: Spot
Unit: $ per tonne
Payment terms: within 30 days
Publication: Monthly, last Thursday of every month, 4pm London time.

The specification for the proposed discontinuation of the existing price is as follows:

MB-BAR-0004 Barite, API, 1.5t big bags, ground, fob Southern Turkey, $/tonne
Quality: API grade, 4.20 SG, ground, 1.5-tonne big bags
Quantity: Min 20 tonnes
Location: fob Southern Turkey
Timing: Spot
Unit: $/tonne
Payment terms: Within 30 days
Publication: Last Thursday of every month

All short-term forecasts associated with this price produced by the Fastmarkets research team, if any, will also be discontinued

These prices are a part of the Fastmarkets Industrial Minerals package.

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 consultation period for these proposed changes starts on Friday August 8 and will conclude on Friday September 12. The launch will take place, subject to market feedback, on Thursday September 25.

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 the Fastmarkets methodology page.