Proposal to launch US magnesium assessment extended
Following an initial 30-day consultation period, Fastmarkets has elected to extend its market consultation regarding its proposal to launch a US magnesium metal price assessment to allow for further feedback and clarification from the industry.
Fastmarkets has proposed to launch a bi-weekly magnesium metal assessment, ex-warehouse US, to provide insight and transparency to the various participants in the magnesium market.
The current price specifications for the bi-weekly assessment are as follows:
Magnesium 99.9% min, ex-warehouse US, cents per lb
Quality: Ingots and sticks. Mg 99.9% min, Fe 0.04% max, Si 0.02% max, Ni 0.002% max, Cu 0.01% max, AL 0.02% max, Mo 0.03% max, Cl 0.05% max, others 0.1% max, conforming to ASTM specifications B92/92M-11 and 9990A
Quantity: 20 tonnes
Location: Ex-warehouse, US
Timing: Within 30 days
Units: US cents per lb
Publication: Bi-weekly, Thursdays
The extended consultation period for this proposed price will end 30 days from the date of this pricing notice on April 14, with an update to this proposal published on that day. Subject to market feedback, the proposed changes would take place beginning with the bi-weekly assessment on April 20.
To provide feedback on this proposal or if you would like to provide price information by becoming a data submitter to this assessment, please contact Chris Kavanagh by email at: email@example.com. Please add the subject heading “FAO: Chris Kavanagh re: US magnesium price assessment.”
To see all Fastmarkets’ pricing methodology and specification documents go to https://www.fastmarkets.com/about-us/methodology.