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Metal Bulletin plans to reduce the frequency with which it publishes the ammonium paratungstate (APT) price quotation in Europe from Friday January 29.
The spot market is agreed to be extremely illiquid and the change is aimed at allowing Metal Bulletin to capture a larger number of data points, from as many market participants as possible.
From January 29, the frequency of publication would be reduced from twice a week, to once a month on the final Friday of the month. Publication time would still be between 14:00 and 15:00 London time.
Metal Bulletin also plans to remove the stipulation that material for delivery up to three months ahead be considered spot business.
Any of these amendments may be reverted or otherwise changed again according to the level of spot activity in the coming months.
Market participants have until January 25 to respond to this notice.
The chemical specification and delivery terms would be as follows:
Price: Tungsten APT Europe min 88.5 WO3 cif Rotterdam duty free $/mtu WO3 Basis: Cif Rotterdam, duty free Currency: USD Unit: per mtu WO3 Min lot size: 20 tonnes (+/- 2%) Payment terms: Cash; delivery up to three months in advance no longer considered spot business. Quality: WO3: 88.5% min; Al: 0.001% max; As: 0.0005% max; Bi: 0.0005% max; Ca: 0.001% max; Cd: 0.0005% max; Co: 0.0005% max; Cr: 0.0005% max; Cu: 0.0005% max; Fe: 0.001% max; K: 0.001% max; Mn: 0.001% max; Mg: 0.001% max; Mo: 0.002% max; Na: 0.001% max; Ni: 0.0005% max; P: 0.001% max; Pb: 0.0005% max; S: 0.001% max; Sb: 0.0005% max; Si: 0.001% max; Sn: 0.0005% max; Ti: 0.0005% max; V: 0.0005% max Form: White finely divided free flowing crystals Publication: Monthly. Between 2pm and 3pm London time on the final Friday of the month
Comments and questions on this should be sent to Claire Hack at chack@metalbulletin.com
Questions relating to Metal Bulletin’s pricing methodology and policy should be sent to Metal Bulletin market data and compliance manager Paolo Sorze at paolo.sorze@metalbulletin.com or Metal Bulletin editor Alex Harrison at aharrison@metalbulletin.com
Claire Hack chack@metalbulletin.com Twitter: @clairehack_mb