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During the one-month consultation, European market participants expressed concerns of the representativeness of premiums for small parcels and suggested an increase in the minimum tonnages of the assessments.
Therefore, Metal Bulletin has decided to increase the minimum tonnage for its European zinc premiums to 100 tonnes. Metal Bulletin publishes four weekly assessments for European zinc premiums: • Zinc SHG ingot FCA duty-paid Rotterdam • Zinc SHG ingot FCA duty-paid Antwerp • Zinc SHG ingot FCA duty-paid Italy • Zinc SHG ingot delivered duty-paid Italy
The minimum lot size in all of the above assessments is being raised to 100 tonnes from 25 tonnes. The minimum lot size of Metal Bulletin’s other special high grade (SHG) zinc ingots premium assessments for other regions will be unchanged at 25 tonnes.
The amended specifications are as below:
Description: Zinc SHG ingot FCA duty-paid Rotterdam Type: Assessed range Basis: Free-carrier basis delivery in Rotterdam, duty-paid premium on top of LME cash prices Grade: Special High Grade zinc of minimum 99.995% purity, conforming to LME specifications and relevant standards: BS EN 1179:2003, ISO 752:2004 – ZN-1 grade, ASTM B6-12 – LME grade or GB/T 470-2008 Currency: USD Unit: Tonne Min lot size: 100 tonnes Payment terms: Cash, other payment terms normalized Delivery Window: Within 4 weeks Form: Ingot Publication: Weekly. Tuesday between 3pm and 4pm, London time
Description: Zinc SHG ingot FCA duty-paid Antwerp Type: Assessed range Basis: Free-carrier basis delivery in Antwerp, duty-paid premium on top of LME cash prices Grade: Special High Grade zinc of minimum 99.995% purity, conforming to LME specifications and relevant standards: BS EN 1179:2003, ISO 752:2004 – ZN-1 grade, ASTM B6-12 – LME grade or GB/T 470-2008 Currency: USD Unit: tonne Min lot size: 100 tonnes Payment terms: Cash, other payment terms normalized Delivery Window: Within 4 weeks Form: Ingot Publication: Weekly. Tuesday between 3pm and 4pm, London time
Description: Zinc SHG ingot FCA duty-paid Italy Type: Assessed range Basis: Free-carrier basis delivery in Italy, duty-paid premium on top of LME cash prices Grade: Special High Grade zinc of minimum 99.995% purity, conforming to LME specifications and relevant standards: BS EN 1179:2003, ISO 752:2004 – ZN-1 grade, ASTM B6-12 – LME grade or GB/T 470-2008 Currency: USD Unit: Tonne Min lot size: 100 tonnes Payment terms: Cash, other payment terms normalized Delivery Window: Within 4 weeks Form: Ingot Publication: Weekly. Tuesday between 3pm and 4pm, London time
Description: Zinc SHG ingot delivered duty-paid Italy Type: Assessed range Basis: Delivered duty paid consumer works in Italy, premium on top of LME cash prices Grade: Special High Grade zinc of minimum 99.995% purity, conforming to LME specifications and relevant standards: BS EN 1179:2003, ISO 752:2004 – ZN-1 grade, ASTM B6-12 – LME grade or GB/T 470-2008 Currency: USD Unit: Tonne Min lot size: 100 tonnes Payment terms: Cash, other payment terms normalized Delivery Window: Within 4 weeks Form: Ingot Publication: Weekly. Tuesday between 3pm and 4pm, London time
The publication of this notice was delayed due to a technical error. The consultation period ended on Thursday September 6, with changes taking place on September 11. Since then all deals included in the above Metal Bulletin assessments have been of a lot size equivalent or bigger than 100 tonnes.
To provide feedback on this pricing notice or if you would like to provide price information by becoming a data submitter to this price, contact Archie Hunter/ Julian Luk by email at: pricing@metalbulletin.com. Please add the subject heading “FAO: Archie Hunter / Julian Luk, RE: Min lot size for European zinc premiums”.
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