Fastmarkets selects the frequency of publication of a market assessment after considering the number of data points (deals, bids, offers, deals heard and assessments) that it can reasonably expect to collect on a consistent basis over the selected period to support the price assessment process.
This proposal follows preliminary discussions with the market as well as internal meetings to review relevant Fastmarkets’ data, which suggest that there has been lower spot liquidity and price volatility recently.
The proposed new specifications are listed below, with the proposed amendment of price frequency in italics:
MB-MG-0005 Magnesium, 99.9% min, ex-whs Baltimore, 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 Baltimore
Timing: Within 30 days
Units: US cents per lb
Publication: Monthly, first Thursday of the month
This price is part of the Fastmarkets’ Minor Metals package.
The 30-day consultation period for this proposed amendment starts on Tuesday February 18 and will end on Thursday March 20. The amendment will then take place, subject to market feedback, with the first assessment on a monthly frequency on Thursday April 3.
To provide feedback on this price, or if you would like to provide price information by becoming a data submitter to this price, please contact Letícia Simionato by email at: pricing@fastmarkets.com. Please add the subject heading “FAO: Letícia Simionato, re: US magnesium price.”
Please indicate if comments are confidential. Fastmarkets will consider all comments received and will make comments not marked as confidential available upon request.
To see all Fastmarkets’ pricing methodology and specification documents, go to https://www.fastmarkets.com/methodology.
