The initial consultation, which started on February 26, received mixed views on the trading quantities of the material as nickel matte output has been on a downtrend in the recent month, leading to slower spot liquidity.
To properly to price a material with slowing liquidity, Fastmarkets has decided to extend the consultation period of the proposal to launch the high-grade nickel matte cif China payable indicator assessment until April 9.
During the extended consultation period, Fastmarkets invites further market feedback on the minimum trading quantity of nickel matte to capture greater liquidity for the assessment of the payable.
The proposed specification for the price is as follows:
High-grade nickel matte payable indicator, 65-75% nickel contained, cif China, % London Metal Exchange
Quality: nickel matte, Ni 65-75%, Fe 6% max
Quantity: min 100 tonnes
Location: cif main ports China
Unit: % payable basis London Metal Exchange
Publication: Last Friday of each month, 7pm China time
This price will be part of the Fastmarkets base metals package.
The extended consultation period for this proposed launch starts from Wednesday March 26 and will end on April 9. The launch will then take place, subject to market feedback, on April 25.
To provide on this proposal or if you would like to provide price information by becoming a data submitter to this price, please contact Dylan Duan by email at: pricing@fastmarkets.com. Please add the subject heading “FAO: Dylan Duan, nickel matte, cif China.”
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.
