Amendment to nickel low-carbon briquette premium

Fastmarkets invited feedback on further amendments to the recently launched low-carbon nickel briquette premium following suggestions for the inclusion of additional shapes of nickel metal as well as additional metrics for measuring sustainability.

The additional measures were intended to strengthen the metrics for low carbon, as well as increasing the pool of liquidity available.

Following feedback received in the consultation period, Fastmarkets has decided to proceed with the additional sustainability metrics but will not be including additional shapes of nickel metal in assessments.

The amended specification for the premium will be as follows:

MB-NI-0256 – Nickel low-carbon briquette premium, cif global, $ per tonne
(Amendments in italics.)
Quality: Briquette, 99.80% min primary nickel: ASTM B39-79 (2013) or GB/T 6516-2010 – Ni9990 grade.
Carbon limit: 18tCO2e per tonne of nickel briquette produced, Scope 1 and 2 emissions, measured following ISO14040 standards or via an independent third-party lifecycle assessment (LCA).
Additional ESG factors: All assets and third-party feeds should be in compliance with ICMM’s Mining Principles and Towards Sustainable Mining, as well as the Initiative for Responsible Mining Assurance (IRMA).
Quantity: Min 20 tonnes
Location: CIF global premium, premium on top of exchange or trade platform listed nickel price
Timing: Up to 12 months
Unit: USD per tonne
Publication: Monthly, first working day of the month, 4pm London time
Notes: Price will follow the UK pricing calendar and will be assessed from London. Sanctioned material will not be considered for the price assessment.

The premium is part of the Fastmarkets base metals package.

The next publication of the above premium will be on Monday June 3.

To provide feedback on this premium, or if you would like to provide price information by becoming a data submitter to this premium, please contact Callum Perry by email at: pricing@fastmarkets.com. Please add the subject heading “FAO: Callum Perry, re: low-carbon nickel briquette premium.”

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