After a consultation period, Fastmarkets has amended the frequency of this price, following positive feedback from market participants and internal data analysis, which suggested lower spot liquidity and price volatility recently.
Fastmarkets selects a publication frequency 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.
The main pricing day will continue to be Thursday, but the magnesium price will be assessed once per month starting on Thursday April 3. The new specifications are listed below, with the amendment to the 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 a part of the Fastmarkets Minor Metals package.
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 Rae Boyadjis by email at: pricing@fastmarkets.com. Please add the subject heading “FAO: Rae Boyadjis, re: US magnesium.”
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.
