After a one-month consultation period, Fastmarkets has amended the timing specifications for its assessment of Italian SHG (special high grade) zinc premiums.
The frequency of the assessments, which are currently weekly, will move to a fortnightly basis after the next assessment date on June 15.
The change is due to the Italian zinc market being largely centered around long-term contracts. Fastmarkets feels that a better assessment of the spot market can be made if taking trade data provided over a fortnightly time frame into account rather than on a weekly basis. Italy is also a production center for SHG zinc, which increases the number of long-term Italian contracts for zinc.
Following the amendment, the full specifications will be as follows:
MB-ZN-0103 Zinc SHG min 99.995% ingot premium, fca dp Italy, $/tonne
Quality: Special High Grade zinc ingot 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
Quantity: Min 100 tonnes
Location: Free-carrier basis delivery in Italy, duty-paid premium on top of LME cash prices
Timing: Within 4 weeks
Unit: USD/tonne
Payment terms: Cash, other payment terms normalized
Publication:
Fortnightly. Tuesday 3-4pm London time
MB-ZN-0102 Zinc SHG min 99.995% ingot premium, ddp Italy, $/per tonne
Quality: Special High Grade zinc ingot 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
Quantity: Min 100 tonnes
Location: Delivered duty paid consumer works in Italy, premium on top of LME cash prices
Timing: Within 4 weeks
Unit: USD/tonne
Payment terms: Cash, other terms normalized
Publication: Fortnightly. Tuesday 3-4pm London time
The amendment will take effect from Tuesday June 15.
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 Ana de Liz by email at: pricing@fastmarkets.com. Please add the subject heading FAO: Ana de Liz, re: Zinc SHG Italy fca dp/ddp premiums.
To see all Fastmarkets' pricing methodology and specification documents go to: www.fastmarkets.com/about-us/methodology