Fastmarkets is inviting feedback from the industry on the pricing methodology for its cobalt hydroxide index as part of its annual methodology review process and compliance with the International Organization of Securities Commissions (Iosco) principles for price reporting agencies.
This consultation, which begins on Wednesday June 16 and will end on July 13, seeks to ensure that
our methodologies continue to reflect the physical market under our
cobalt hydroxide index 30% Co min, cif China, $/Ib assessment. This includes all elements of our pricing process, our price specifications and publication frequency.
Below is the specifications of cobalt hydroxide index:
MB-CO-0020: Cobalt hydroxide index 30% Co min, cif China, $/IbQuality: Units produced from large-scale mining activity, with the following chemical composition: Co 30% min, Mn 6.5% max, Mg 6.5% max, S 5% max; Cd 100ppm max; limited concentration of natural radioactivity: GB20664-2006 (suitable for customs clearance into China).
Quantity: Min 50 tonnes (cobalt content)
Location: cif China (other terms normalized)
Timing: 45 days
Unit: $/lb
Payment terms: Letter of credit at sight, current price month ('M')
Publication time: Between 2pm and 3pm London time, Friday, weekly
Note: Where the pricing day falls on a public holiday in England and Wales, the index will be published on the closest working day preceding that date.
To provide feedback on the cobalt hydroxide index, min 30% Co, cif China, or if you would like to provide price information by becoming a data submitter to Fastmarkets' cobalt price assessments, please contact Susan Zou by email at:
pricing@fastmarkets.com. Please add the subject heading 'FAO: Susan Zou, re: cobalt hydroxide index.'
Please specify whether your response is confidential. Opinions offered in confidential responses can be referenced but will not be attributed in any way.
Fastmarkets will publish the outcome of this methodology review by July 28, including all feedback unless noted as confidential. Any proposals to make material changes, discontinue or launch prices will involve a separate market consultation, the length of which will depend on how substantial the change is for the industry.
To see all Fastmarkets' pricing methodology and specification documents go to
https://www.fastmarkets.com/about-us/methodology.