The spot market is agreed to be extremely illiquid and the change is aimed at allowing Metal Bulletin to capture a larger number of data points, from as many market participants as possible.
From January 29, the frequency of publication would be reduced from twice a week, to once a month on the final Friday of the month. Publication time would still be between 14:00 and 15:00 London time.
Metal Bulletin also plans to remove the stipulation that material for delivery up to three months ahead be considered spot business.
Any of these amendments may be reverted or otherwise changed again according to the level of spot activity in the coming months.
Market participants have until January 25 to respond to this notice.
The chemical specification and delivery terms would be as follows:
Price: Tungsten APT Europe min 88.5 WO3 cif Rotterdam duty free $/mtu WO3
Cif Rotterdam, duty free
per mtu WO3
Min lot size:
20 tonnes (+/- 2%)
Cash; delivery up to three months in advance no longer considered spot business.
WO3: 88.5% min; Al: 0.001% max; As: 0.0005% max; Bi: 0.0005% max; Ca: 0.001% max; Cd: 0.0005% max; Co: 0.0005% max; Cr: 0.0005% max; Cu: 0.0005% max; Fe: 0.001% max; K: 0.001% max; Mn: 0.001% max; Mg: 0.001% max; Mo: 0.002% max; Na: 0.001% max; Ni: 0.0005% max; P: 0.001% max; Pb: 0.0005% max; S: 0.001% max; Sb: 0.0005% max; Si: 0.001% max; Sn: 0.0005% max; Ti: 0.0005% max; V: 0.0005% max
White finely divided free flowing crystals
Monthly. Between 2pm and 3pm London time on the final Friday of the month
Comments and questions on this should be sent to Claire Hack at email@example.com
Questions relating to Metal Bulletin’s pricing methodology and policy should be sent to Metal Bulletin market data and compliance manager Paolo Sorze at firstname.lastname@example.org
or Metal Bulletin editor Alex Harrison at email@example.com