PRICING NOTICE: Proposal to amend specification of spodumene cif China price and discontinue two spodumene prices

Fastmarkets proposes to amend the specification of its spodumene 5-6% cif China price and discontinue its 5-6% fob Australia and 7-7.5% cif China prices.

Fastmarkets proposes to amend the specifications of its spodumene cif China price assessment to better reflect emerging norms in the spodumene market that serve the lithium battery-grade chemicals industry.
The price affected is:
MB-LI-0012 Spodumene 5-6% Li20 min, cif China, $/tonne
The amendments proposed are:
Quality: A powder with physical sizing max. 15% > 1mm accepted by buyers for conversion in lithium chemicals used in battery applications and with the following chemical composition: Li2O 6% ( min 5.7 Li2O and max 6.1% Li2O accepted if it can be normalized to 6%); Fe2O3 < 1.3%, H2O <10%
Delivery window: 90 days
All other specifications for the price listed above will remain unchanged and are detailed in full here.
Fastmarkets also proposes to discontinue the following spodumene price assessment following an informal consultation with market participants that revealed it is not reflective of current prevailing industry practices, where most of the trade takes place on a cif China basis:
MB-LI-0017 Spodumene 5-6% Li20 min, fob Australia, $/tonne
Finally, Fastmarkets proposes to discontinue the following spodumene price due to limited demand-supply dynamics of the market in question and to focus on its core markets.
MB-LI-0011 Spodumene 7-7.5% Li2O min, cif China, $/tonne
The consultation period for the three proposals will end one month from the date of this pricing notice, on September 18, 2020, with changes taking place, subject to market feedback, from September 21, 2020.
To provide feedback on these proposals or if you would like to provide price information by becoming a data submitter to these prices, please contact the price reporters Dalila Ouerghi or Carrie Shi by email at pricing@fastmarkets.com.
Please add the subject heading “FAO: Dalila Ouerghi/Carrie Shi, re: amendments to Spodumene price assessments specifications.”
To see all Fastmarkets’methodology and specification documents go to https://www.fastmarkets.com/about-us/methodology.

Dalila Ouerghi

dalila.ouerghi@fastmarkets.com

Published

Dalila Ouerghi

August 20, 2020

09:48 GMT

London