PRICING NOTICE: Clarification of Fastmarkets’ UG2 index MgO specification

Fastmarkets has identified a necessary clarification to the magnesium oxide specification for its UG2 chrome ore index.

Fastmarkets has updated the magnesium oxide (MgO) specifications of its weekly price index for UG2 chrome ore to match the quality listed in the index’s pricing notice.
The MgO previously, and erroneously, was listed in the specifications at MgO max 0.15% although the correct quality in the pricing notice was max 15%.
Fastmarkets confirms that the specifications read as follows, following the clarification:
MB-CHO-0003 Chrome ore South Africa UG2 concentrates index, basis 42%, cif China, $ per tonne
Quality: Up to 1mm (95% min); Cr base 42%, range 40-43%; Silica max 6%; Alumina max 18%; MgO max 15%; P max 0.01%; S max 0.01%; chrome-iron ratio 1.2:1 min
Quantity: Min 2,000 tonnes
Location: cif China
Unit: USD per tonne
Payment terms: Payment at sight
Publication: Weekly; Tuesday, 3pm London time
Notes: Bulk (container deals normalized)
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 Jon Stibbs by email at: pricing@fastmarkets.com. Please add the subject heading “FAO: Jon Stibbs, re: UG2 specifications.”
To see all Fastmarkets’ pricing methodology and specification documents, go to: https://www.fastmarkets.com/%20about-us/methodology.

Jon Stibbs

jon.stibbs@fastmarkets.com

Published

Jon Stibbs

November 18, 2020

19:25 GMT

London