This reflects changing market dynamics with a preference from market participants for more visibility on a price for Laos-origin material while noting liquidity decline on an FOB Southern Turkey basis.
The proposed price specifications will be as follows:
Barite, drilling grade, unground lump, API, bulk, SG 4.10 fob Vietnam, $ per tonneQuality: API grade, SG 4.10 unground lumpQuantity: 1,000 tonnes minimumLocation: fob VietnamTiming: SpotUnit: $ per tonnePayment terms: within 30 daysPublication: Monthly, last Thursday of every month, 4pm London time.
Barite, drilling grade, unground lump, API, bulk, SG 4.20 fob Vietnam, $ per tonneQuality: API grade, SG 4.20 unground lumpQuantity: 1,000 tonnes minimumLocation: fob VietnamTiming: SpotUnit: $ per tonnePayment terms: within 30 daysPublication: Monthly, last Thursday of every month, 4pm London time.
The specification for the proposed discontinuation of the existing price is as follows:
MB-BAR-0004 Barite, API, 1.5t big bags, ground, fob Southern Turkey, $/tonneQuality: API grade, 4.20 SG, ground, 1.5-tonne big bagsQuantity: Min 20 tonnesLocation: fob Southern TurkeyTiming: SpotUnit: $/tonnePayment terms: Within 30 daysPublication: Last Thursday of every month
All short-term forecasts associated with this price produced by the Fastmarkets research team, if any, will also be discontinued
These prices are a part of the Fastmarkets Industrial Minerals package.
The proposed changes will allow Fastmarkets to offer the market a robust pricing series that reflects changing market dynamics. The other barite prices published by Fastmarkets will be unaffected and will remain in place.
The consultation period for these proposed changes starts on Friday August 8 and will conclude on Friday September 12. The launch will take place, subject to market feedback, on Thursday September 25.
To provide feedback on these prices, or if you would like to provide price information by becoming a data submitter to these prices, please contact Alex Cook by email at: pricing@fastmarkets.com. Please add the subject heading “FAO: Alex Cook, re: Barite.”
To see all Fastmarkets’ pricing methodology and specification documents, go to: https://www.fastmarkets.com/methodology.
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