Fastmarkets, which currently assesses the premium on Tuesday on a fortnightly basis, proposes to publish the Shanghai EQ copper cathode premium every Tuesday.
The consultation period for this proposed amendment starts on Wednesday May 31 and concludes on Tuesday June 27.
Fastmarkets is making this proposal in response to feedback from market participants amid increased spot activity and expectations of more spot availability in the Shanghai EQ market, to better reflect market dynamics.
The proposed increase in frequency will take place from July 4, subject to the outcome of this consultation.
The specifications for the premium, incorporating the proposed changes in frequency, are as follows:
MB-CU-0412 Copper EQ cathode premium, cif Shanghai, $/tonne
Quality: 99.9935% min copper conforming to LME specifications; Ag: 0.0025% max, As: 0.0005% max, Bi: 0.00020% max,Fe: 0.0010% max, Pb: 0.0005% max, S:0.0015% max, Se: 0.00020% max, Te:0.00020% max
Quantity: Min 25 tonnes
Location: cif Shanghai
Timing: Within 6 weeks
Unit: USD per tonne
Payment terms: LC, TT or DP other payments normalized to cash
Publication: Weekly. Tuesday 4pm London time
To provide feedback on this consultation, or if you would like to provide price information by becoming a data submitter to the Shanghai EQ copper cathode premium, please contact Sally Zhang by email at pricing@fastmarkets.com. Please add the subject heading ‘FAO: Sally Zhang, re: Shanghai EQ premium.’
To see all of Fastmarkets’ pricing methodology and specification documents, go to https://www.fastmarkets.com/methodology.
