Platts proposes to launch daily mixed hydroxide precipitate CIF North Asia assessments

In response to market demand and growing need for greater price transparency, Platts, part of S&P Global Commodity Insights, is proposing to launch daily mixed hydroxide precipitate (MHP) CIF North Asia assessments, effective April 3, 2023.

Platts has observed growing interest in MHP spot pricing as nickel intermediates become increasingly mainstream in battery grade nickel sulfate production.

Preliminary market feedback is that MHP price assessments would bring transparency and improve understanding of physical trading dynamics.

Platts is proposing to publish the following MHP assessments:

MHP CIF North Asia, payables basis to LME nickel monthly average (Assessment, unit: %)

MHP CIF North Asia, All-in price as calculated from payables basis LME nickel (Calculation, unit: USD/mt)

MHP CIF North Asia, payables basis Platts nickel sulfate DDP China daily price assessment (Assessment, unit: %)

MHP CIF North Asia, All-in price as calculated from payables basis Platts nickel sulfate DDP China price assessment (Calculation, unit: Yuan/mt)

MHP CIF North Asia, All-in price as calculated from payables basis Platts nickel sulfate DDP China price assessment (Calculation, unit: USD/mt)

The new assessments would reflect the spot market value of MHP at 1630 Singapore time. The assessments would consider trade information reported to Platts and published throughout the day, including but not limited to firm bids and offers, transactions and indications, as well as any other data deemed relevant to the assessment process.

Full description of the Platts assessments methodology and data hierarchy can be found here: https://www.spglobal.com/commodityinsights/plattscontent/_assets/_files/en/our-methodology/methodology-specifications/platts-assessments-methodology-guide.pdf

The assessments would share the following specifications and terms:

Quality: 35-40% nickel content and 2-5% cobalt content

Incoterm: Cost, Insurance, Freight (CIF) North Asia (China, Japan, South Korea)

Unit: Metric ton

Volume: Minimum 100 mt

Timing: arriving at disports within 15-60 days forward from the assessment date

Payment Terms: Cash or Letter of Credit

All origins of MHP meeting these specifications would be considered in the assessment, and other grades may be normalized to Platts base standards.

The assessments would be published on Platts Nonferrous Metals Alert, Platts Metals Daily, Platts Dimensions Pro, Platts Market Center, and in the Platts price database.

Platts invites feedback on this proposal to battery_metals@spglobal.com and pricegroup@spglobal.com by March 3, 2023.

For written comments, please provide a clear indication if comments are not intended for publication by Platts for public viewing. Platts will consider all comments received and will make comments not marked as confidential available upon request.