06 Mar 2023 | 10:32 UTC

Platts to publish 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, will publish daily mixed hydroxide precipitate 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. Market feedback is that MHP price assessments will bring transparency and improve understanding of physical trading dynamics.

Platts first proposed the new assessments Feb. 17 in a subscriber note available here:

https://www.spglobal.com/commodityinsights/en/our-methodology/subscriber-notes/021723-platts-proposes-to-launch-daily-mixed-hydroxide-precipitate-cif-north-asia-assessments

Platts will publish the following MHP assessments:

Assessments

Unit

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: $/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: $/mt

The new assessments will reflect the spot market value of MHP at 1630 Singapore time. The assessments will 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 assessment 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 will 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 assessment date

Payment Terms

Cash or Letter of Credit

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

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

Please send any questions or comments to battery_metals@spglobal.com and pricegroup@spglobal.com.

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.