Platts changes nickel conversion factor in daily European nickel sulfate calculated price

Platts, part of S&P Global Commodity Insights, has changed the nickel conversion factor used in its daily European Nickel Sulfate calculated price to 0.223, from 0.220, effective April 2.

The all-in calculation represents the sum of Platts daily nickel sulfate differential over the prevailing exchange value for nickel metal and the LME official cash price, multiplied by the nickel conversion factor to convert nickel metal to nickel sulfate.

Platts initially proposed the specification change on Feb. 15, in a subscriber note available at:

https://www.spglobal.com/commodityinsights/en/our-methodology/subscriber-notes/021524-platts-proposes-to-change-nickel-conversion-factor-in-daily-european-nickel-sulfate-calculated-price

Following market feedback, Platts confirmed the changes to the specification in a subscriber note published on March 5:

https://www.spglobal.com/commodityinsights/en/our-methodology/subscriber-notes/030524-platts-to-change-nickel-conversion-factor-in-daily-european-nickel-sulfate-calculated-price

There is no change to the existing quality specification of minimum 22% nickel content.

The change applies to the following assessment:

The assessment is published on Platts Nonferrous Metals Alert pages, Platts Metals Daily, Platts Connect, Platts Market Center, and in the Platts price database under the symbols listed above.

The assessment is included on pages MTL8888 and PMA8888, and the monthly averages on pages PMA0663 and MTL0663, alongside Platts' full suite of battery metals assessments.

Please submit any comments or questions 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 make comments not marked as confidential available upon request.