03 Apr 2023 | 10:11 UTC

Platts launches daily mixed hydroxide precipitate (MHP) CIF North Asia assessments

Platts, part of S&P Global Commodity Insights, has launched daily mixed hydroxide precipitate (MHP) CIF North Asia assessments, effective April 3, 2023.

Platts has observed a 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 originally proposed the new assessments on 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 communicated its decision to introduce the proposed assessments on March 6:

https://www.spglobal.com/commodityinsights/en/our-methodology/subscriber-notes/030623-platts-to-publish-daily-mixed-hydroxide-precipitate-cif-north-asia-assessments

Platts publishes the following MHP assessments:

Assessments
Symbols
Unit
MHP CIF North Asia, payables basis to LME nickel monthly average
BATMD00
Assessment, unit: %
MHP CIF North Asia, All-in price as calculated from payables basis LME nickel
BATMC00
Calculation, unit: $/mt
MHP CIF North Asia, payables basis Platts nickel sulfate DDP China daily price assessment
BATMB00
Assessment, unit: %
MHP CIF North Asia, All-in price as calculated from payables basis Platts nickel sulfate DDP China price assessment
BATMA00
Calculation, unit: Yuan/mt
MHP CIF North Asia, All-in price as calculated from payables basis Platts nickel sulfate DDP China price assessment
BATME00
Calculation, unit: $/mt

The new assessments reflect the spot market value of MHP at 16:30 pm Singapore time. The assessments consider market 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.

A 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 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 the 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 back to the Platts' base standards.

The assessments are 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.