Molybdenum oxide transaction price consultation period extended

Following a period of consultation with the industry on a proposed upgrade to Platts' methodology for the Platts molybdenum oxide transaction assessment, Platts has decided to extend the period of consultation until April 22, 2011, in order to obtain more feedback.

Platts will publish a definitive notice about its intentions regarding the changes to the Platts molybdenum oxide transaction assessment price by April 28, 2011, and if any changes are to be made, they will become effective from June 1, 2011.

The principal changes being considered to the existing methodology are an increase in the frequency of the price to daily from weekly, and the addition of import trade to China in the assessment.

As a result of the feedback received so far, Platts can advise that any move to a daily molybdenum oxide transaction assessment would take into account all transactions, bids and offers reported to Platts in the 24-hour period up to 1630 London time each day, and that the transaction price will continue to be assessed as a range, reflecting daily global business, and not as a single price.

Please note that no change is planned at this time to the methodology or frequency of the molybdenum oxide dealer assessment.

All other details on the proposed upgrade to the Platts molybdenum oxide transaction assessment can be found in the subscriber note published on page 13 of Platts Metals Week, April 4, 2011, edition and on page 1505 of Platts Metals Alert, as well as on www.platts.com. Please submit feedback, comments or questions to: Andy Blamey, andy_blamey@platts.com; Anthony Poole, anthony_poole@platts.com; Mayumi Watanabe, mayumi_watanabe@platts.com; or Jitendra Gill, jitendra_gill@platts.com, with a cc to Francis Browne, francis_browne@platts.com and pricegroup@platts.com by April 22, 2011.