Platts proposes to change weekly ferromolybdenum CIF Japan assessment to CIF Asia

S&P Global Platts proposes to change its weekly ferromolybdenum CIF Japan assessment to CIF Asia, effective June 25, to reflect a shift in market dynamics in the region.

The proposed change would enable Platts to reflect deliveries in a wider Asian region.

Japan continues to be one of the four largest ferromolybdenum importers in the region, however its supplies have been increasingly more often secured domestically or under long-term agreements.

Platts believes the expansion of the delivery area would provide additional spot volume to the ferromolybdenum assessment, ensuring its continued relevance and robustness.

Platts observes that fixed price ferromolybdenum spot trades are increasingly more often concluded outside Japan.

Platts estimates that around three-quarters of the total material traded in the Asian spot market is now delivered into China, India and Taiwan, and the majority of spot supply contracts are offered on general CIF Asia basis.

Platts proposes to determine the assessment's basis par ports as Osaka, Tianjin and Kaohsiung.

Deliveries into Indian ports Nhava Sheva and Mumbai as well as other key ports in the wider Asian region may be reflected in the assessment after normalization.

The CIF Japan ferromolybdenum assessment is published Thursday in Metals Daily, and Platts Metals Alert on fixed page PMA386 and in the Platts price database under the code MMAFM00.

Market participants are welcome to provide suggestions on this proposal and on any other aspects of the Platts methodology for ferromolybdenum price in Asia.

Please send all comments, feedback and questions to PL_Asia_Nonferrous@spglobal.com and pricegroup@spglobal.com by May 27.

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.