Platts to change weekly Ferromolybdenum assessment to CIF Asia

S&P Global Platts has pushed back the effective date to change its Ferromolybdenum CIF Japan weekly assessment to CIF Asia to July 23, 2020, from June 25, 2020.

The change to CIF Asia reflects a shift in market dynamics in the region, and enables Platts to include deliveries in a wider Asian region.

Platts received market feedback that CIF Asia is a better representative of ferromolybdenum prices in Asia, compared with CIF Japan. The main fixed price ferromolybdenum buyers in Asia are from India, Taiwan and mainland China.

Platts originally proposed the change in a subscriber note which can be found here: http://plts.co/Wzu430qLOca

Platts determines to assess 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 on 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 June 25, 2020.

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.