Platts launches daily nickel sulfate premium CIF Northeast Asia

Following market feedback, Platts, part of S&P Global Commodity Insights, has launched a daily nickel sulfate premium CIF Northeast Asia assessment, effective Aug. 1.

The new assessments complement Platts' existing battery-related nickel assessments, which include DDP China nickel sulfate, CIF North Asia mixed hydroxide precipitate (MHP) and nickel sulfate premiums for Europe and the US.

This is in response to growing interest from market participants in nickel sulfate premiums for Northeast Asia, given the focus on mid-nickel and high-nickel content nickel cobalt manganese (NCM) battery chemistries in the South Korean and Japanese markets.

The new additions reflect a daily premium assessment over the prevailing exchange settlement. The calculated price will adopt the following formula: nickel sulfate premium CIF Northeast Asia plus London Metals Exchange (LME) official nickel cash price, multiplied by nickel content of 22.3%.

The new assessments have the following specifications:

Platts originally proposed the launch of these new nickel sulfate premium assessments in a July 15 subscriber note: https://www.spglobal.com/commodityinsights/en/our-methodology/subscriber-notes/071524-platts-proposes-to-launch-daily-nickel-sulfate-premium-cif-northeast-asia.

Following market consultation, Platts communicated its decision to launch the assessments on July 26 and the relevant note can be found at: https://www.spglobal.com/commodityinsights/en/our-methodology/subscriber-notes/072624-platts-to-launch-daily-nickel-sulfate-premium-cif-northeast-asia.

Platts spot price assessments consider market information reported to Platts and published throughout the day, including firm bids and offers, transactions and indications, as well as any other data deemed relevant to the assessment process.

Market information received before the 4:30 pm Singapore (0830 GMT) timestamp will be considered for the daily CIF Northeast Asia nickel sulfate premium assessments.

A full description of Platts assessments methodology can be found here: /content/dam/spglobal/ci/en/documents/platts/en/our-methodology/methodology-specifications/Platts-Assessments-Methodology-Guide.pdf.

Please send all comments, feedback and questions to battery_metals@spglobal.com and pricegroup@spglobal.com.

The assessments will be published on pages MTL8888 and PMA8888 of Platts Nonferrous Metals Alert, Platts Metals Daily and in the Platts price database.

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.