Subscriber note: Platts to discontinue base metals formula prices

Platts is proposing effective January 2, 2014, to discontinue a number of US formula prices for base metals because market feedback has indicated they are no longer relevant to current business. The published price indicators involve calculations on exchange prices, or calculations on producer list prices that fail to update very frequently, and in some cases are duplicative of other Platts assessments. Platts publishes a number of other original assessments in conjunction with exchange prices that are alternatives to these formula prices, including Platts regional premium assessments for all of the base metals, as well as scrap and other upstream price assessments. All of these are also available as weekly or monthly averages. The prices proposed for discontinuation are: Copper -- Daily MW Atlantic Seaboard; Daily MW CIF Europe, Daily MW Composite, Daily MW Producer Cathode, Daily MW Producer Refined and Weekly Producer Cathodes. Platts will continue to publish daily COMEX and London Metal Exchange copper futures prices and weekly US and European premiums to COMEX and LME prices. Lead -- Daily MW NA Producer and Daily Secondary Producer. Platts will continue to publish its daily North American Market price which reflects the LME lead cash price plus the Platts weekly premium for 99.97% lead, as well as Platts weekly used lead-acid battery assessment. Nickel -- Daily MW LME Mean. Tin -- Daily Composite and Daily MW NY low-lead. Platts will continue to publish its twice-weekly NY Dealer assessment which reflects LME cash plus the assessed premium. Zinc -- Daily MW Four Corners. Platts will continue to publish its weekly premiums for SHG zinc and alloy No. 3 as well as its daily and weekly SHG, galvanizer and No. 3 prices that reflect LME plus the premium. Platts is accepting feedback on the proposed discontinuations through July 31; please address feedback to Karen McBeth, +1-202-383-2110 or karen.mcbeth@platts.com.