SUBSCRIBER NOTE: Platts updates price specifications for some Asian ferroalloys

Platts is updating and clarifying the specifications for some of its Asian bulk and noble alloys price assessments, and aligning the naming conventions for the price assessments across Platts Metals Daily, Platts Steel Markets Daily, Platts Metals Week, Platts Metals Alert and Platts Market Data, effective January 2. The updated specifications reflect what has prevailed in the market and will not result in changes to the data history or the consistency of the data going forward. The names, specifications and symbols are as listed below:

Ferrosilicon 75% FOB China (MMAKB00) -- Weekly assessment of the repeatable, tradable, spot price for Chinese-origin ferrosilicon with 73-79% silicon, normalized to 75% Si; maximum 1.5% aluminum, maximum 0.02% sulfur, maximum 0.04% phosphorous, maximum 0.2% carbon; lumps 10-50 mm; FOB main Chinese sea ports, packed in 1mt big bags loaded on oceangoing vessel or packed in seagoing 20-foot (18-24-mt) containers and customs sealed, export tariff-paid, within 30 days of date of transaction. Assessment is made in dollars per metric ton reflecting the narrow range where the majority of business is occurring. Payment by telegraphic transfer, cash against documents, irrevocable letter of credit drawn against approved bank at site or equivalent. Assessment quantities are 18 mt and greater. Assessment made Thursdays or closest business day from a survey of producers, traders and consumers. Ferromolybdenum 60% FOB China (MMAFP00) -- Weekly assessment of the repeatable, tradable spot price ferromolybdenum exported from Chinese ports for 60-65% molybdenum contained, normalized to 60% molybdenum, maximum 0.1% carbon, maximum 1.5% silicon, maximum 0.06% phosphorous, maximum 0.1% sulfur, and maximum 0.5% copper; packed in drums (100kg/250 kg) or bags (1 mt/bag), normalized to 1mt bags; FOB Chinese ports; payment cash against documents or LC at site. Deliveries to customers within one month after the date of purchase agreement. Standard volume will be a container, or 20 mt. Assessed in dollars per kilogram, in a narrow price range reflecting the majority of business. Assessment made weekly on Thursdays or closest business day from a survey of producers, traders and consumers.

Ferromolybdenum 60% CIF Japan (MMAFM00) -- Weekly assessment of the repeatable, tradable spot price ferromolybdenum imported into Japan, with 60-65% molybdenum and normalized to 60% molybdenum, maximum 0.1% carbon, maximum 2.0% silicon, maximum 0.06% phosphorous, maximum 0.1% sulfur, and maximum 0.5% copper; packed in 1mt big bags, 25-kg paper boxes, steel drums or other packaging, normalized to 1 mt big bags; CIF main port Japan; payment cash against documents or LC at site, loading less than 60 days after the date of transaction. Minimum volume 18 mt per transaction. Assessed in dollars per kilogram in a narrow price range that reflects the majority of business. Assessment made Thursdays or closest business day from survey of producers, traders and end-users in steel and other metal sectors. For questions or comments, please contact Mayumi Watanabe at Mayumi.watanabe@platts.com, with a copy to Karen McBeth, Karen.mcbeth@platts.com