Benchmark prices definition
Benchmark prices. Nickel Sulfate: LME daily Nickel settlement Cobalt Sulfate: Fast Markets Standard Grade Cobalt low quotation Li Carbonate Battery Grade: Lithium carbonate 99.5% Li2CO3 min, battery grade, spot price DDP Europe and US, $/kg, low quotation Li Carbonate Technical Grade: Lithium carbonate 99% Li2CO3 min, technical and industrial grades, spot price DDP Europe and US, $/kg, low quotation
(a) If the material has been sold forward: If the final price for a shipment for sale to a customer is known at the time of delivery to the Buyer, the provisional price will be 75% of the known final price.
Benchmark prices. Nickel Sulfate: LME daily Nickel settlement Cobalt Sulfate: Fast Markets Standard Grade Cobalt low quotation Li Carbonate Battery Grade: Lithium carbonate 99.5% Li2CO3 min, battery grade, spot price DDP Europe and US, $/kg, low quotation Li Carbonate Technical Grade: Lithium carbonate 99% Li2CO3 min, technical and industrial grades, spot price DDP Europe and US, $/kg, low quotation TRAXYS
(a) If the material has been sold forward: If the final price for a shipment for sale to a customer is known at the time of delivery to the Buyer, the provisional price will be 75% of the known final price. If the final price is unknown, the provisional price will be based upon the expected provisional sales value to the third party using the benchmark prices and all relevant formulas in the contract with the third party, multiplied by 75%.
(b) If the material is unsold: The provisional price will be mutually agreed.
Benchmark prices the lower of (a) LME Official Cash Buyer Nickel Price and (b) LME Official 3-Month Buyer Nickel Price, in each case as expressed in US$ per MT, published in the “Metal Bulletin” within the table “London Metal Exchange High, Low, and Average Cobalt: FM Standard Grade, in-whs Rotterdam, Low Quotation Price (expressed in US$ per MT) published by FM
More Definitions of Benchmark prices
Benchmark prices. The Exchange Center typically establishes a benchmark price for each commodity, around which market prices fluctuate. Benchmark prices are determined by factors such as spot market trends and futures market delivery dates.