The affected prices are in the Fastmarkets Ags, Ags Grains, Industrial Ags, Oils, Fats, Animal Proteins and Biofuels pricing packages.

For more information, or to provide feedback on the publication of these assessments, or if you would like to provide price information by becoming a data submitter to these assessments, please contact Chloe Krimmel by email at: pricing@fastmarkets.com. Please add the subject heading “FAO: Chloe Krimmel, re: US agricultural products price assessments.”

Please indicate if comments are confidential. Fastmarkets will consider all comments received and will make comments not marked as confidential available upon request.

To see all Fastmarkets’ pricing methodology and specification documents, go to: https://www.fastmarkets.com/methodology.

The post Pause in publication of US agricultural products price assessments appeared first on Fastmarkets.

MB-CU-0403 Copper grade A cathode premium, cif Shanghai, $/tonne
MB-CU-0380 Copper grade A cathode ER premium, cif Shanghai, $/tonne
MB-CU-0384 Copper grade A cathode SX-EW premium, cif Shanghai, $/tonne
MB-CU-0405 Copper grade A cathode premium, in-whs Shanghai, $/tonne
MB-CU-0383 Copper grade A cathode ER premium, bonded in-whs Shanghai, $/tonne
MB-CU-0382 Copper grade A cathode SX-EW premium, bonded in-whs Shanghai, $/tonne

These premiums are a part of the Fastmarkets Base Metals package.

For more information or to provide feedback on the delayed publication of these premiums or if you would like to provide price information by becoming a data submitter to these premiums, please contact Callum Perry by email at: pricing@fastmarkets.com. Please add the subject heading “FAO: Callum Perry, re: Copper Shanghai Premiums.”

Please indicate if comments are confidential. Fastmarkets will consider all comments received and will make comments not marked as confidential available upon request.

To see all Fastmarkets pricing methodology and specification documents, go to https://www.fastmarkets.com/methodology.

The post Delayed publication of Shanghai copper premiums appeared first on Fastmarkets.

The specification for US Export SBS to Mexico is as follows:

Description: Solid bleached sulfate board, US export 16-pt folding carton C1S, fob Laredo, Texas, $/tonne

Quality (basis weight/strength, brightness): Prices are for prime-quality tonnage with normal trims. Coated on one side.

Quantity: 500-10,000 tonnes/year

Location: United States, Laredo, TX, border crossing

Incoterm: Free on Board

Timing: Orders taken in the month to date for shipment in the current month or the following month.

Unit: Metric tonne

Payment terms: Assume normal and customary payment terms.

Publication: Monthly. Usually at 4.30pm Eastern time on the 3^rd Friday of the month. See full schedule online.

Notes: Price assessments reflect prices before discounts.

The specification for Mexico domestic coated recycled kraft/grey back paperboard is as follows:

Description: Recycled folding boxboard, coated kraft/grey back 320-325 g/m2 or 16-pt, delivered Mexico, peso/tonne

Quality (basis weight/strength, brightness): Prices are for prime-quality tonnage with normal trims. Coated on one side.

Quantity: 100-150 tonnes/year

Location: Mexico

Incoterm: Delivered Mexico City, Monterrey areas

Timing: Orders taken in the month to date for shipment in the current month or the following month.

Unit: Metric tonne

Payment terms: Assume normal and customary payment terms.

Publication: Monthly. On the third or fourth Tuesday of each month. See full schedule online.

Notes: Price assessments reflect the range in which the bulk of transactions took place. Prices are for prime-quality tonnage with normal trims. Coated in one side.

Jan. 17, Jan. 21 startup. The new prices start with the export SBS level reported in Fastmarkets’ PPI Pulp & Paper Week on Jan. 17, 2025, and the Mexico domestic kraft/grey back CRB level reported in Fastmarkets’ PPI Latin America on Jan. 21, 2025. The prices will run each month on a similar schedule. The prices also are reported online.

 If you would like to provide price information by becoming a data submitter, please contact nola.valente@fastmarkets.com for the US pricing, contact sandy.oliveira@fastmarkets.com for the Mexico domestic pricing, and or contact grudder@fastmarkets.com and mfaleiros@fastmarkets.com. Please add the subject heading “FAO: US export SBS pricing for Mexico and Mexico domestic pricing for CRB.”

To see all Fastmarkets RISI pricing methodology and specification documents see here.

To see all Fastmarkets RISI pricing notices please see here.

The post Launch of US and Mexico Boxboard Prices: Pricing Notice appeared first on Fastmarkets.

This consultation, which closed December 19, 2024, seeks to ensure that our methodologies continue to reflect the physical market under indexation, in compliance with the International Organization of Securities Commissions (IOSCO) principles for Price Reporting Agencies (PRAs). This includes all elements of our pricing process, our price specifications and publication frequency.

You can find the current methodology for LL and WBM here.

To see all Fastmarkets pricing methodology and specification documents, go to https://www.fastmarkets.com/methodology/forest-products

The post Open consultation on methodology for Log Lines (LL) and Woodfiber and Biomass Markets (WBM) – Final decision appeared first on Fastmarkets.

He employed the use of import tariffs and other duties throughout his first term as president, including on aluminium and steel. And for his second term, Trump is particularly focused on upping the ante on China and has said he plans to introduce new duties “from day one” of taking office on January 20.

To that end, market participants expect the president-elect to come out of the gate all guns blazing – largely because Trump has already outlined his plans to impose a 25% tax on all products entering the United States from Canada and Mexico, with an additional 10% tariff going on to goods from China, taking those tariffs up to 60%.

Tariffs will stay in place, he wrote on his own social media platform Truth Social, “until the inflow of drugs and illegal immigration into the United States comes to an end.”

He has also talked about a 10% universal tariff on all goods imported into the US, which he said would raise billions to reduce the deficit and allow the government to pay for social and industrial programs.

Whether all these tariffs materialize is another matter, however.

From his statements so far, Trump plans to use some of the proposed tariffs as a bargaining tool to secure leverage on specific measures. That means if Trump secures the concessions he wants, the tariffs might be avoided.

What is not yet clear is whether he will embrace slightly softer “carrot” tactics or double-down on a less conciliatory “stick” approach.

If the incoming US Treasury secretary, Scott Bessent, has anything to do with it, the approach will be more moderate – Bessent has called for tariffs to be “gradual,” and has described the 60% China tariff threat as a “maximalist negotiating position.”

Economists warn that tariffs are also inflationary, would lead to the appreciation of the US dollar, thereby raising the prospect of higher interest rates.

Nonetheless, the consensus is that, whatever else happens, the future Trump administration will implement a 60% tariff against China. Pundits are also broadly betting that the floated 10% universal tariff will come into effect as part of a plan to slash US debt and generate revenues to be used elsewhere.

In theory, a 10% tariff on the $3.1 trillion of goods imported into the United States in 2023 would raise $310 billion. In practise, a universal tariff is likely to have exemptions, such as services and oil & gas, and would reduce import volumes – meaning the overall revenue generated while still impressive, will almost certainly be lower.

Looking to history, the Nixon shock in 1971 saw a 10% surcharge applied to half of all goods, while in 1930, the Smoot Hawley Tariff Act applied to just over half of all goods. Observers have said that a universal tariff is likely to be of a similar order of magnitude, although it’s important to note that both political decisions were key factors leading to subsequent severe economic recessions.

Commodities in focus

Until Trump moves into the White House and action is taken, the “not knowing” is wreaking havoc in the commodity markets, with market participants working to lock-in terms for supply contracts despite have no certainty about the economics behind their deals.

Of course, tariffs aren’t new to the commodities markets and outgoing president Joe Biden kept the Trump-era tariffs in place for China and imposed some more of his own – including a 100% tax on imports of Chinese electric vehicles (EVs) and a 25% tax on lithium-ion batteries, along with steel and aluminium products.

The US steel market has broadly cheered the prospect of additional tariffs in 2025, having benefited heavily from protectionist measures in Trump’s first term in office.

Steel market participants in Mexico and Canada, however, appear less impressed, and leaders of both countries have already had conversations with Trump in an apparent effort to head off tariffs.

Trump has said that he plans to notify Mexico and Canada of his intention to use the six-year renegotiating provision of the United States-Mexico-Canada Agreement (USMCA) to strike better deals – notably with regard to the automotive sector.

For aluminium market participants, it’s déjà vu – all over again.

The US Aluminum Association has already emphasized its view that tariff-free access to the imported Canadian aluminium it so heavily relies on, must be maintained.

It’s an often-overlooked fact that three out of every four cars sold in America contains aluminium from Canada, while one out of every three car and truck wheels manufactured in the US contains aluminium produced in Canada by Rio Tinto. Parts cross the border sometimes more than half-a-dozen times before finishing in a vehicle that ends up in a sales lot in either the US or Canada.

This integrated supply chain has been in existence for decades and provides a competitive advantage to the two countries.

After all, there’s no such thing as an American car – there are US companies, brands and operations, but supply chains are integrated and global.

Tit for tat

As was the case during Trump’s first term, tariffs are likely to lead to retaliatory actions.

In response to tariffs on steel and aluminium during Trump’s first administration, countermeasures were imposed in response. Canada imposed tariffs on aluminium and certain types of American steel as well as yoghurt, whiskey and roasted coffee, while the European Union slapped taxes on products ranging from bourbon to Harley-Davidson motorcycles.

Agricultural commodities were very much used as fodder in a tariff war during the first Trump administration, and there’s concern that this situation will be revived.

China hit back against the tariffs with its own taxes on imports of soybeans and pork, a move calculated to weaken Trump’s support among farmers. Since then, China has been diversifying its sources of agricultural commodities, such as corn, soybeans and sorghum – products that it  typically buys from the US.

This time around, the prospect of tariffs on Mexican tequila and beer have been mooted, while Canada could revive its previous tariffs on products including whisky, ketchup, liquorice, and toilet paper, market observers told Fastmarkets.

There is also a risk that the re-routing of goods – when companies export products to the US relabelled via a third country with a lower import tariff – will grow if widespread tariffs are imposed.

This has been common practice in recent years, leading the Biden administration to impose measures to ensure that Mexican aluminium imports had not been smelted or cast in China, Russia, Belarus or Iran and that imported steel from Mexico had been melted or poured in North America.

China still has some powerful weapons in its arsenal, not least its own restrictions on products imported into the US.

China is already crimping supplies to the US of critical minerals on which the latter relies for defence and semi-conductors, such as gallium, germanium, antimony and graphite.

The Asian country could easily expand its restrictions to other products that the US relies on, such as rare earths. Tariffs are a two-way conversation, and China may well have some of its own “trump cards” to play.

In Hotter Commodities, special correspondent Andrea Hotter covers some of the biggest stories impacting the natural resources sector. Sign up today to receive Andrea’s content as it is published.

The post Trump tariffs 2.0 | Hotter Commodities appeared first on Fastmarkets.

• MB-IRO-0186 Iron ore DR-grade pellet premium indicator, $/tonne (instead be Wednesday December 25)
• MB-STE-0782 Steel billet export, fob ports Iran, $/tonne (instead of Wednesday December 25)
• MB-STE-0781 Steel slab export, fob ports Iran, $/tonne (instead of Wednesday December 25)
• MB-STE-0516 Steel billet import, cfr main port Egypt, $/tonne (instead of Thursday December 26)
• MB-STE-0112 Steel reinforcing bar (rebar) domestic, exw Egypt, E£/tonne (instead of Thursday December 26)

In a change from the previous calendar, these prices are being moved to the day before the holiday instead of the day after, which is not a working day in many Middle Eastern countries.

These prices will also not be published on January 1, which is also a UK public holiday. They will be published the next working day, on January 2, which is unchanged from the previous notice.

Fastmarkets’ pricing holiday calendar has been updated to reflect these changes. You can find the pricing holiday calendar here: 

These prices are part of the Fastmarkets steel price package.

To see all Fastmarkets pricing methodology and specification documents, go to https://www.fastmarkets.com/methodology.

The post Amendment to holiday pricing schedule for five Middle East-related steel and metallics prices appeared first on Fastmarkets.

The proposed specifications of the new price assessment are as follows:

Coated ivory board, 250g/m², Chinese exports to Southeast Asia FOB, $/tonne

Quantity: Minimum 100 tonnes

Location: China

Incoterm: FOB, from Chinese main ports to Southeast Asian main ports

Timing: Orders taken in the month to date for shipment in the current month or the following month

Unit: US dollar per metric tonne

Payment terms: Assume normal and customary payment terms.

Price type: Prices reflect open-market transactions. Transfers between affiliates and transactions whose price is indexed to a published price are excluded.

Publication: Monthly, in the last week of the month or first week of the following month

Assessment Type: Range price assessment

Notes: The price assessment reflects the range in which the bulk of transactions take place. Prices are for prime-quality tonnage with normal trims. The product, with its bulkiness at around 1.3-1.4 cm³/g, has a multilayer fiber structure with bleached chemical pulp in the top and bottom layers and chemi-mechanical pulp in the middle. It usually features double or triple coating on the front and a thin layer of coating on the reverse side.

The price will be part of the Fastmarkets Paper Packaging package.

The consultation period for this proposed launch starts from December 18, 2024 and will end on January 31, 2025. The launch will take place, subject to market feedback, on February 28, 2025.

To provide feedback on this new launch or if you would like to provide price information by becoming a data submitter to this price assessment, please contact Shawn Wang by email at pricing@fastmarkets.com. Please add the subject heading “FAO: Shawn Wang, re: Coated ivory board, Chinese exports to Southeast Asia FOB.”

Please indicate if comments are confidential. Fastmarkets will consider all comments received and will make comments not marked as confidential available upon request.

To see all Fastmarkets pricing methodology and specification documents, go to https://www.fastmarkets.com/methodology.

The post Proposal to launch Coated ivory board, Chinese exports to Southeast Asia FOB assessment: pricing notice appeared first on Fastmarkets.

The specifications are:

CORSIA phase 1, $/tCO2e (CB-CC-0015)
Quality: Assessment of prompt CORSIA EEUs for the 2024-2026 compliance period (first phase) as defined by the International Civil Aviation Organization (ICAO).
Quantity: Min 10,000 tCO2e, Max 100,000 tCO2e
Vintage: 2021 to 2026
Registry: Those approved by ICAO for CORSIA phase 1
Location: Global
Timing: Prompt delivery
Unit: USD per tonne of CO2 equivalent
Publication: Weekly, Wednesday, by 12:30pm London time
Notes: The assessment reflects the most competitive and fungible credits that meet the price specification. The International Civil Aviation Organization (ICAO) publishes information on the CORSIA scheme and EEUs at https://www.icao.int/environmental-protection/CORSIA/Pages/default.aspx.

These prices will be a part of the Fastmarkets Carbon package.

To provide feedback on these prices or if you would like to provide price information by becoming a data submitter to these prices, please contact Sam Carew by email at: pricing@fastmarkets.com. Please add the subject heading FAO: Sam Carew, re: CORSIA phase 1.

Please indicate if comments are confidential. Fastmarkets will consider all comments received and will make comments not marked as confidential available upon request.

To see all Fastmarkets pricing methodology and specification documents, go to https://www.fastmarkets.com/methodology.

The post Launch of CORSIA Phase 1 carbon credit price assessment: pricing notice appeared first on Fastmarkets.

The price specifications for the new prices are as follows:

IFM avoidance, US, $/tCO2e (CB-CC-0013)
Quality: Avoidance carbon credits from representative IFM projects in the United States, from vintages of the past five years.
Quantity: Min 5,000 tCO2e, Max 50,000 tCO2e
Vintage: Past five years
Registry: Verra (Verified Carbon Standard), ACR
Location: United States
Timing: Prompt delivery
Unit: USD per tonne of CO2 equivalent
Publication: Weekly, Wednesday, by 12:30pm London time
Notes: The assessment reflects the most competitive and fungible credits that meet the price specification. The assessed vintages will roll at the start of each year. In 2024, the assessment represents vintages 2020-2024; from January 2025, it will represent vintages 2021-2025. Where credits are not tagged between avoidance and removals, they will be presumed avoidance.

IFM removals, US, $/tCO2e (CB-CC-0014)
Quality: Removal carbon credits from representative IFM projects located in US, from vintages of the past five years.
Quantity: Min 5,000 tCO2e, Max 50,000 tCO2e
Vintage: Past five years
Registry: Verra (Verified Carbon Standard), ACR
Location: United States
Timing: Prompt delivery
Unit: USD per tonne of CO2 equivalent
Publication: Weekly, Wednesday, by 12:30pm London time
Notes: The assessment reflects the most competitive and fungible credits that meet the price specification. The assessed vintages will roll at the start of each year. In 2024, the assessment represents vintages 2020-2024; from January 2025, it will represent vintages 2021-2025. Credits should be tagged as removals on the relevant registry.

These prices will be a part of the Fastmarkets Carbon package.

To provide feedback on these prices or if you would like to provide price information by becoming a data submitter to these prices, please contact Sam Carew by email at: pricing@fastmarkets.com. Please add the subject heading FAO: Sam Carew, re: IFM prices.

Please indicate if comments are confidential. Fastmarkets will consider all comments received and will make comments not marked as confidential available upon request.

To see all Fastmarkets pricing methodology and specification documents, go to https://www.fastmarkets.com/methodology.

The post Launch of two IFM voluntary carbon price assessments: pricing notice appeared first on Fastmarkets.

• ARR VCS, Latin America, $/tCO2e
• ARR VCS v19 differential, Latin America, $/tCO2e
• ARR VCS v20 differential, Latin America, $/tCO2e
• ARR VCS v21 differential, Latin America, $/tCO2e
• ARR VCS native species differential, Latin America, $/tCO2e
• ARR VCS single species differential, Latin America, $/tCO2e
• ARR GS, Latin America, $/tCO2e

The specifications are as follows:

ARR VCS, Latin America, $/tCO2e (CB-CC-0016)
Quality: Carbon credits from representative multi-species ARR projects in Latin America, verified and issued under Verra’s Verified Carbon Standard (VCS), from vintages of the past five years.
Quantity: Min 5,000 tCO2e, Max 50,000 tCO2e
Vintage: Past five years
Registry: Verra (Verified Carbon Standard)
Location: Latin America
Timing: Prompt delivery
Unit: USD per tonne of CO2 equivalent
Publication: Weekly, Wednesday, by 12:30pm London time.
Notes: The assessment reflects the most competitive and fungible credits that meet the price specification. The assessed vintages will roll at the start of each year. In 2024, the assessment represents vintages 2020-2024; from January 2025, it will represent vintages 2021-2025.

ARR VCS v19 differential, Latin America, $/tCO2e (CB-CC-0017)
Quality: The price differential for vintage 2019 ARR Latin America credits to the ARR VCS, Latin America, $/tCO2e (CB-CC-0016) assessment.
Quantity: Min 5,000 tCO2e, Max 50,000 tCO2e
Registry: Verra (Verified Carbon Standard)
Location: Latin America
Timing: Prompt delivery
Unit: USD per tonne of CO2 equivalent
Publication: Weekly, Wednesday, by 12:30pm London time

ARR VCS v20 differential, Latin America, $/tCO2e (CB-CC-0018)
Quality: The price differential for vintage 2020 ARR Latin America credits to the ARR VCS, Latin America, $/tCO2e (CB-CC-0016) assessment.
Quantity: Min 5,000 tCO2e, Max 50,000 tCO2e
Vintage: 2020
Registry: Verra (Verified Carbon Standard)
Location: Latin America
Timing: Prompt delivery
Unit: USD per tonne of CO2 equivalent
Publication: Weekly, Wednesday, by 12:30pm London time

ARR VCS v21 differential, Latin America, $/tCO2e (CB-CC-0019)
Quality: The price differential for vintage 2021 ARR Latin America credits to the ARR VCS, Latin America, $/tCO2e (CB-CC-0016) assessment.
Quantity: Min 5,000 tCO2e, Max 50,000 tCO2e
Vintage: 2021
Registry: Verra (Verified Carbon Standard)
Location: Latin America
Timing: Prompt delivery
Unit: USD per tonne of CO2 equivalent
Publication: Weekly, Wednesday, by 12:30pm London time

ARR VCS native species differential, Latin America, $/tCO2e (CB-CC-0020)
Quality: The price differential for credits issued by Latin America ARR projects that plant 100% native species to the ARR VCS, Latin America, $/tCO2e (CB-CC-0016) assessment.
Quantity: Min 5,000 tCO2e, Max 50,000 tCO2e
Vintage: Past five years
Registry: Verra (Verified Carbon Standard)
Location: Latin America
Timing: Prompt delivery
Unit: USD per tonne of CO2 equivalent
Publication: Weekly, Wednesday, by 12:30pm London time. 
Notes: The assessed vintages will roll at the start of each year. In 2024, the assessment represents vintages 2020-2024; from January 2025, it will represent vintages 2021-2025.

ARR VCS single species differential, Latin America, $/tCO2e (CB-CC-0021)
Quality: The price differential for credits issued by Latin America ARR projects that plant only single species to the ARR VCS, Latin America, $/tCO2e (CB-CC-0016) assessment.
Quantity: Min 5,000 tCO2e, Max 50,000 tCO2e
Vintage: Past five years
Registry: Verra (Verified Carbon Standard)
Location: Latin America
Timing: Prompt delivery
Unit: USD per tonne of CO2 equivalent
Publication: Weekly, Wednesday, by 12:30pm London time
Note: The assessed vintages will roll at the start of each year. In 2024, the assessment represents vintages 2020-2024; from January 2025, it will represent vintages 2021-2025.

ARR GS, Latin America, $/tCO2e (CB-CC-0022)
Quality: Carbon credits from representative multi-species ARR projects in Latin America, verified and issued by Gold Standard, from vintages of the past five years.
Quantity: Min 5,000 tCO2e, Max 50,000 tCO2e
Vintage: Past five years
Registry: Gold Standard
Location: Latin America
Timing: Prompt delivery
Unit: USD per tonne of CO2 equivalent
Publication: Weekly, Wednesday, by 12:30pm London time
Notes: The assessment reflects the most competitive and fungible credits that meet the price specification. The assessed vintages will roll at the start of each year. In 2024, the assessment represents vintages 2020-2024; from January 2025, it will represent vintages 2021-2025.

These prices will be a part of the Fastmarkets Carbon package.

To provide feedback on these prices or if you would like to provide price information by becoming a data submitter to these prices, please contact Sam Carew by email at: pricing@fastmarkets.com. Please add the subject heading FAO: Sam Carew, re: ARR prices.

Please indicate if comments are confidential. Fastmarkets will consider all comments received and will make comments not marked as confidential available upon request.

To see all Fastmarkets pricing methodology and specification documents, go to https://www.fastmarkets.com/methodology.

The post Launch of seven ARR voluntary carbon price assessments and differentials: pricing notice appeared first on Fastmarkets.