Dry Commodities
Minerals
Industrial and metallic minerals cover a wide range of ores and concentrates with highly product-specific commercial terms.
MARKET REFERENCES
How the market commonly references price
There is rarely one universal price for a physical commodity. Commercial value depends on the benchmark, specification, origin, destination, timing and logistics agreed between buyer and seller.
- Relevant exchange or price-reporting benchmark where available
- Assay-based payable-metal value
- Regional FOB / CFR market indications
TYPICAL COMMERCIAL STRUCTURE
How physical pricing is often built
For concentrates, a common structure is reference metal price × payable content, less treatment/refining charges and applicable penalties, plus/minus quality adjustments. For bulk industrial minerals, outright FOB/CFR pricing is more common.
PRICE DRIVERS
What moves the physical differential?
- Assay / purity
- Impurities and penalties
- Recovery / payable terms
- Origin
- Freight
PHYSICAL TRADE
Commercial considerations
There is no single benchmark for 'minerals'; the pricing formula must be built around the exact mineral, grade and processing route.
The examples on this page describe common market conventions at a high level. Actual contracts can use different pricing periods, assessments, quality adjustments, Incoterms and negotiated differentials.
Market methodology reference: view source / methodology
PHYSICAL COMMODITY BROKERAGE
Discuss a Minerals requirement.
Share the specification, quantity, origin or destination, delivery basis and timing.