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FTNX COMMODITY INDEX (FCI) 2024

FUTURES: 90-120 DAYS FIRST DELIVERY SEMI FIXED PRICES 

  • FCI is formally open for business: 1 Feb 2024.
  • Prices on FCI  are checked daily but only changed as per prices recorded  15th March 2024
  • (FORN) FCI Offer Reference Number : FTNX-25J-009
  • All prices  subject to final negotiations and acceptance of an  offer 
  • Mitigated fixed price basis  is offered for future deliveries. No spot prices served. 
  • For payment made  at sight collection via IDLC.


LATEST FTNX  OFFERS TO SUPPLIERS WORLDWIDE 

FTNX offers the best prices in the world to export ready suppliers

POSTED INDEX : 15 MARCH 2024  12.01 PM AEST

FTNX PAYS SUPPLIER  FOR  FIRST DELIVERY DATE : 15 JULY 2024

PRODUCT  LIST………………

EXW US$ MT………….

FTNX  DeliveryMargin…..

Margin Value ……………….

New Gross Price……………..

Less OPX…………………….

OPX Value ………………….

FTNX  Delivery FCA or  at FOB………

5.0% Tolerance ……….

Next Change Low …………….

Next Change High@…………..

FTNX SWEET

$680.53

5.0%

$34.03

$714.55

1.22%

$8.72

705.84

$35.39

$670.54

$741.13

JET FUEL

$724.23

6.60%

$47.80

$772.03

1.88%

$14.51

$757.52

$37.88

$719.54

$795.39

ULS D2

$849.10

6.70%

$56.89

$905.99

2.33%

$21.11

$884.88

$44.24

$840.64

$929.12

LNG

$1255.00

15.32%

$78.99

$1272.99

2.75%

$35.00

$1237.98

$61.89

$1117.08

$1299.88

THERMAL COAL

$111.00

9.5%

$10.55

$121.55

4.75%

$5.77

$115.77

$5.79

$109.98

$121.56

WHITE SUGAR

$580.00

7.2%

$41.76

$621.76

7.75%

$48.19

$573.57

$28.68

$544.89

$602.25

SOYBEANS

$420.00

10.1%

$42.42

$462.42

4.75%

$21.96

$440.46

$22.02

$418.43

$462.48

CORN

$202.00

12.1%

$24.44

$226.24

6.75%

$15.28

$211.16

$10.56

$200.60

$221.72

FLOUR

$325.85

12.1%

$38.43

$365.28

9.75%

$35.61

$329.66

$16.48

$313.18

$346.15

COPPER CATH

$8927.78

4.95%

$441.89

$9368.89

3.01%

$282.00

$9086.88

$474.34

$8632.54

$9541.23

ZINC

$2576.00

5.75%

$148.12

$2724.12

4.75%

$129.40

$2594.72

$129.74

$2464.99

$2724.46

IRON ORE

$113.00

21.25%

$24.01

$137.01

6.45%

$8.84

$128.18

$6.41

$121.77

$134.58

ALUMIN ING

$2264.00

4.1%

$92.82

$2356.82

5.75%

$135.52

$2221.31

$111.07

$2110.24

$2332.37

POTASH

$350.00

9.5%

$33.30

$383.80

4.75%

$18.23

$365.57

$18.28

$347.29

$383.85

CAUSTIC SODA

$333.00

15.5%

$51.62

$384.62

4.75%

$18.27

$366.35

$18.32

$348.03

$384.66

ETHANOL

$435.00

15.50%

$67.43

$502.43

4.75%

$23.87

$478.56

$23.93

$454.63

$502.49

UREA

$370.00

13%

$48.10

$418.10

5.75%

$24.04

$394.06

$19.40

$374.36

$413.76

FROZ CHICKEN

$1850.00

14.22%

$263.07

$2113.07

7.75%

$163.76

$1949.31

$97.47

$1851.84

$2046.77


  • PRODUCT LIST: Name of goods being traded by FTNX. Assurance of Supply(AOS) provided by a supplier  for a new product to be listed is considered  FTNX on merit.
  • EX US$ MT: This is the price of goods  assessed by FTNX  as obtained from leading  sources online  as evaluated  from the delivery modes  referred to as  Ex-works (EXW) , Free Along Side ( FAS) or Gate  delivery prices.
  • FTNX Delivery Margin and Premium : FTNX margin offered to the supplier to assist the supplier  in ensuring a FOB or FCA incoterms delivery mode is served.To assist supplier with getting goods to port of loading.A FTNX  added service fee is offered as a premium on the price of goods..
  • Margin Value: This is the value of the margin/premium  offered by FTNX to assist supplier getting good to Port of Loading.etc..
  • New Gross Price: This is the new buy  price arrived at after margin is added.
  • Less OPX:  FTNX Operating Expenses  (OPX) is made transparent .OPX covers unforeseen events, payments of commission, rebates, LDD and a 1.12% Fee for using the FCI to secure a higher price for goods listed. A part of the OPX is served as a discount to FTNX clients buying goods from the FCI.
  • OPX Value : The is the  average value in USD$  of the OPX as it applies to a specific  product . Often OPX is higher for FCL  deals than it is for NBC. The payment price accepted by FTNX suppliers dictates the OPX aspect.
  • FTNX Delivery at FCA or FOB: FCA is for Container based transactions. FOB is for Non Break Cargo (NBC) Whole shipments.  The Purple Print  is the price FTNX is considering to pay  a supplier for listed goods ; as supported by a valid offer or AOS.(Same listed price applies to end buyers-less any discount  provided by FTNX)
  • 5.0% Tolerance :MITIGATIONS FACTORS: Price is firm for first delivery only. Prices thereafter follow  an established exchange .Prices only change higher or lower  if on the 15th day of a delivery month, when prices are recorded/taken, the price of goods exceeds or falls below the offered mitigation factor - the new payment price applies.  
  • A semi fixed contract price is offered. If the price of goods fall below  or increases above the tolerance factor advised,  the supplier is paid the standing prices, plus/minus   the  differential  in  effect, once a  delivery prices breaches the tolerance factor for a particular delivery.This is one  trigger that is able to change FCI price.
  • Example (a):  A supplier has offered a Copper Cathodes at US$ 8647.75 per MT FCA as per the accepted FCI offer reference number (FORN).  The first three deliveries  lets say, recorded no change in the standing  price as market conditions have not breached the tolerance factor .
  • Example (b):  As per above example (a)  the fourth delivery breached the tolerance factor by US$5.00 per MT  for that month. The supplier is paid the standing price plus US$5.00 extra per MT (US$ 8652.75)
  • Example (c):  As per above example (b)  the fourth delivery fell below the tolerance factor by US$5.00 per MT  for that month. The supplier is paid the standing price plus US$5.00 extra per MT (US$ 8642.75)
  • The board may change after a contract has been signed with a supplier or end buyer, except for the first delivery prices basis which is a fixed basis, as supported by the FCI offer  and FORN reference number as applied  at the time the contract is sealed. 
  • The board changes every month ( or in the interim) to reveal a new price. The  relevant  FORN number when paying a supplier is added to a contract along with agreed upon mitigation factors applying when the contract is sealed. 
  • New price apply to the supplier when contracted FORN mitigation factors are in breach of FCI listed prices.
  • If for example May delivery prices have not breached  the FCI listed June delivery price offered, the supplier is paid the previous  May FCI prices supported by the FORN. If the price has breached the past FCI price held on contract; as per the new current  listing, the supplier is paid the new listed price.


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