Identity & form
Record the chemical or material identity: metal, oxide, carbonate, hydroxide, concentrate, alloy or another product.
RESEARCH / PROCUREMENT DISCIPLINE
A price needs
a specification.
Two figures with the same currency may describe different materials, delivery conditions and market boundaries.
01 / THE COMPARISON PROBLEM
Define the product
before the number.
USGS commodity reporting distinguishes materials, units and product forms. Those distinctions are also essential in procurement: a price for a concentrate is not directly comparable with a price for a refined chemical or finished component.
The following checklist is our original comparison framework. It is not a price-assessment methodology and does not reproduce any publisher’s proprietary price data.
Sources & context
USGS — Mineral Commodity Summaries 2026 ↗
6 February 2026; revised May 2026 · Reviewed 5 November 2026.
02 / A MINIMUM COMPARISON RECORD
Six fields for a
meaningful price discussion.
Grade & impurities
Specify purity, particle size and relevant impurity limits. Verify laboratory and qualification requirements.
Unit & basis
State tonnes, kilograms or contained-metal units. Lithium content and lithium carbonate equivalent are different bases.
Location & delivery
Identify origin, delivery point, freight, insurance and applicable contractual delivery terms.
Time & market
Record assessment date or quotation period, spot or contract context, shipment timing and volume.
Payment & adjustments
Record currency, payment terms, taxes, duties, treatment charges and specification adjustments where relevant.
The Scenario Lab uses a user-entered USD price per tonne of one consistently defined material. It performs no grade, moisture, contained-metal, currency or chemical-equivalent conversion.
03 / MAKE THE BRIEF REUSABLE
Bring the boundary
into the conversation.
A clear materials brief should travel with any scenario result.
Specify the product form and unit before sharing a cost calculation. Ask a qualified supplier or licensed data provider for a current, contract-relevant quotation or assessment.
Prepare a materials briefSources & context
London Metal Exchange — LME Copper — Contract specifications ↗
Publication date not stated · Reviewed 5 November 2026.
Fastmarkets — Lithium Methodology FAQs ↗
Publication date not stated · Reviewed 5 November 2026.