The move to daily will allow Fastmarkets to better capture fluctuations in the market and follows initial positive market feedback requesting further transparency for the market.
The new proposed specifications for the premium will be as follows:
MB-AL-0020 Aluminium P1020A premium, ddp Midwest US, US cents/lb
Quality: P1020A or 99.7% minimum Al purity (silicon 0.10% max, iron 0.20% max, zinc 0.03%, gallium 0.04%, vanadium 0.03%). Ingot, T-bar, sow
Quantity: 100 tonnes
Location: Delivered consumer works Midwest, premium on top of exchange-listed aluminium price
Unit: US cents per lb
Timing: Within 4 weeks
Payment terms: 30 days, other terms normalized
Publication: Daily 3-4pm London time
The consultation period for this proposed increase starts from Friday December 1 and will end on Tuesday January 2. The amendment will take place, subject to market feedback, on that day.
To provide feedback on this price, or if you would like to provide price information by becoming a data submitter to this price, please contact Yasemin Esmen by email at pricing@fastmarkets.com. Please add the subject heading “FAO: Yasemin Esmen, re: US P1020 aluminium price.”
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.
