PRICING NOTICE: Proposal to change the names of aluminium wheel alloy silicon 7 ingot premiums

Fastmarkets proposes to refine the names of its global aluminium wheel alloy silicon 7 ingot premiums to reflect the material’s usage in the market.

The aluminium wheel alloy silicon 7 ingot premiums are commonly known in the market as primary foundry alloy (PFA) or aluminium alloy silicon 7 premiums.

The reference to “wheel” in the name is now outdated and market participants say the uses for the ingots have become more varied.

Fastmarkets proposes to change the premium’s group name to aluminium primary foundry alloy silicon 7 ingot.

The premiums affected would be: 

For example, Aluminium wheel alloy silicon 7 ingot premium, ddp Eastern Europe, $/tonne would change to Aluminium primary foundry alloy silicon 7 ingot, ddp Eastern Europe, $/tonne.

There are no proposed changes to the specifications of the assessments.

The consultation period will last for two weeks and end on Wednesday July 15 with changes to be implemented immediately, subject to the result of the consultation.

To provide feedback on this proposal, or if you would like to provide price information by becoming a data submitter to these assessments, please contact Alice Mason or Justin Yang by email at pricing@fastmarkets.com. Please add the subject heading “FAO: Alice Mason / Justin Yang, re: aluminium wheel alloy silicon 7 ingot premiums”

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

What to read next
Fastmarkets will amend the specifications of its existing price assessments for Europe/US lithium spot battery-grade and technical-grade lithium hydroxide and carbonate to remove the US footprint, and will launch weekly price assessments for spot battery-grade and technical-grade lithium hydroxide and carbonate for the United States and Canada on Thursday April 4.
The March 2024 monthly averages were published today based on the index values of March 1, 8, 15 and 22.
Fastmarkets has corrected its MB-STE-0034 steel domestic plate 8-40mm, exw Northern Europe and MB-STE-0035 Steel domestic plate 8-40mm, exw Southern Europe assessments, which were published incorrectly on Wednesday March 27.
The publication of Fastmarkets’ daily assessment for aluminium P1020A premium, ddp Midwest US was delayed on Wednesday March 27. Fastmarkets’ pricing database has been updated.
Fastmarkets' holiday pricing schedule for 2024 has been updated to reflect the change in the pricing frequency of its mixed hydroxide precipitate (MHP) cif China, Japan and South Korea (CJK) prices.
Fastmarkets is inviting feedback from the industry on the pricing methodologies for its steel hot-rolled coil index domestic, exw Northern Europe, €/tonne (MB-STE-0028) and steel hot-rolled coil index, fob mill US Midwest, $/cwt (MB-STE-0184) as part of its annual methodology review process.