As part of a market consultation, Fastmarkets received market-wide support for changing the premium's group name to aluminium primary foundry alloy silicon 7 ingot.

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The reference to “wheel” in the name is now outdated and market participants say the uses for the ingots have become more varied.

The premiums affected are below with the new names in bold: 
MB-AL-0348 - Aluminium primary foundry alloy silicon 7 ingot annual premium, cif main South Korean ports, $/tonne - Annual
was: Aluminium wheel alloy silicon 7 ingot annual premium, cif main South Korean ports, $/tonne - Annual 

MB-AL-0349 - Aluminium primary foundry alloy silicon 7 ingot annual premium, cif MJP, $/tonne - Annual
was: Aluminium wheel alloy silicon 7 ingot annual premium, cif MJP, $/tonne - Annual 

MB-AL-0341- Aluminium primary foundry alloy silicon 7 ingot premium, cif dup over P1020A Turkey, $/tonne - Monthly
was: Aluminium wheel alloy silicon 7 ingot premium, cif dup over P1020A Turkey, $/tonne - Monthly 

MB-AL-0340 - Aluminium primary foundry alloy silicon 7 ingot premium, ddp Eastern Europe, $/tonne – Monthly
was: Aluminium wheel alloy silicon 7 ingot premium, ddp Eastern Europe, $/tonne - Monthly 

MB-AL-0339 - Aluminium primary foundry alloy silicon 7 ingot premium, ddp Germany, $/tonne - Monthly
was: Aluminium wheel alloy silicon 7 ingot premium, ddp Germany, $/tonne - Monthly 

MB-AL-0342 - Aluminium primary foundry alloy silicon 7 ingot /T-bar premium, dlvd dup over P1020A Midwest US, US cents/Ib – Monthly
was: Aluminium wheel alloy silicon 7 ingot/T-bar premium, dlvd dup over P1020A Midwest US, US cents/Ib

The Fastmarkets pricing database, MInD, has been updated to reflect these name changes.

There are no changes to the specifications of the assessments.

To provide feedback, 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.