The consultation period started on Friday March 24 and ended on Monday April 24, with the changes taking place on Thursday April 27.
Fastmarkets has increased the frequency of publication to weekly from fortnightly in order to better reflect any market movements.
The next publication will be Thursday April 27.
Alongside this, in order to capture greater liquidity, deals concluded with loading between 60-90 days will be accepted into the index with a minimum tonnage weighting of 5,000 tonnes.
Deals loading within two months continue to be given full tonnage weighting.
Fastmarkets will continue to only include non-transaction data points on a spot basis.
Reporters may apply expert judgment to exclude data deemed unrepresentative, questionable or unreliable prior to the final calculation. All discarded data will be given zero-tonnage weighting.
The updated specifications of the index are:
MB-ALU-0003 Alumina index adjustment to fob Australia index, Brazil, $ per dmt
Quality: Smelter-grade alumina, minimum purity of 98.5% Al2O3
Quantity: Min 5,000 tonnes
Location: fob Vila do Conde, Brazil (other Pacific origins normalized)
Timing: within two months
Unit: US$ per dry metric tonne (dmt)
Payment terms: 30 days after loading
Publication: Weekly. Thursday - 4pm London time
Notes: Bulk carrier
Deals concluded for loading within 60-90 days will be given minimum tonnage weighting in the index.
To provide feedback on this index or if you would like to provide price information by becoming a data submitter to this index, please contact Carrie Bone by email at: pricing@fastmarkets.com. Please add the subject heading “FAO: Carrie Bone, re: alumina fob Brazil.”
To see all Fastmarkets’ pricing methodology and specification documents go to https://www.fastmarkets.com/methodology.
