Amendment to aluminium P1020A methodology for Europe, US, Japan
Following a month-long consultation, Fastmarkets has amended its IOSCO-accredited aluminium P1020A premium methodology to allow for flexibility on the underlying futures price used.
The methodology previously stated that the premiums are on top of the London Metal Exchange cash price. Fastmarkets has amended the methodology to clarify that, in addition to the LME, its premiums can be used with underlying futures aluminium prices on the Chicago Mercantile Exchange. The choice is down to industry market participants.
The specifications behind Fastmarkets’ aluminium premiums are aligned with those of either exchange.
The premiums the change relates to are as follows:
• MB-AL-0346 - Aluminium P1020A premium, in-whs dup Rotterdam, $/tonne
• MB-AL-0004 - Aluminium P1020A premium, in-whs dp Rotterdam, $/tonne
• MB-AL-0316 - Aluminium P1020A premium, fca dp Italy, $/tonne
• MB-AL-0343 - Aluminium P1020A (MJP) spot premium, cif Japan, $/tonne
• MB-AL-0020 - Aluminium P1020A premium, ddp Midwest US, US cents/lb
The update will be effective from Tuesday April 11, 2023.
To provide feedback, or if you would like to provide price information by becoming a data submitter to these price assessments, please contact Alice Mason by email at firstname.lastname@example.org. Please add the subject heading “FAO Alice Mason, re Aluminium P1020A methodology.”
To see all Fastmarkets’ pricing methodology and specification documents, go to https://www.fastmarkets.com/about-us/methodology.