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 pricing@fastmarkets.com. 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.

What to read next
The prices were published at 3:59 pm UK time instead of the scheduled time of 2-3 pm UK time. The following price was published late:MB-STE-0149 steel scrap heavy scrap domestic, delivered mill China, yuan/tonne  These prices are a part of the Fastmarkets scrap package. For more information or to provide feedback on the delayed publication of […]
The publication of Fastmarkets’ iron ore indices for Friday June 20 was delayed due to a technical issue. Fastmarkets’ pricing database has been updated. The following indices were affected:MB-IRO-0191 61% Fe fines, cfr Qingdao, $/tonneMB-IRO-0008 62% Fe fines, cfr Qingdao, $/tonneMB-IRO-0144 62% Fe low-alumina fines, cfr Qingdao, $/tonneMB-IRO-0015 Iron ore 58% Fe fines, cfr Qingdao, […]
Fastmarkets proposes to discontinue its outright price assessments for mixed hydroxide precipitate (MHP).
The publication of Fastmarkets’ MB-ILM-0004 Ilmenite concentrate, 47-49% TiO2, cif China, $/tonne, MB-RUT-0001 Rutile 95% TiO2 min, large volumes for pigment, fob Australia, $/tonne and MB-RUT-0002 Rutile 95% TiO2 min, bagged, fob Australia, $/tonne price assessments for Thursday June 19 were delayed because of reporter error. Fastmarkets’ pricing database has been updated. The following prices […]
Due to a system error, the market price for June 2 was used twice in the calculation of the weekly average for AG-FML-0008 Feathermeal, fob US Delmarva Peninsula, $/short ton, resulting in an error. Fastmarkets’ pricing database has been updated to reflect this change. Incorrect weekly average for May 31-June 6: $185-270 per short tonCorrect weekly average […]
Following preliminary discussions with the market and interrogation of data collected by Fastmarkets over recent months, Fastmarkets now proposes to assess and publish the price for ferro-niobium, 63-67%, delivered consumer works, dp Europe, on Wednesdays and Fridays, from the current basis of once weekly on Wednesdays. This more frequent price assessment will enable Fastmarkets to […]