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This move allows Fastmarkets to better capture fluctuations in the market and provide greater clarity.
Effective Wednesday August 7, the amendment will be implemented with its first daily publication and the new specifications are as follows:
MB-AL-0343 Aluminium P1020A (MJP) spot premium, cif Japan, $/tonneQuality: P1020A or 99.7 % Minimum Al purity (Si 0.10% max, Fe 0.20% max) in line with LME specifications. Ingot, T-bar, sowQuantity: Min 100 tonnesLocation: cif in main Japanese ports at Yokohama, Nagoya and Osaka, premium on top of exchange-listed aluminium priceTiming: Within two calendar monthsUnit: USD/tonnePayment terms: Cash against documents (2 days after Bill of lading date)Publication: Daily by 4pm London timeNotes: Excluding metal from LME warehouses and metal subject to international sanctions. Assessed by Fastmarkets’ Singapore Office.The assessment is a part of the Fastmarkets base metals package.
To provide feedback or if you would like to provide price information by becoming a data submitter to this price assessment, please contact Chay Chye Leng by email at pricing@fastmarkets.com. Please add the subject heading “FAO: Chay Chye Leng Re: Aluminium MJP spot methodology.”
Please indicate if comments are confidential. Fastmarkets will consider all comments received and will make comments not marked confidential available upon request.
To see all Fastmarkets’ pricing methodology and specification documents, go to https://www.fastmarkets.com/about-us/methodology.