Fastmarkets amends minimum tonnage specification for aluminium P1020A (MJP) spot premium, cif Japan

The amendment follows the decision made on June 17, after a consultation period for the proposed change which took place between May 18 and June 17.

The changes were first proposed in a pricing notice published on May 18.

The purpose of the change is to better reflect significant spot market transactions following preliminary market feedback that smaller-sized spot market transactions may be skewed and not reflective of the wider market, although no feedback was received during the consultation period.

The new specifications are as follows, with changes in italics:

MB-AL-0343 Aluminium P1020A (MJP) spot premium, cif Japan, $/tonne
Quality: P1020A or 99.7 % Minimum Al purity (Si 0.10% max, Fe 0.20% max) in line with LME specifications. Ingot, T-bar, sow
Quantity: Min 500 tonnes
Location: cif in main Japanese ports at Yokohama, Nagoya and Osaka, premium on top of exchange-listed aluminium price
Timing: Within two calendar months
Unit: USD/tonne
Payment terms: Cash against documents (2 days after Bill of lading date)
Publication: Daily. 6-7pm Singapore time

This price is a part of the Fastmarkets base metals package.

Please send any questions or comments to pricing@fastmarkets.com and basemetals@fastmarkets.com. Please indicate if comments are confidential. Fastmarkets will consider all comments received and will make comments not marked as confidential available upon request.

To see all Fastmarkets pricing methodology and specification documents, go to the Fastmarkets methodology page.