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Fastmarkets, an industry-leading cross-commodity price-reporting agency (PRA), has announced the launch of a new low-carbon-aluminium differential price in Asia.
The launch of a low-carbon aluminium price differential responds to the increasing demand for sustainable materials in the automotive and manufacturing sectors in Asia. Recognizing the inflow of low-carbon aluminium to Japanese and South Korean markets, and the readiness of these sectors to pay a premium over conventional aluminium, Fastmarkets aims to establish a transparent pricing mechanism that reflects the growing green economy in Asia.
Starting March 1, Fastmarkets will publish a CIF Japan and South Korea differential, making it the premier PRA to price East Asia’s low-carbon aluminium. The launch of the price expands Fastmarkets’ suite of low-carbon aluminium prices to include Asia and complements its European and US prices.
The CIF Japan and South Korea low-carbon aluminium differential will be assessed against CIF major Japanese ports premium, Fastmarkets’ benchmark price for aluminium in Asia.
The differential features a robust specification as follows:
Raju Daswani, CEO of Fastmarkets, underlines the company’s commitment to providing prices, news and analysis to a fast-evolving market, stating, “We are excited to lead the charge in pricing transparency for sustainable commodities, especially at a time when the industry at large is moving towards a greener future.”
With this launch, Fastmarkets reaffirms its reputation as a standard-bearer of innovation in commodity pricing, alongside notable actions such as pricing black mass, launching an Asia green steel differential and a new European carbon-reduced flat steel price.