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After a consultation period that started on July 14, Fastmarkets will launch a weekly price assessment of each of the two grades that will start on Friday August 25, 2023.
Europe is a major trading area for secondary aluminium pressure diecasting ingot, and there is market demand to expand the range of price assessments from subscribers who already refer to Fastmarkets’ assessment of the most widely traded grade, DIN 226.
During the consultation period, market participants indicated that weekly published assessments of the prices for DIN 230 and DIN 239 would bring increased visibility to markets that account for 10-20% of all the secondary aluminium alloys traded in mainland Europe each year.
A price assessment based on physical market data was welcomed by participants because it would be more representative than the current London Metal Exchange AA (aluminium alloy) quotation, which is currently used as a proxy.
Fastmarkets will be assessing the pressure diecasting grade (D) grade material, and not the sand and gravity casting grade material, following feedback from the market.
Materials falling within the specification ranges detailed below can be included in the assessments of the two new prices.
The specifications of the new assessments are as follows:
MB-AL-0387 Aluminium pressure diecasting ingot DIN230, delivered Europe, € per tonne Quality: Ingot, Cu 0.08% max, Si 10.5-13.5%, Fe 0.45-0.9%, Mn 0.55% max, Zn 0.15% max Quantity: Min 25 tonnes Location: Delivered consumer works in Europe, most consumers in Northern Europe, in particular Germany Timing: Within 2 months Unit: EUR per tonne Payment terms: 30 days, other payment terms normalized Publication: Weekly, Friday 3-4pm London time.
MB-AL-0388 Aluminium pressure diecasting ingot DIN239, delivered Europe, € per tonne Quality: Ingot, Cu 0.08% max, Si 9.00-11.00%, Fe 0.45-0.9%, Mn 0.55% max, Mg 0.25-0.50%, Zn 0.15% max Quantity: Min 25 tonnes Location: Delivered consumer works in Europe, most consumers in Northern Europe, in particular Germany Timing: Within 2 months Unit: EUR per tonne Payment terms: 30 days, other payment terms normalized Publication: Weekly, Friday 3-4pm London time.
Notes: All origins.
To provide feedback on these prices, or if you would like to provide price information by becoming a data submitter to these assessments, please contact Declan Conway by email at: pricing@fastmarkets.com. Please add the subject heading: “FAO: Declan Conway re: Europe secondary aluminium diecasting assessments.”
To see all of Fastmarkets’ pricing methodology and specification documents, go to: https://www.fastmarkets.com/methodology.