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After a consultation period, Metal Bulletin has agreed to continue pricing the number for one more year to allow those with contracts based on the price to unwind their use of the number before discontinuing it permanently from 2019.
The last assessment will now take place on Friday December 21, 2018, instead of Friday December 15, 2017, as was initially proposed in a consultation in June.
Metal Bulletin discovered through the consultation that some parties still have contracts on the number that are due to expire next year.
Metal Bulletin intends to promote its delivered duty-paid North Germany (Ruhr region) with 30-day payment terms price as the alternative benchmark for those currently using the in-warehouse Rotterdam number – the delivered price is already available to Metal Bulletin subscribers via the Price Book.
Both prices are assessed on a twice-monthly basis (first and third Fridays of the month) while Metal Bulletin also assesses delivered billet premiums for Italy and Spain once a month, prices of which are also available on both Metal Bulletin and FastMarkets.
Metal Bulletin currently receives no direct assessments, transactions or bids/offers for the Rotterdam price itself. Instead, the price is calculated by netting back the logistics and fot costs from assessments provided for the delivered Germany price.
The differential is currently calculated at an average of $40 per tonne, up from $35 previously, although this is reassessed on a quarterly basis by Metal Bulletin.
If you have any comments or questions, please email pricing@metalbulletin.com. Please make the subject heading FAO: Ian Walker, re: aluminium 6063 extrusion billet in-warehouse Rotterdam. Any comments that are intended to be confidential should be clearly marked as such.
If you have any questions about Metal Bulletin’s general pricing methodology and policy, please contact Metal Bulletin’s global base metals editor Perrine Faye at perrine.faye@metalbulletin.com.
To see all Metal Bulletin’s pricing methodology and specification documents, go to https://www.metalbulletin.com/prices/pricing-methodology.html.