PRICING NOTICE: Proposal to amend methodology for Aluminium P1020 cif main Japanese ports (MJP) premiums

Metal Bulletin proposes changes to the pricing methodology for its Aluminium P1020 cif quarterly main Japanese ports (MJP) premium and Aluminium P1020 cif MJP spot premium.

Aluminium P1020 cif quarterly main Japanese ports (MJP) premium 
Metal Bulletin plans to update the methodology to include confirmed deals from at least one major consumer (instead of two consumers currently) and confirmed deals with traders. This is to reflect the increasing volumes of deals taking place between traders and producers for the settling of this benchmark. The methodology will continue to be considered settled if deals with three producers are reported to us.

Metal Bulletin tries to ensure both the buy and sell side of deals are reported to us, however, the 30,000-tonne threshold is all the total deals reported to us and not unique business.

Metal Bulletin is also reclassifying certain market participants involved in the talks such as Panasonic and Sumitomo Chemicals who were considered consumers to trading houses because a large part of their trading activity is not for their own consumption but for third-party trading.

The main overseas producers involved in the quarterly negotiations are Rio Tinto, Alcoa, South32 and Rusal. Indian and Middle Eastern producers and their material are not considered during the settling of the quarterly benchmark.

Aluminium P1020 cif spot main Japanese ports (MJP) premium
Metal Bulletin plans to increase the frequency of the assessment to twice weekly to more accurately ascertain moves in the premium taking into account deals, bid, offers, deals heard and assessments during the week. This will result in a more liquid assessment, capturing moves in the premiums twice in a week.

This would also bring the spot MJP pricing frequency, in line with the proposed changes to US Midwest premium pricing frequency, to twice-weekly. 

Currently, an assessment of the spot MJP aluminium premium is produced every Tuesday. Under the adjusted methodology, the premium would be assessed every Tuesday and Friday.

Metal Bulletin is also proposing to continue pricing a spot low-high range and to stop assessing a single spot MJP assessment number. 

The consultation period for these proposed amendments will end one month from the date of this pricing notice on March 20, with changes taking place from March 21.

To provide feedback on this price or if you would like to provide price information by becoming a data submitter to this price, please contact Shivani Singh by email at: pricing@metalbulletin.com. Please put ‘FAO: Shivani Singh, re: Aluminium P1020 cif  main Japanese ports (MJP) premium’ in the subject line.

To see all Metal Bulletin’s pricing methodology and specification documents go to https://www.metalbulletin.com/prices/pricing-methodology.html

What to read next
This strategic launch is intended to offer the market a single reference price denoting the differential between US Midwest rebar and heavy melting-grade scrap, a key component in the production of that grade. Details of the previous launches can be found via this link. The methodology specification for this differential is: MB-STE-0930 Steel reinforcing bar […]
Fastmarkets has concluded its annual industry consultation and will add new straight-length assessments for Eastern S-P-F #1&2 2x4 and 2x6 8’-16’ delivered Toronto. Fastmarkets will also assess an adder for Southern Yellow Pine #2 Prime 2x4, 2x6, and 2x8.
The last assessments for the LWC and MWC rotogravure grades will be published on July 17. The prices will be discontinued on August 21. The affected prices are: FP-GP-0027 LWC rotogravure reels 60-g, France, €/tonne FP-GP-0026 LWC rotogravure reels 60-g, Germany, €/tonne FP-GP-0083 LWC rotogravure reels 57-g, Germany, €/tonne FP-GP-0082 LWC rotogravure reels 54-g, Germany, €/tonne FP-GP-0086 MWC rotogravure reels […]
The prices affected are: FP-CTB-0001 Brazil Kraftliner 120-150 g/m2, FOB Mill FP-CTB-0002 Brazil White top liner 130-200 g/m2, FOB Mill FP-CTB-0003 Brazil Fluting 120 g/m2, FOB Mill FP-CTB-0004 Brazil Testliner 120-130 g/m2, FOB Mill FP-CTB-0005 Mexico Recycled Medium, 120-180 g (domestic) FP-CTB-0006 Mexico Recycled Linerboard, 130-180 g (domestic) Brazil Kraftliner 120-150 g/m2, FOB Mill; Brazil […]
This strategic launch is designed to offer the market a single reference price denoting the differential between hot-rolled steel products and the key benchmark scrap and raw materials composite in the production of those grades. The methodology grades for these differentials are as follows: MB-STE-0928 Steel hot-rolled coil index, differential to No1 busheling Chicago, fob mill […]
Due to the Eid -Al-Adha public holiday, which began on Thursday June 5 and will run through to Monday June 9 inclusive, these prices will be published instead on Tuesday June 10, in accordance with Fastmarkets’ policy. These prices are usually published weekly on Mondays. This change was not initially noted on Fastmarkets’ 2025 pricing […]