PRICING NOTICE: Update on Fastmarkets’ aluminium premiums following Rusal sanction removal

Fastmarkets will again accept Rusal material produced after April 6, 2018, in its aluminium price assessments following the US Department of the Treasury’s Office of Foreign Assets Control (OFAC) decision to remove sanctions imposed on UC Rusal.

The US sanctions on Rusal were removed on Sunday January 27, 2019, having been imposed on April 6, 2018.

Transactions, bids and offers in the United States, Japan and Europe for Rusal’s aluminium ingots and t-bars and products produced both before and after April 6 will now be taken into consideration during the price assessment process.

This includes Fastmarkets’ benchmark P1020 premiums in Rotterdam, Italy, the US Midwest and main Japanese ports (MJP) as well as the billet and primary foundry alloy premiums.

Following the US sanctions being imposed on Rusal in April, Fastmarkets followed guidance provided by OFAC and the London Metal Exchange and all data for Rusal’s aluminium ingots and products produced after April 6 was discarded during the price assessment process.

The LME introduced a “temporary conditional suspension” on placing Rusal metal on-warrant in response to the sanctions. This suspension has now been removed allowing the warranting of Rusal dated before and after April 6, 2018, to resume.

The LME notice released on January 28 also said its members are now free to enter into contracts with Rusal.

Fastmarkets reserves the right, as per its methodology, to discard any pricing data that it views as non-reflective of the spot market.

To see all Fastmarkets’ pricing methodology and specification documents go

What to read next
The publication of Fastmarkets’ US rebar prices took place earlier than scheduled on Wednesday March 22 due to a reviewer error.
Fastmarkets proposes to amend the frequency of its P1020A aluminium import premium assessment in Brazil to monthly, from fortnightly.
Prices for cobalt metal have witnessed a sustained rally and recovery in recent weeks, after hitting lows at the beginning of the year, even while market participants see challenging conditions on the supply side in the longer term
Glencore’s Gary Nagle might have spoken too soon when he said that his company wouldn’t be hit by a nickel fraud similar to that seen by its rival, Trafigura
Fastmarkets proposes to amend its steel cut-to-length plate carbon grade, fob mill US assessment to exclude material below 0.375 inches of thickness, which is sold with an added cost by several major mills.
The European Union’s much-anticipated Critical Raw Materials Act, announced on Thursday March 16 by European Commission president Ursula von der Leyen, has set out new lists of the raw materials now formally designated as strategic and critical
We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.