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The current methodology states that the premiums are on top of the London Metal Exchange cash price. Fastmarkets proposes to amend this to clarify that, in addition to the LME, its premiums can be used with underlying futures aluminium prices on the Chicago Mercantile Exchange. The choice is down to industry market participants.
The specifications behind Fastmarkets’ aluminium premiums are aligned with those of either exchange.
The premiums the change relates to are as follows:
The consultation will run for four weeks, beginning on Tuesday March 7 and ending on Tuesday April 4. Subject to market feedback, the update will be effective from Tuesday April 11, 2023.
To provide feedback, or if you would like to provide price information by becoming a data submitter to this price assessment, please contact Alice Mason by email at pricing@fastmarkets.com. Please add the subject heading “FAO Alice Mason, re Aluminium P1020A methodology.”
To see all Fastmarkets’ pricing methodology and specification documents, go to https://www.fastmarkets.com/about-us/methodology.