Proposal to amend minimum tonnage specification for aluminium P1020A (MJP) spot Premium, cif Japan: pricing notice

Based on preliminary market feedback, market participants noted that smaller-sized spot market transactions may be skewed and not reflective of the wider market.

The aluminium P1020A(MJP), cif Japan, assessment specification which has a minimum tonnage of 100 tonnes will be amended to 500 tonnes after the proposed change.

The proposed new specifications are as follows, with changes in italics:

MB-AL-0343 Aluminium P1020A (MJP) spot premium, cif Japan, $/tonne
Quality: P1020A or 99.7 % Minimum Al purity (Si 0.10% max, Fe 0.20% max) in line with LME specifications. Ingot, T-bar, sow
Quantity: Min 500 tonnes
Location: cif in main Japanese ports at Yokohama, Nagoya and Osaka, premium on top of exchange-listed aluminium price
Timing: Within two calendar months
Unit: USD/tonne
Payment terms: Cash against documents (2 days after Bill of lading date)
Publication: Daily. 6-7pm Singapore time

This price is a part of the Fastmarkets base metals package.

The publication time had been changed from “Daily by 4pm London time” to “Daily. 6-7pm Singapore time” in accordance with the decision to amend publication and holiday pricing schedule for Asian base metals assessments, which will take effect on Thursday May 21.

The consultation period for this proposed amendment starts on Monday May 18 and will end on Wednesday June 17, with changes taking place. The amendment will then take place, subject to market feedback, on Thursday June 25.

Please send any questions or comments by June 17 to pricing@fastmarkets.com and basemetals@fastmarkets.com. Please indicate if comments are confidential. Fastmarkets will consider all comments received and will make comments not marked as confidential available upon request.

To see all Fastmarkets pricing methodology and specification documents, go to the Fastmarkets Methodology page.