The move to daily publication will allow Fastmarkets to better capture fluctuations in the market and provide greater clarity.
The proposed new specifications are listed below, with the proposed amendment of price frequency 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 100 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 by 4pm London time
Notes: Excluding metal from LME warehouses and metal subject to international sanctions. Assessed by Fastmarkets’ Singapore Office
The assessment is a part of the Fastmarkets base metals package.
The consultation period for this proposed amendment starts from Monday July 1 and will end one month from the date of this pricing notice, on Wednesday July 31. The amendment will then take place, subject to market feedback, on Wednesday August 7.
To provide feedback or if you would like to provide price information by becoming a data submitter to this price assessment, please contact Chay Chye Leng by email at pricing@fastmarkets.com. Please add the subject heading “FAO: Chay Chye Leng re: Aluminium MJP spot methodology.”
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 https://www.fastmarkets.com/about-us/methodology.
