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The assessment will consider material comprising old aluminium sheet that has been shredded and sorted magnetically and by X-ray, with all attachments removed. Paint, coatings and traces of impurities will be permitted.
The unit of the assessment will be the payable percentage of the LME aluminium price. Typical market practice is for the payable to be applied to whichever is lower of the LME cash settlement and the three-month price.
The specifications of the new price assessment are proposed as follows:
Aluminium scrap, old sheet (Taint/Tabor), shredded and sorted, delivered consumer Europe, % of LMEQuality: Shredded old aluminium sheet that has been sorted magnetically (by eddy current) and by X-ray. No attachments. Trace impurities, paint and coatings permitted.Quantity: minimum 25 tonnesLocation: Delivered consumer works, EuropeTiming: Within 4 weeksUnit: % of LMEPayments terms: 30 days, other payment terms normalizedPublication: Weekly, Fridays, 4pm UKNotes: Typical market practice is that the final price is derived by applying the payable % to a future, unknown LME value, usually on a date within the month of delivery, buyer’s choice, and whichever is lower between the cash and three-month price.
This price will be part of the Fastmarkets scrap package.
The consultation period for this proposed launch start on Wednesday October 29 and will end on November 26. The launch will take place, subject to market feedback, on November 28.
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 pricing@fastmarkets.com and metalsrecycling@fastmarkets.com. Please add the subject heading “re: aluminium scrap Europe.”
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.