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Price notice: Aluminium cif premium launched

Sep 13, 2018 | 04:24 PM |

Tags  Pricing notice, Cif, aluminium, P1020, premium, Kirk Maltais


American Metal Market on Tuesday September 11 published its first weekly price assessment for the US cost insurance and freight (cif) premium for aluminium sent to the port of Baltimore. 

Following the consultation period, American Metal Market has determined that its proposal to launch the cif Baltimore premium would be a useful and necessary addition to Metal Bulletin Group’s aluminium premium suite. Feedback received suggests that there is a need for an accurate assessment of the US aluminium cif premium, which this offering can fill.

In addition, American Metal Market will begin publishing an all-in price using the new cif Baltimore assessment, and will also rename the P1020 Midwest aluminium premium the "aluminium P1020 duty-paid premium delivered Midwest cents/lb" or "aluminium P1020 Midwest duty-paid premium."

Below are the specifications of both the new aluminium cif premium and the cif all-in free-market price:

Aluminium P1020 cif Baltimore ports premium:
Type: Assessed range
Frequency: Once weekly
Basis: Shipped to ports in Baltimore, Maryland, premium on top of London Metal Exchange cash prices, net back to Baltimore
Grade: P1020A or 99.7% minimum aluminium purity (silicon 0.10% maximum, iron 0.20% maximum)
Currency: US cents
Unit: Per lb
Minimum lot size: 100 tonnes
Payment terms: 30 days, other payment terms normalized
Form: Ingot

Aluminium P1020 cif all-in free-market price:
Type: Calculated
Frequency: Daily
Formula: London Metal Exchange cash aluminium PM bid price plus American Metal Market's P1020 premium cif Baltimore, Maryland, ports
Basis: Delivered consumer works Midwest US, premium on top of LME cash prices, net back to Baltimore
Grade: LME specification P1020A or 99.7% minimum aluminium purity (silicon 0.10% maximum, iron 0.20% maximum, zinc 0.03% maximum, gallium 0.04% maximum, vanadium 0.03% maximum)
Currency: US cents
Unit: Per lb
Minimum lot size: 100 tonnes
Payment terms: 30 days, other payment terms normalized
Delivery window: Within four weeks
Form: Ingot

To provide feedback on these changes or if you would like to provide price information by becoming a data submitter to these prices, please contact aluminium reporter Kirk Maltais by email at: pricing@metalbulletin.com. Please add the subject heading FAO: Kirk Maltais, re: cif Baltimore aluminium premium.

To see all of American Metal Market’s pricing methodology and specification documents, click here.

American Metal Market has no financial interest in the level or direction of the assessment.



 

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