Metals & Mining Theme, Non-Ferrous

February 11, 2025

Platts proposes new daily CIF duty-unpaid Mexico primary aluminum assessments

Platts, part of S&P Global Commodity Insights, is proposing the launch of new daily CIF duty-unpaid primary aluminum price assessments for Mexico, effective March 3, 2025.

The assessments would include a premium or discount to the daily LME cash settlement price for spot physical P1020A aluminum imported to Mexico via the Port of Veracruz, as well as a calculated all-in price -- both in US dollars/mt -- reflecting a combination of the assessed premium and LME cash settlement price.

The proposed launch is in response to market requests for increased price transparency for aluminum imports into Mexico.

The assessments would complement Platts' longstanding suite of primary aluminum and scrap assessments in the US, Mexico and Brazil.

Specifications for the proposed assessments and associated cents/lb conversions are as follows:

Assessment Frequency Quality Quantity Incoterms Location Timing Payment terms UOM
CIF Mexico Aluminum Premium Daily Min 99.7% high-grade P1020A 500-2,000 mt CIF, duty-unpaid, excl VAT Port of Veracruz Delivery within 30-60 days Cash against documents $/mt
CIF Mexico Aluminum (All-in) Daily Min 99.7% high-grade P1020A 500-2,000 mt CIF, duty-unpaid, excl VAT Port of Veracruz Delivery within 30-60 days Cash against documents $/mt
CIF Mexico Aluminum Premium cts/lb Calculated daily Min 99.7% high-grade P1020A 500-2,000 mt CIF, duty-unpaid, excl VAT Port of Veracruz Delivery within 30-60 days Cash against documents cts/lb
CIF Mexico Aluminum cts/lb (All-in) Calculated daily Min 99.7% high-grade P1020A 500-2,000 mt CIF, duty-unpaid, excl VAT Port of Veracruz Delivery within 30-60 days Cash against documents cts/lb

The premiums would follow a Mexico holiday calendar, while the all-ins would be published on days that are publishing days in Mexico and the UK.

Platts would additionally publish monthly averages of the daily price assessments and all-ins in $/mt and cents/lb.

Platts spot price assessments consider market information reported to Platts and published throughout the day, including firm bids and offers, transactions and indications, as well as any other data deemed relevant to the assessment process. Market information received before the 4:30 pm US Eastern assessment time stamp would be considered for the daily assessments.

A full description of Platts' assessment methodology can be found here.

Platts invites feedback, comments, and questions on this proposal to LatAmMetalsteam@spglobal.com and pricegroup@spglobal.com by Feb. 18.

For written comments, please provide a clear indication if comments are not intended for publication by Platts for public viewing. Platts will consider all comments received and will make comments not marked as confidential available upon request.