Metals & Mining Theme, Non-Ferrous

February 14, 2025

Platts proposes to use same-day LME data in Japan aluminum all-in calculations, revisit publishing schedule

HIGHLIGHTS

Proposed change would apply to CIF Japan, Japan domestic aluminum all-in calculations

Publishing schedule for CIF Japan aluminum premium assessments would be unchanged

Platts, part of S&P Global Commodity Insights, is proposing to use London Metal Exchange (LME) prices of the same day to calculate its CIF Japan aluminum fixed price equivalent (All-in) series, effective April 1.

The all-in prices currently add premiums or discounts assessed by Platts to underlying LME settlements of the previous day. The change to using same-day LME prices would ensure that the all-in calculations reflect the most current market values.

The proposed change would also fully align the publication of Japan aluminum all-ins with the Singapore and UK holiday schedules, ensuring that the all-in calculations are consistently published on days that are working days in both Singapore and the UK. Platts had previously announced that its Japan aluminum premiums align with the Singapore holiday schedule while the all-ins follow the Singapore calendar for the premiums and the UK calendar for the LME component. In practice, the use of previous-day LME data in the all-in calculations from January 2023 onwards means that on days following a UK holiday, the all-in calculations do not currently update due to the absence of LME settlements for the day prior while being available on some UK holidays.

The daily Platts CIF Japan Spot Premium (MMANA00) and CIF Japan Forward Quarter Premium (AAFGA00), used in the calculation of the all-in prices, would continue to be published based on the Singapore holiday calendar.

The monthly averages of the all-in prices would be calculated based only on the days when all-in values are published.

The following all-in prices would be impacted:

DESCRIPTION SYMBOL MONTHLY AVERAGE WEEKLY AVERAGE
CIF Japan Fixed Price Equivalent (All-in) MMJAL00 MMJAL03
CIF Japan Quarter Fixed Price Equivalent (All-in) MMJAQ00 MMJAQ03
Alum Japan First Mo Ex-whse MMALU00 MMALU04
Alum Japan Sec Mo Ex-whse MMALX00 MMALX04
Aluminum Jpn InWhse Mo 3 Yen/Kg MMAJW30
Aluminum Jpn InWhse Mo 4 Yen/Kg MMAJW40

Platts updates its Pricing Holiday Schedule on the following webpage: Holiday Publication Schedule | S&P Global(opens in a new tab)

Platts CIF Japan aluminum assessments are published in Metals Daily, Metals Weekly, on Platts Metals Alert on fixed pages PMA/MTL0107, PMA/MTL0108, PMA/MTL0419 and PMA/MTL0650 and in the Platts price database.

Platts invites feedback, comments and questions on this proposal to platts_mjp_moc@spglobal.com and pricegroup@spglobal.com by Feb. 28.

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 to the public upon request.