Platts to launch Atlantic alumina differential assessment from March 26

Following market consultation, S&P Global Platts has decided to launch a new weekly Atlantic alumina differential assessment effective March 26, 2020.

The new assessment will represent the discount/premium (differential) for alumina in the Atlantic basin to the benchmark Platts Alumina FOB Australia daily assessment (MMWAU00).

The differential assessment will be basis FOB Brazil in USD per metric ton. Material from other countries in the region may be normalized to FOB Brazil.

The assessment will be published Thursdays, based on the latest information sourced from the market up until 5:30 pm Singapore time (0930 GMT).

Following extensive engagement on market convention and practice, Platts will adopt these specifications for the assessment:

INCOTERMS AND LOCATION: FOB Brazil (normalized to Vila do Conde and Sao Luis)

CARGO SPECIFICATIONS: Smelter grade alumina

PRICE BASIS: Differential to Platts daily FOB Australia assessment, in USD/mt

CARGO SIZE: The assessment will reflect 30,000 mt and 35,000 mt (+/- 5% at the buyer's option)

ASSESSMENT PERIOD: The assessment will reflect cargoes loading 14-60 days from the date of publication.

PAYMENT TERMS: Payment 30 days from the date of Bill of Lading, or 30 days Letter of Credit

ASSESSMENT TIMESTAMP AND FREQUENCY: 5:30 pm Singapore time, Thursdays

Information deviating from the parameters listed above (e.g. different cargo sizes, or cargo from different locations) may also be considered for the assessment after normalizing to the standard parameters.

Please send all feedback, queries and comments to platts_alumina_moc@spglobal.com and pricegroup@spglobal.com.

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.