Metals & Mining Theme, Non-Ferrous

February 25, 2025

Platts to launch new daily CIF duty-unpaid Mexico primary aluminum assessments

HIGHLIGHTS

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Platts, part of S&P Global Commodity Insights, will begin publishing new daily CIF duty-unpaid primary aluminum price assessments for Mexico, effective March 3, 2025.

The assessments will 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 upcoming launch responds to market requests for increased price transparency for aluminum imports into Mexico.

Platts first proposed the new assessments and associated cents/lb conversions Feb. 11 in a subscriber note available here: https://www.spglobal.com/commodity-insights/en/pricing-benchmarks/our-methodology/subscriber-notes/021125-platts-proposes-new-daily-cif-duty-unpaid-mexico-primary-aluminum-assessments.

After a period of industry feedback, Platts has updated volume specifications to 100-2,000 mt from the 500-2,000 mt range initially proposed. Payment terms have also been updated to net-30 days from cash against documents.

Assessment specifications will be as follows:

Assessment Symbol Frequency Quality Quantity Incoterms Location Timing Payment terms
CIF Mexico P1020 Aluminum Premium $/mt MMPTA00 (Monthly average MMPTA03) Daily Min 99.7% high-grade P1020A 100-2,000 mt CIF, duty-unpaid, excl VAT Port of Veracruz Delivery within 30-60 days Net-30 days
CIF Mexico P1020 Aluminum (All-in) $/mt MMPTC00 (Monthly average MMPTC03) Daily Min 99.7% high-grade P1020A 100-2,000 mt CIF, duty-unpaid, excl VAT Port of Veracruz Delivery within 30-60 days Net-30 days
CIF Mexico P1020 Aluminum Premium cts/lb MMPTB00 (Monthly average MMPTB03) Calculated daily Min 99.7% high-grade P1020A 100-2,000 mt CIF, duty-unpaid, excl VAT Port of Veracruz Delivery within 30-60 days Net-30 days
CIF Mexico P1020 Aluminum (All-in) cts/lb MMPTD00 (Monthly average MMPTD03) Calculated daily Min 99.7% high-grade P1020A 100-2,000 mt CIF, duty-unpaid, excl VAT Port of Veracruz Delivery within 30-60 days Net-30 days

Platts may consider spot price information for seaborne imports into other nearby ports that meet the stated specifications by normalizing to a CIF Veracruz basis. Platts may also consider and normalize data that differs from the specifications stated above using price differentials prevailing in the spot market.

Freight rate, differential and adjustment information reported by market participants will be published as real-time headlines, or heards, for wider market testing.

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

Market information received before the 4:30 pm US Eastern assessment time stamp will be considered for the daily assessments.

Platts will additionally publish monthly averages of the daily price assessments and all-ins in $/mt and cents/lb on the last business day of the month.

Please send feedback, comments and questions to LatAmMetalsteam@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.