SUBSCRIBER NOTE: Platts to change methodology for US Aluminum Market price

After a period of industry feedback and review, Platts will increase the frequency and change the methodology for its all-in US Aluminum Market price assessment for P1020A (symbol MMAAE00), effective May 1, 2014. The Platts US Aluminum Market price assessment was launched in 1972 as an alternative to producer list pricing, and is a weekly range reflecting the all-inclusive, delivered US Midwest price for P1020A, 99.7% purity high-grade aluminum, for delivery within 30 days, net-30 day payment terms.

The assessment is currently published weekly on Thursdays, and the monthly average uses the low end of each weekly range. Platts will increase this assessment to daily and publish it as a single value instead of a range. The assessment will take into account all P1020 trading data obtained through the Platts daily survey of P1020 activity, giving priority to any spot physical all-in transactions, bids or offers.

In the absence of all-in market information, Platts will collect a wide range of other relevant market data, including, but not limited to, prevailing exchange-traded values plus applicable premiums for delivery to a typical-freight US Midwest aluminum user. These values would take into account exchange cash values at 2 pm US ET, to capture values more closely aligning with the timing of US deals. The assessment will be normalized to delivery in the middle of the Platts typical window of 7-30 days using the prevailing Cash to M3 or month-to-month structure. Other specifications will align with those for the US Transaction premium.

Any further questions or feedback on the proposed methodology change may be directed to Karen McBeth, karen.mcbeth@platts.com, with a cc to PriceGroup@platts.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.