Platts uses same-day LME data in Japan aluminum all-in calculations, aligns publishing schedule

Platts, part of S&P Global Commodity Insights, has started using 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 previously added premiums or discounts assessed by Platts to underlying LME settlements of the previous day. The change to using same-day LME prices ensures that the all-in calculations reflect the most current market values.

The change also fully aligns 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 to 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 onward meant that on days following a UK holiday, the all-in calculations did not 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, continue to be published based on the Singapore holiday calendar.

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

The following all-in prices are impacted:

Platts updates its Pricing Holiday Schedule on the following webpage: https://www.spglobal.com/commodity-insights/en/pricing-benchmarks/our-methodology/holiday(opens in a new tab).

Platts initially proposed the changes in a published subscriber note(opens in a new tab) on Feb. 14. Following market feedback, Platts communicated its decision to effect the changes(opens in a new tab) on March 3.

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.

Please send feedback, comments, and questions to platts_mjp_moc@spglobal.com and pricegroup@spglobal.com.

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