Platts proposes to change Alumina CIF China assessment to formula basis

Platts, part of S&P Global Commodity Insights, is proposing to move its existing Alumina CIF China assessment (MMALZ00) to a formula basis using FOB Australia Alumina (MMWAU00) plus Dry Bulk Freight Alumina Bunbury/Kwinana-Lianyungang 30kt Handysize (MMACH00), effective July 1, 2022.

The Alumina CIF China price is currently assessed based on CIF China market information and data points.

In recent years, Platts has observed that seaborne spot alumina delivered to China has lowered significantly and the majority of information and data points received from the market have been quoted on an FOB basis instead of CIF basis. From 2019 to March 2022, more than 95% of the data points received and published by Platts have been on an FOB Australia basis.

Platts assesses Alumina CIF China (MMALZ00) in $/mt, and also publishes the price in Yuan/mt (MMACA00), based on a daily currency conversion rate.

The assessments that would be affected by this proposal are published on Platts Nonferrous Metals Alert fixed pages MTL0005, MTL0650, MTL0678, in Platts Metals Daily, on Platts Dimensions Pro, Platts Market Center, and in the Platts price database under the codes listed below.

Platts invites feedback on this proposal to platts_alumina_moc@spglobal.com and pricegroup@spglobal.com by May 31, 2022.

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.