Platts to change CIF China alumina assessment to formula basis from July 1

Following market feedback, Platts, part of S&P Global Commodity Insights, will move its 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.

The move to a formula calculation was initially proposed May 13 in a subscriber note available here: https://www.spglobal.com/commodityinsights/en/our-methodology/subscriber-notes/051322-platts-proposes-to-change-alumina-cif-china-assessment-to-formula-basis

In recent years, Platts has observed that the volume of seaborne spot alumina delivered to China has fallen significantly and the majority of information and data points received from the market have been quoted on an FOB basis instead of a 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 affected by this change 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.

Please send all comments and questions to platts_alumina_moc@spglobal.com and pricegroup@spglobal.com.

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Platts will consider all comments received and will make comments not marked as confidential available upon request.