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

Following market feedback, Platts, part of S&P Global Commodity Insights, has moved its Alumina CIF China assessment (MMALZ00) to a formula basis using FOB Australia Alumina (MMWAU00) plus Dry Bulk Freight Alumina Bunbury/Kwinana-Lianyungang 30,000 mt Handysize (MMACH00), effective July 1, 2022.

The Alumina CIF China price was previously assessed based on CIF China market information and data points.

Platts originally published the proposal and decision notes on May 13 and June 1, which can be found in the links below:

Platts proposes to change Alumina CIF China assessment to formula basis | S&P Global Commodity Insights (spglobal.com)

Platts to change CIF China alumina assessment to formula basis from July 1 | S&P Global Commodity Insights (spglobal.com)

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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