Platts proposes European aluminum assessments to not include CBAM costs

Platts, part of S&P Global Commodity Insights, proposes that its European duty-paid P1020 and delivered duty-paid (DDP) billet premium assessments will not include the costs associated with the EU's Carbon Border Adjustment Mechanism (CBAM) from January 2026.

In practice, this would mean that European aluminum premiums assessed on a duty-paid basis would remain inclusive of import duties but be exclusive of any costs associated with CBAM regulation.

CBAM requires importers of primary aluminum and billet into the EU to purchase CBAM certificates for any imports from Jan. 1, 2026.

The proposal for Platts premiums to be exclusive of CBAM costs follows market feedback that 2026 contracts are being negotiated with the CBAM costs kept separate from the aluminum product premium itself.

The assessments that would be impacted by this proposal include:

Under this proposal, Platts assessments that leverage the above assessments in their calculation would in turn be exclusive of CBAM costs. This would include low-carbon aluminum and billet, zero-carbon aluminum, currency conversions and related weekly, monthly, quarterly and yearly averages.

Platts has separately proposed to launch calculated CBAM values for Duty Paid European aluminum as an additional market reference. More details on this can be found here .

Platts also clarifies that European aluminum assessments published on a Duty Unpaid basis will be exclusive of CBAM costs by nature of the incoterm.

Platts invites feedback, comments, and questions on this proposal to EMEAMetalsTeam@spglobal.com and pricegroup@spglobal.com by Aug. 8, 2025.

For written comments, please provide a clear indication if the 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.