Platts to change payment terms of CIF Brazil P1020 aluminum assessment

Following an extended period of market consultation, S&P Global Platts has decided to change the payment terms of the CIF Brazil P1020 aluminum assessment to cash against documents, effective August 28, 2020, from the current net-30 day payment.

Having consulted with the market widely through an initial research and a formal consultation period, Platts found consistent feedback from market participants confirming the standard practice for payment terms.

The proposal was originally published on July 9 in a subscriber note which can be found here: https://www.spglobal.com/platts/en/our-methodology/subscriber-notes/070920-platts-proposes-to-change-payment-terms-of-cif-brazil-p1020-aluminum-assessment

Platts has observed that the majority of product supplied on CIF Brazil basis requires cash payment against documents on arrival or up to 7 days prior to the arrival at the discharge port.

The change will apply to the following assessment:

Description: Aluminum CIF Brazil premium duty-unpaid Weekly

Weekly code: MMABP04

Monthly average: MMABP03

Yearly average: MMABP16

The assessment is published in the Metals Daily, Platts Market center and in the Platts price database.

Platts continues to welcome suggestions on any aspect of its aluminum market reporting, in the US and globally. Please send all further feedback, comments and questions to PL_Americas_Metals @spglobal.com and pricegroup@spglobal.com. 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.