Platts proposes to launch US Aluminum Midwest Premium forward curve

Platts, part of S&P Global Energy, is proposing to launch a daily forward curve reflecting assessments of P1020 aluminum financial derivatives settling against the Platts Aluminum P1020 Transaction Premium delivered US Midwest benchmark (MMAKE00), effective Jan. 2, 2026.

New derivative assessments for Months 1-5

Platts is proposing to publish new daily derivative assessments for Month 1, Month 2, Month 3, Month 4 and Month 5, and related monthly averages. Platts is also proposing to amend the existing six-month premium assessment (MMANJ04) to reflect a daily derivative assessment for Month 6, from the current weekly (Thursday) cadence.

Proposed changes to existing Month 6 assessment

• Frequency: The six-month premium assessment would be amended to a daily assessment from a weekly Thursday assessment
• Description: It would be renamed to Aluminum Midwest Premium Forward Curve (Month 6) from Aluminum six-month P1020 Ingot (Premium)
• The quantity specification would reflect a standard lot size of 25 mt

The proposed US Midwest Premium derivatives assessments would be based on bids, offers, or trades seen during the Platts Market on the Close assessment process. In the absence of any bids, offers or trades in the MOC, information from derivative exchanges, brokers or heard in over-the-counter markets may be taken into consideration.

Full specifications of the proposed Midwest Premium forward curve assessments would be as follows:

Heards reflecting forward curve bids, offers and trades would be reported in real-time throughout the day on Platts electronic information service, Platts Metals Alert (PMA), along with other relevant market information, including information published used to inform the physical assessment of Platts Midwest Transaction Premium (MMAKE00).

The forward premium assessments, as well as related monthly averages and $/mt conversions, would appear in Metals Daily and Metals Week, on the PMA413 and MTL413 fixed pages, and in the Platts pricing database.

The assessments would follow a London/LME holiday calendar and reflect a 4 pm US ET timestamp.

Platts invites feedback, comments and questions on this proposal to metalsamericas@spglobal.com and pricegroup@spglobal.com by Dec. 4.

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.