Platts proposes launching new alumina Atlantic differential from Feb 27

S&P Global Platts is proposing to launch a new weekly alumina Atlantic differential assessment effective February 27, 2020.

This new assessment would represent the discount/premium (differential) for alumina in the Atlantic basin over the benchmark Platts Alumina FOB Australia assessment (MMWAU00).

The differential assessment would be published on a FOB Brazil basis in USD per metric ton, but may reflect material from other countries in the region, normalized to an FOB Brazil basis.

The Atlantic region has seen an increase in price volatility in recent years, with most cargoes traded at a differential to the FOB Australia.

The assessment would be published on Thursdays based on the latest information sourced from the market up until 4:30 pm UK time.

Following extensive engagement on market convention and practice, Platts is proposing these specifications for the assessment:

INCOTERMS AND LOCATION: FOB Brazil (normalized to Vila do Conde and Sao Luis)

CARGO SPECIFICATIONS: Smelter grade alumina

PRICE BASIS: Differential to Platts daily FOB Australia assessment, in USD/mt

CARGO SIZE: The assessment will reflect 30,000mt and 35,000 mt (+/- 5% at the buyer's option)

ASSESSMENT PERIOD: The assessment will reflect cargoes loading 14-60 days from the date of publication.

PAYMENT TERMS: Payment 30 days from the date of Bill of Lading, or 30 days Letter of Credit (LC)

ASSESSMENT TIMESTAMP AND FREQUENCY: 4:30 pm UK time, Thursdays

Information deviating from the parameters listed above (like different cargo sizes, or cargo from different locations) may also be considered for the assessment after normalizing to the standard parameters.

Please send any feedback on the proposal by January 16, 2020 to platts_alumina_moc@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.