Platts proposes to update incoterms for Aluminum in-Warehouse Rotterdam assessments to FCA

Platts, part of S&P Global Energy, proposes to change the incoterms of its P1020 Aluminum in-Warehouse Rotterdam assessments to Free Carrier (FCA), effective Sept. 1.

The proposed change would better reflect trades executed in the spot market for European minimum 99.7% high-grade P1020A aluminum premiums.

According to initial market feedback, most spot trades are conducted on an FCA truck basis. Based on initial market data and feedback, FCA typically holds a $15/mt premium to IW transactions under prevailing market conditions.

Under this proposal, the change in incoterms will impact the Aluminum in-Warehouse Rotterdam assessment (AALVE00) and other Platts assessments that are based on the above assessments. This includes low-carbon aluminum and zero-carbon aluminum premiums and all-in prices, and related weekly, monthly, quarterly and yearly averages.

All other specifications of the assessments would remain unchanged.

Full specifications can be found in the Global Nonferrous Metals guide, available at the following link: https://www.spglobal.com/content/dam/spglobal/ci/en/documents/platts/en/our-methodology/methodology-specifications/metals/nonferrous-specifications.pdf

The Platts European P1020 aluminum premiums assessment are published on pages MTL0421 and PMA0421 of Platts Nonferrous Metals Alert, Platts Metals Daily and Platts Core under the symbols listed above.

Platts invites feedback, comments and questions on this proposal to EMEAMetalsTeam@spglobal.com and PriceGroup@spglobal.com by July 28.

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.