S&P Global Platts has launched a new daily spot price assessment reflecting P1020 aluminum trading on a CIF New Orleans basis, effective February 1, 2018.
The assessment reflects the premium or discount, in dollars/mt, to the LME price for P1020 grade aluminum on a CIF New Orleans basis, free out, duty-unpaid, taking into account breakbulk cargoes, in spot cargo sizes of 1,000 mt to 30,000 mt, normalized to 10,000 mt for price assessment purposes, for arrival 30-60 days from assessment date, payment terms cash against documents (CAD).
This follows a subscriber note seeking feedback on this topic published November 28.
The CIF New Orleans assessment considers market inputs on a CIF Mobile or CIF Houston basis for normalization to CIF New Orleans basis. S&P Global Platts is also publishing a cents/lb conversion and a derived NOLA to the Midwest Transaction Premium (MMAKE00) differential.
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