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Platts to maintain implied duty-unpaid US Midwest aluminum value calculation

Following an extended period of market consultation, S&P Global Platts confirms it will continue to calculate its implied duty-unpaid US Midwest aluminum P1020 value using current methodology.

Having consulted with the market widely, Platts found broad support for the existing basis for calculating its Aluminum P1020 MW US Transaction Premium (Implied Duty-Unpaid) delivered US Midwest value. This value was introduced by Platts in August 2018, shortly after tariffs were introduced for aluminum imported into the US.

The calculation provides a simple and transparent reference for the market value, minus duty.

Given the volatile nature of all commodity markets, many expressions of value – including those that rely on calculated and implied values, such as the DUP – may become negative from time to time. That has happened on occasions in the benchmark, duty-paid Midwest Aluminum market in the past, and may occur with the calculated, implied DUP in the future.

Platts will continue to monitor the calculation method that underlies the DUP value, given that Canada is currently exempt from duty.

This formal market consultation is now concluded. The consultation notice itself can be found here: www.spglobal.com

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.