Specifications Guide Global Nonferrous Metals
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Specifications Guide Global Nonferrous Metals Latest update: July 2022 Definitions of the trading locations for which Platts publishes indexes or assessments 2 Aluminum Chain 3 Base metals 16 Battery metals 22 Light/Minor Metals 25 Precious Metals 27 Revision history 28 www.spglobal.com/commodityinsights
Specifications Guide Global Nonferrous Metals: July 2022 DEFINITIONS OF THE TRADING LOCATIONS FOR WHICH PLATTS PUBLISHES INDEXES OR ASSESSMENTS The following specifications guide contains the primary specifications for S&P Global Commodity Insights’ Platts nonferrous metals assessments throughout the world. All assessments listed here employ Platts Assessments Methodology, as published at https://www.spglobal.com/commodityinsights/plattscontent/_assets/_files/en/our-methodology/methodology-specifications/platts-assessments- methodology-guide.pdf. These guides are designed to give Platts subscribers as much information as possible about a wide range of methodology and specification questions. This guide is current at the time of publication. Platts may issue further updates and enhancements to this guide and will announce these to subscribers through its usual publications of record. Such updates will be included in the next version of this guide. Platts editorial staff and managers are available to provide guidance when assessment issues require clarification. Platts nonferrous metals price assessments are timestamped; the time and location are noted below unless otherwise stated in the specification: Asia: 4:30 pm Singapore time Asia alumina: 5:30 pm Singapore time US: 4:30 pm US Eastern time US aluminum: 4:00 pm US Eastern time Mexico: 4:30 pm US Eastern time Brazil: 4:00 pm Brazil time Europe: 4:30 pm London time More information on the Platts price assessment publication schedule can be found here: Pricing Holiday Schedule | S&P Global Commodity Insights (spglobal.com). © 2022 by S&P Global Inc. All rights reserved. 2
Specifications Guide Global Nonferrous Metals: July 2022
ALUMINUM CHAIN
Assessment Code Mavg Wavg Qavg Yavg Type Published Page Quality Quantity Dimensions Incoterms Location Timing Payment UOM
Alumina
Alumina FOB Australia MMWAU00 MMWAU03 MMWAU04 MMWAU16 Assessment Daily PMA05 Sandy calcined Metallurgical / Smelter 30,000 mt and max 12% -45 FOB Kwinana, Shipment 14-60 LC 30 $/mt
Grade Alumina (SGA) 35,000 mt bulk microns, min 88% Bunbury days days, BL
+45 microns 30 days
Alumina FOB Brazil MMWAD04 MMWAD03 MMWAD16 Assessment Thursday PMA05 Sandy calcined Metallurgical / Smelter 30,000 mt and max 12% -45 FOB Vila do Conde, Shipment 14-60 LC 30 $/mt
differential to FOB Grade Alumina (SGA) 35,000 mt microns, min 88% Sao Luis days days, BL
Australia +45 microns 30 days
Alumina Ex-Works China MMXCY00 MMXCY03 MMXCY04 Assessment Daily PMA05 Smelter Grade Alumina, which meets the Min 1,000 mt Bags of 1.5 mt each.Ex-works Shanxi Loading within 7 Cash Yuan/mt
Yuan/mt latest Chinese official industrial standard days
under code GB/T24487-2009. Aluminum
Oxide (Al2O3) content of minimum 98.4%.
Alumina Ex-Works China MMXWC00 MMXWC03 MMXWC04 MMXWC16 Calculation Daily PMA05 Smelter Grade Alumina, which meets the Min 1,000 mt Bags of 1.5 mt each.Ex-works Shanxi Loading within 7 Cash $/mt
latest Chinese official industrial standard days
under code GB/T24487-2009. Aluminum
Oxide (Al2O3) content of minimum 98.4%.
Alumina CIF China MMALZ00 MMALZ03 MMALZ04 MMALZ16 Calculation Daily PMA05 Sandy calcined Metallurgical / Smelter 30,000 mt and max 12% -45 CIF Lianyungang Shipment 14-60 LC 30 $/mt
Grade Alumina (SGA) 35,000 mt bulk microns, min 88% days days, BL
+45 microns 30 days
Alumina CIF China Yuan/mtMMACA00 MMACA03 Calculation Daily PMA05 Sandy calcined Metallurgical / Smelter 30,000 mt and max 12% -45 CIF Lianyungang Shipment 14-60 LC 30 Yuan/mt
Grade Alumina (SGA) 35,000 mt bulk microns, min 88% days days, BL
+45 microns 30 days
Calcined Petcoke
Calcined Pet Coke FOB MMXEV00 Assessment Monthly PMA054 Anode-grade calcined petroleum coke 10,000 mt to NA FOB US Gulf ports 30-60 days Net 30-60 $/mt
US Gulf Coast 15,000 mt forward after B/L
ALUMINUM
US
Aluminum US Market MMAAE00 MMAAE03 MMAAE04 MMAAE16 Assessment Daily PMA0413 Min 99.7% high-grade aluminum min full 45,000 ingot,low-profile DDP Midwest within 7-30 days Net 30 Cents/lb
(All-in) P1020A spec lb truckloads, sow or T-bars consumer days
typical 100- works
1,000 mt
US Aluminum MMAKE00 MMAKE03 AADDJ00 MMAKE16 Assessment Daily PMA0413 Daily premium or discount to the LME min full 45,000 ingot, low-profile DDP Midwest within 7-30 days Net 30 Cents/lb
Transaction Premium cash price for spot physical min 99.7% lb truckloads, sow or T-bars consumer days
high-grade aluminum P1020A, LME typical 100- works
spec, min 99.7% Al, max 0.1% Si, 0.2% 1,000 mt
Fe, 0.03% zinc, 0.04% gallium, 0.03%
vanadium
US Alum Transaction MMATP00 MMATP03 MMATP04 Calculation Daily PMA0413 Min 99.7% high-grade P1020A min full 45,000 ingot, low-profile DDP Midwest within 7-30 days Net 30 $/mt
Premium $/mt lb truckloads, sow or T-bars consumer days
(conversion) typical 100- works
1,000 mt
Aluminum US MMAAF10 MMAAF02 MMAAF01 MMAAF16 Assessment Daily PMA0413 Min 99.7% high-grade P1020A min full 45,000 ingot, low-profile DDP Midwest within 7-30 days Net 30 Cents/lb
Transaction (All-in) lb truckloads, sow or T-bars consumer days
typical 100- works
1,000 mt
© 2022 by S&P Global Inc. All rights reserved. 3Specifications Guide Global Nonferrous Metals: July 2022
ALUMINUM CHAIN
Assessment Code Mavg Wavg Qavg Yavg Type Published Page Quality Quantity Dimensions Incoterms Location Timing Payment UOM
US Aluminum Net-Cash MMACN00 MMACN03 MMACN04 MMACN16 Assessment Daily PMA0413 Min 99.7% high-grade P1020A min full 45,000 ingot, low-profile DDP Midwest within 7-30 days Net cash Cents/lb
Premium lb truckloads, sow or T-bars consumer
typical 100- works
1,000 mt
Aluminum P1020 US MMOEU00 MMOEU03 MMOEU04 MMOEU16 Calculation Daily PMA0413 Min 99.7% high-grade P1020A ingot,low-profile Cents/lb
Import Duty cents/lb sow or T-bars
Aluminum P1020 US MMOHU00 MMOHU03 MMOHU04 MMOHU16 Calculation Daily N/A Min 99.7% high-grade P1020A ingot,low-profile $/mt
Import Duty $/mt sow or T-bars
Aluminum P1020 MW MMOFU00 MMOFU03 MMOFU04 MMOFU16 Calculation Daily PMA0413 Min 99.7% high-grade P1020A min full 45,000 ingot,low-profile DDU Midwest within 7-30 days Net 30 Cents/lb
US Transaction Premium lb truckloads, sow or T-bars consumer days
(Implied Duty-Unpaid) typical 100- works
delivered US Midwest 1,000 mt
Aluminum P1020 MW MMOIU00 MMOIU03 MMOIU04 MMOIU16 Calculation Daily N/A Min 99.7% high-grade P1020A min full 45,000 ingot,low-profile DDU Midwest within 7-30 days Net 30 $/mt
US Transaction Premium lb truckloads, sow or T-bars consumer days
(Implied Duty-Unpaid) typical 100- works
delivered US Midwest $/mt 1,000 mt
Aluminum P1020 MMOGU00 MMOGU03 MMOGU04 MMOGU16 Calculation Daily PMA0413 Min 99.7% high-grade P1020A min full 45,000 ingot,low-profile DDU Midwest within 7-30 days Net 30 Cents/lb
Transaction Price (Implied lb truckloads, sow or T-bars consumer days
Duty-Unpaid) delivered US typical 100- works
Midwest 1,000 mt
Aluminum P1020 MMOJU00 MMOJU03 MMOJU04 MMOJU16 Calculation Daily N/A Min 99.7% high-grade P1020A min full 45,000 ingot,low-profile DDU Midwest within 7-30 days Net 30 $/mt
Transaction Price (Implied lb truckloads, sow or T-bars consumer days
Duty-Unpaid) delivered US typical 100- works
Midwest $/mt 1,000 mt
Aluminum US P1020 Duty AFLSB00 Calculation Daily PMA0413 Min 99.7% high-grade P1020A Cents/lb
Freight Factor cents/lb
Aluminum US P1020 Duty AFLSA00 Assessment Daily PMA0413 Min 99.7% high-grade P1020A $/mt
Freight Factor $/mt
Aluminum CIF New MMODU00 MMODU03 MMODU04 MMODU16 Assessment Daily PMA0413 Min 99.7% high-grade P1020A 1,000 mt to ingot, low-profile CIF, free out, New Orleans Arrival 30-60 Cash $/mt
Orleans duty-unpaid 30,000 mt, sow or T-bars duty-unpaid days against
premium normalized to documents
10,000 mt
Aluminum CIF New MMNDU00 MMNDU03 MMNDU04 MMNDU16 Calculation Daily PMA0413 Min 99.7% high-grade P1020A 1,000 mt to ingot, low-profile CIF, free out, New Orleans Arrival 30-60 Cash Cents/lb
Orleans duty-unpaid 30,000 mt, sow or T-bars duty-unpaid days against
premium cents/lb normalized to documents
10,000 mt
Aluminum CIF NOLA-MW MMNOL00 MMNOL03 MMNOL04 MMNOL16 Calculation Daily PMA0413 Min 99.7% high-grade P1020A 1,000 mt to ingot, low-profile CIF, free out, New Orleans Arrival 30-60 Cash Cents/lb
premium differential 30,000 mt, sow or T-bars duty-unpaid days against
cents/lb normalized to documents
10,000 mt
Aluminum 6 Month P1020 MMANJ04 Assessment Thursday PMA0413 Min 99.7% high-grade P1020A Min 25 mt ingot, low-profile Delivered US Midwest 6 months forwardNot Cents/lb
Ingot (Premium) sow or T-bars specified
Aluminum 6063 (Billet) MMAKC00 AAMDO00 AAMDO16 Assessment Thursday PMA0413 US spot upcharge over current P1020A Min truckload 6063 billet, 7-8" Delivered US Midwest within 7-30 days Net 30 Cents/lb
Upcharge transaction price for primary, North diameter days
American General Purpose 6063 billet, to
Aluminum Assn. specifications
© 2022 by S&P Global Inc. All rights reserved. 4Specifications Guide Global Nonferrous Metals: July 2022
ALUMINUM CHAIN
Assessment Code Mavg Wavg Qavg Yavg Type Published Page Quality Quantity Dimensions Incoterms Location Timing Payment UOM
Latin America
Aluminum CIF Brazil MMABP04 MMABP03 MMABP16 Assessment Friday PMA0017 Min 99.7% high-grade P1020A 500-2,000 mt, standard ingot, CIF, duty- Major within 30-60 Cash $/mt
premium duty-unpaid 2,000 mt typical sow and T-bars unpaid, excl Brazilian days against
VAT ports documents
Aluminum Brazil MMABS04 MMABS03 MMABS16 Assessment Friday PMA0017 Min 99.7% high-grade P1020A 25-500 mt, 100 standard ingot, DDP excl VAT Southeast delivery within 30 Net 7 to $/mt
Premium DDP SE Brazil mt typical sow and T-bars Brazil days net 10
days
Aluminum Brazil Market,MMADB04 MMADB03 MMADB16 Calculation Friday PMA0017 Min 99.7% high-grade P1020A 25-500 mt, 100 standard ingot, DDP excl VAT Southeast delivery within 30 Net 7 to $/mt
DDP SE Brazil (All-in) mt typical sow and T-bars Brazil days net 10
days
Europe
Aluminum Good Western AALVE00 AALVH00 AALXJ00 AALVH16 Assessment Daily PMA421 Min 99.7% purity Typical 100- ingot IW Rotterdam Prompt Net 30 $/mt
premium duty paid in- 1,000 mt days
warehouse Rotterdam
Aluminum Good Western AALVI00 AALVK00 AALXK00 AALVK16 Assessment Daily PMA421 Min 99.7% purity Typical 100- ingot IW Rotterdam Prompt Net 30 $/mt
premium duty unpaid in- 1,000 mt days
warehouse Rotterdam
Low-carbon Aluminum Good LALVE00 LALVE03 LALVE04 LALVE16 Assessment Daily PMA421 Min 99.7% purity Typical 100- ingot IW Rotterdam Prompt Net 30 $/mt
Western premium duty paid 1,000 mt days
in-warehouse Rotterdam
Low-carbon Aluminum LALVI00 LALVI03 LALVI04 LALVI16 Assessment Daily PMA421 Min 99.7% purity Typical 100- ingot IW Rotterdam Prompt Net 30 $/mt
Good Western premium 1,000 mt days
duty unpaid in-
warehouse Rotterdam
Zero-carbon Aluminum ZALVE00 ZALVE03 ZALVE04 ZALVE16 Calculation Daily PMA421 Min 99.7% purity Typical 100- ingot IW Rotterdam Prompt Net 30 $/mt
Good Western premium 1,000 mt days
duty paid in-warehouse
Rotterdam
Zero-carbon Aluminum ZALVI00 ZALVI03 ZALVEI04 ZALVEI16 Calculation Daily PMA421 Min 99.7% purity Typical 100- ingot IW Rotterdam Prompt Net 30 $/mt
Good Western premium 1,000 mt days
duty unpaid in-
warehouse Rotterdam
Aluminum Billet DDP ABITA04 ABITA03 ABITA16 Assessment Friday PMA4310 6060/6063 billet Min 50 mt 6060/6063 billet, DDP Italy Within 60 days Net 60 $/mt
Italy 7-8" diameter days
Aluminum Billet DDP ABITB04 ABITB03 ABITA05 ABITB16 Calculation Friday N/A 6060/6063 billet Min 50 mt 6060/6063 billet, DDP Italy Within 60 days Net 60 Eur/mt
Italy 7-8" diameter days
Aluminum Billet DDP ABGEA04 ABGEA03 ABGEA05 ABGEA16 Assessment Friday PMA4310 6060/6063 billet Min 50 mt 6060/6063 billet, DDP Germany Within 60 days Net 30 $/mt
Germany 7-8" diameter days
Aluminum Billet DDP ABGEB04 ABGEB03 ABGEB16 Calculation Friday N/A 6060/6063 billet Min 50 mt 6060/6063 billet, DDP Germany Within 60 days Net 30 Eur/mt
Germany 7-8" diameter days
© 2022 by S&P Global Inc. All rights reserved. 5Specifications Guide Global Nonferrous Metals: July 2022
ALUMINUM CHAIN
Assessment Code Mavg Wavg Qavg Yavg Type Published Page Quality Quantity Dimensions Incoterms Location Timing Payment UOM
Asia
CIF Japan Spot Premium MMANA00 AAMDP00 MMANB04 AAMDP16 Assessment Daily PMA107 P1020A: min 99.7% Al, max 0.1% Si, Min 250 mt 25 kg ingot, sows, CIF Yokohama, Loading 15-60 Cashagainst $/mt
0.2% Fe, 0.03% zinc, 0.04% gallium, T-bars Nagoya, days forward documents
0.03% vanadium Osaka orcash
within3days
ofB/L
CIF Japan Fixed Price MMJAL00 MMJAL03 Calculation Daily PMA419 P1020A: min 99.7% Al, max 0.1% Si, Min 250 mt 25 kg ingot, sows, CIF Yokohama, Loading 15-60 Cashagainst $/mt
Equivalent (All-in) 0.2% Fe, 0.03% zinc, 0.04% gallium, T-bars Nagoya, days forward documents
0.03% vanadium Osaka orcash
within3days
ofB/L
CIF Japan Forward AAFGA00 AAFGB00 AAFGA04 Assessment Daily PMA107 P1020A: min 99.7% Al, max 0.1% Si, Min 500 mt 25 kg ingot, sows, CIF Yokohama, Within calendar Cashagainst $/mt
Quarter Premium 0.2% Fe, 0.03% zinc, 0.04% gallium, T-bars Nagoya, quarter documents
0.03% vanadium Osaka orcash
within3days
ofB/L
CIF Japan Quarter Fixed MMJAQ00 MMJAQ03 Calculation Daily PMA419 P1020A: min 99.7% Al, max 0.1% Si, Min 500 mt 25 kg ingot, sows, CIF Yokohama, Within calendar Cashagainst $/mt
Price Equivalent (All-in) 0.2% Fe, 0.03% zinc, 0.04% gallium, T-bars Nagoya, quarter documents
0.03% vanadium Osaka orcash
within3days
ofB/L
CFR China Import Price MMBAA00 MMBAA03 MMBAA04 Calculation Daily PMA107 P1020A: min 99.7% Al, max 0.1% Si, Not specified Not specified CFR China Spot Not $/mt
(All-in) 0.2% Fe, 0.03% zinc, 0.04% gallium, specified
0.03% vanadium
CFR China Import Price MMBAB00 MMBAB03 Calculation Daily PMA107 P1020A: min 99.7% Al, max 0.1% Si, Not specified Not specified CFR China Spot Not Yuan/mt
(All-in) 0.2% Fe, 0.03% zinc, 0.04% gallium, specified
0.03% vanadium
SCRAP
Assessment Code Mavg Wavg Qavg Yavg Type Published Page Quality Quantity Dimensions Incoterms Location Timing Payment UOM
Latin America
Aluminum Cans Scrap SB01018 Assessment Monday N/A Baled used beverage cans, to meet ISRI 500-2,000 mt NA FOT Southeast 2-4 weeks At sight Real/kg
Brazil Dom Prod FOT “taldon” specification Brazil
Aluminum Castings Brazil SB01020 Assessment Monday N/A New, clean, uncoated and unpainted, low 500-2,000 mt NA FOT Southeast 2-4 weeks At sight Real/kg
Dom Prod FOT copper aluminum scrap of two or more alloys. Brazil
Grease and oil not to total more than 1%
Aluminum Profile SB01022 Assessment Monday N/A New, clean, uncoated aluminum castings, 500-2,000 mt NA FOT Southeast 2-4 weeks At sight Real/kg
Extrusion Brazil Dom forgings, and extrusions of one specified Brazil
Prod FOT alloy only and to be free from sawings,
stainless steel, zinc, iron, dirt, oil, grease
and other non-metallic items
© 2022 by S&P Global Inc. All rights reserved. 6Specifications Guide Global Nonferrous Metals: July 2022
SCRAP
Assessment Code Mavg Wavg Qavg Yavg Type Published Page Quality Quantity Dimensions Incoterms Location Timing Payment UOM
Aluminum old cast AAXXA04 AAXXA03 AAXXA16 Assessment Thursday PMA201 Old cast aluminum scrap with up to 5% Full truckload, NA Delivered Northeast Within 30 days Net 30 Pesos/kg
delivered NE Mexico contamination, min 88% recovery 20 mt Mexico days
pesos/kg
Aluminum old cast AAXUA04 AAXUA03 AAXUA16 Calculation Thursday PMA201 Old cast aluminum scrap with up to 5% Full truckload, NA Delivered Northeast Within 30 days Net 30 Cents/lb
delivered NE Mexico contamination, min 88% recovery 20 mt Mexico days
cents/lb
Aluminum old sheet AAXXB04 AAXXB03 AAXXB16 Assessment Thursday PMA201 Non-cast aluminum scrap items for Full truckload, NA Delivered Northeast Within 30 days Net 30 Pesos/kg
delivered NE Mexico consumption by secondary aluminum 20 mt Mexico days
pesos/kg smelters to meet ISRI “taint/tabor” grade,
containing 2-3% Fe
Aluminum old sheet AAXUB04 AAXUB03 AAXUB16 Calculation Thursday PMA201 Non-cast aluminum scrap items for Full truckload, NA Delivered Northeast Within 30 days Net 30 Cents/lb
delivered NE Mexico consumption by secondary aluminum 20 mt Mexico days
cents/lb smelters to meet ISRI “taint/tabor” grade,
containing 2-3% Fe
Aluminum UBCs delivered AAXXC04 AAXXC03 AAXXC16 Assessment Thursday PMA201 Baled used beverage cans, to meet ISRI Full truckload, NA Delivered Northeast Within 30 days Net 30 Pesos/kg
NE Mexico pesos/kg “taldon” specification. 20 mt Mexico days
Aluminum UBCs delivered AAXUC04 AAXUC03 AAXUC16 Calculation Thursday PMA201 Baled used beverage cans, to meet ISRI Full truckload, NA Delivered Northeast Within 30 days Net 30 Cents/lb
NE Mexico cents/lb “taldon” specification. 20 mt Mexico days
Aluminum 6063 new bare AAXXD04 AAXXD03 AAXXD16 Assessment Thursday PMA201 6063 new bare scrap, free of paint, may be Full truckload, NA Delivered Northeast Within 30 days Net 30 Pesos/kg
scrap delivered NE Mexico anodized - may include press scrap with 20 mt Mexico days
pesos/kg butts
Aluminum 6063 new bare AAXUD04 AAXUD03 AAXUD16 Calculation Thursday PMA201 6063 new bare scrap, free of paint, may be Full truckload, NA Delivered Northeast Within 30 days Net 30 Cents/lb
scrap del NE Mexico cents/lb anodized - may include press scrap with butts 20 mt Mexico days
US
US Aluminum Old Cast AAFBJ00 AAFFN00 AAMOU00 AAFFN16 Assessment Monday/ PMA0300 Less than 1% Mg and Zn, low Fe, low Full truckload NA Delivered Midwest Within 30 days Net 30 Cents/lb
Thursday contamination; minimum recovery rate 92% days
US Aluminum Old Sheet AAFBL00 AAFBO00 AAMOT00 AAFBO16 Assessment Monday/ PMA0300 Non-cast aluminum items for consumption Full truckload NA Delivered Midwest Within 30 days Net 30 Cents/lb
Thursday by secondary aluminum smelters to meet days
ISRI “taint/tabor”
US Aluminum Mill-Grade AAFBP00 AAFBR00 AAMOQ00 AAFBR16 Assessment Monday/ PMA0300 Mixed-low copper clips able to be Full truckload NA Delivered Midwest Within 30 days Net 30 Cents/lb
Mixed Low Copper Clips Thursday consumed by aluminum rolling mills, 1000, days
(MLCCs) 3000, 5000, 6000 series only
US Alum Smelter-Grade AAFBT00 AAFBV00 AAFBU00 AAFBV16 Assessment Monday/ PMA0300 Mixed-low copper clips for consumption by Full truckload NA Delivered Midwest Within 30 days Net 30 Cents/lb
MLCCs Thursday secondary aluminum smelters, loose, bare, new, days
no contamination, free of 2000 and 7000 series
US Aluminum Turnings AAFCA00 AAFCC00 AAMON00 AAFCC16 Assessment Monday/ PMA0300 Machine and tooling scrap for consumption Full truckload NA Delivered Midwest Within 30 days Net 30 Cents/lb
Thursday by secondary aluminum smelters; high days
grade, clean and dry
US Low Grade Auto ShredsAASSO00 AASSO03 AASSO04 AASSO16 Assessment Monday/ PMA0300 Auto shreds generated through an eddy Full truckload NA Delivered Midwest Within 30 days Net 30 Cents/lb
Thursday currentbased or hand separation process, days
containing at least 90% metallics and not
more than 4% zinc
© 2022 by S&P Global Inc. All rights reserved. 7Specifications Guide Global Nonferrous Metals: July 2022
SCRAP
Assessment Code Mavg Wavg Qavg Yavg Type Published Page Quality Quantity Dimensions Incoterms Location Timing Payment UOM
US High Grade Auto AASSP00 AASSP03 AASSP04 AASSP16 Assessment Monday/ PMA0300 Auto shreds generated through a heavy Full truckload NA Delivered Midwest Within 30 days Net 30 Cents/lb
Shreds Thursday mediabased separation process, containing days
at least 98% metallics and not more than 1%
free zinc, to include material from the following
suppliers: Huron Valley, Ferrous Processing/SLC
Recycling and Fort Wayne OmniSource Corp
US Alum UBCs AAFCD00 AAMDC00 AAMDC16 Assessment Thursday PMA0413 Baled used beverage cans, to meet ISRI Full truckload NA Delivered Midwest Within 30 days Net 30 Cents/lb
“taldon” specification days
US Aluminum Painted AASNW02 AASNW03 AASNW16 Assessment Thursday PMA0413 Siding consisting of clean, low-copper Full truckload NA Delivered Midwest Within 30 days Net 30 Cents/lb
Siding aluminum siding scrap, painted one or days
two sides, free of plastic coating, iron, dirt,
corrosion, fiber, foam or fiberglass backing
or other non-metallic items
US Aluminum 6063 New AAFCE00 AAMCZ00 AAMCZ16 Assessment Thursday PMA0413 New bare 6063 extrusion scrap Full truckload NA Delivered Midwest Within 30 days Net 30 Cents/lb
Bare Extrusion Scrap days
Discount
US Aluminum 6063 New AAFCF00 AAXVZ03 AAXVZ04 Calculation Daily PMA0413 New bare 6063 extrusion scrap all-in value Full truckload NA Delivered Midwest Within 30 days Net 30 Cents/lb
Bare Extrusion Scrap daily days
(All-in)
US Aluminum 6022 New AAXVM04 AAXVM03 AAXVM16 Assessment Thursday PMA0413 New bare 6022 aluminum sheet scrap Full truckload Min thickness of Delivered Midwest Within 30 days Net 30 Cents/lb
Bare Scrap Discount 0.050 inches.Free of days
punchings less then
half-inch in diameter
US Aluminum 6022 New AAXVM00 AAXVX03 AAXVX04 Calculation Daily PMA0413 New bare 6022 aluminum sheet scrap all- Full truckload Min thickness of Delivered Midwest Within 30 days Net 30 Cents/lb
Bare Scrap (All-in) in value 0.050 inches.Free of days
punchings less then
half-inch in diameter
US Aluminum 5052 New ABSDB04 ABSDB03 ABSDB16 Assessment Thursday PMA0413 New bare 5052 aluminum sheet scrap Full truckload Min thickness 0.015 Delivered Midwest Within 30 days Net 30 Cents/lb
Bare Scrap Discount inches (.38 mm). Free days
of punchings less than
1/2” (1.27 cm) in size.
US Aluminum 5052 New ABSDA00 ABSDA03 ABSDA04 Calculation Daily PMA0413 New bare 5052 aluminum sheet scrap Full truckload Min thickness 0.015 Delivered Midwest Within 30 days Net 30 Cents/lb
Bare Scrap (All-in) inches (.38 mm). days
Free of punchings
less than 1/2” (1.27
cm) in size.
Carbon-Accounted Aluminum Spreads
US Aluminum MWT - A380 ALUMB00 ALUMB03 Calculation Monday/ PMA0300 P1020A and A380 alloy Delivered Midwest Within 30 days Cents/lb
Spread Thursday
US Aluminum MWT - Mill- ALUMC00 ALUMC03 Calculation Monday/ PMA0300 P1020A and scrap Mill-grade MLCCs Delivered Midwest Within 30 days Cents/lb
MLCCs Spread Thursday
US Aluminum MWT - UBCs ALUMA04 ALUMA03 Calculation Thursday PMA0413 P1020A and scrap UBCs Delivered Midwest Within 30 days Cents/lb
Spread
© 2022 by S&P Global Inc. All rights reserved. 8Specifications Guide Global Nonferrous Metals: July 2022
SECONDARY ALLOYS
Assessment Code Mavg Wavg Qavg Yavg Type Published Page Quality Quantity Dimensions Incoterms Location Timing Payment UOM
US
Aluminum A380 alloy MMAAD00 MMAAD02 MMAAD01 MMAAD16 Assessment Monday/ PMA0300 8-9.5% Si, 1% Fe, 3-4% Cu, 0.5% Mn, 0.1% Full truckload NA Delivered Midwest Within 30 days Net 30 Cents/lb
Thursday Mg, 0.5% Ni, 2.9% Zn, and 0.35% Sn to net 60
days
Aluminum 319 alloy MMAAC00 MMAAC02 MMAAC01 MMAAC16 Assessment Monday/ PMA0300 5.5-6.5% Si; 0.8% Fe, 3-4% Cu; 0.50% Mn, Full truckload NA Delivered Midwest Within 30 days Net 30 Cents/lb
Thursday 0.1% Mg, 0.35% Ni; 1% Zn, 0.25% Ti to net 60
days
Aluminum 356 alloy MMAAB00 MMAAB02 MMAAB01 MMAAB16 Assessment Monday/ PMA0300 6.5-7.56% Si; 0.5% Fe; 0.25% Cu; 0.35% Full truckload NA Delivered Midwest Within 30 days Net 30 Cents/lb
Thursday Mn; 0.25-0.45% Mg; 0.35% Zn; 0.25% Ti to net 60
days
Aluminum F132 alloy MMAAA00 MMAAA02 MMAAA01 MMAAA16 Assessment Monday/ PMA0300 8.5-10% Si; 0.6% Fe; 2-4% Cu; 0.2% Mn; Full truckload NA Delivered Midwest Within 30 days Net 30 Cents/lb
Thursday 0.9-1.3% Mg; 0.1% Ni; 1% Zn; 0.2% Ti to net 60
days
Aluminum B390 alloy FAALB00 FAALB03 FAALB04 FAALB16 Assessment Monday/ PMA0300 16-18% Si, 1.3% Fe max, 4-5% Cu, 0.5% Full truckload NA Delivered Midwest Within 30 days Net 30 Cents/lb
Thursday Mn, 0.45-0.65% Mg, 0.1% Ni, 1.4% Zn and to net 60
0.2% Ti days
Aluminum A413 alloy MMWUS00 MMWUS03 MMWUS04 MMWUS16 Assessment Monday/ PMA0300 11-13% Si, 1% Fe max, 0.6% max Cu, 0.35% Full truckload NA Delivered Midwest Within 30 days Net 30 Cents/lb
Thursday Mn, 0.1% Mg, 0.5% Ni, 0.5% Zn, 0.15% Sn. to net 60
days
Europe
Aluminum Alloy 226 DDP AALVT00 AALVU00 AALVU16 Assessment Friday PMA4310 226 LME Grade - DIN standard 1725 Full truckload NA DDP Germany Prompt Net 30 Eur/mt
Germany days
Aluminum Alloy 231 DDP ABLVT04 ABLVT03 ABLVT16 Assessment Friday PMA4310 DIN standard 1706 Full truckload NA DDP Germany Prompt Net 30 Eur/mt
Germany days
Asia
Aluminum ADC12 EXW AAVSI00 AAVSI03 AAVSI16 Calculation Tuesday PMA810 JIS standard Min 25 mt Not specified EXW China Within 14 days TT within 5 $/mt
China days
Aluminum ADC12 EXW AAVSI02 AAVSI13 Assessment Tuesday PMA810 JIS standard Min 25 mt Not specified EXW China Within 14 days TT within 5 Yuan/mt
China Yuan/mt days
Aluminum ADC12 FOB AAVSJ00 AAVSJ03 AAVSJ16 Assessment Tuesday PMA810 JIS standard Min 25 mt Not specified FOB Shanghai, Within 14 days TT within 5 $/mt
China Tianjin days
© 2022 by S&P Global Inc. All rights reserved. 9Specifications Guide Global Nonferrous Metals: July 2022
Aluminum Chain market practice. Bids or offers submitted in the MOC process trend purposes. Platts global market analysis also takes into
must clearly state loading from Bunbury or Kwinana or both at account spot bids/offers or trades basis CFR Europe, CFR
the time of submission, with the specific port to be nominated Canada, CFR Middle East, CFR Russia or FOB US West Coast.
Alumina (Aluminum Oxide)
after the trade. Seller’s option on nomination of a specific port in These are analyzed to determine whether netting back to a US
Market Close: 5:30 pm Singapore time (0930 GMT). a multi-port bid/offer is assumed, as per market practice. MOC Gulf Coast basis is possible given the specific ports, taking into
participants should state the terms of payment in their bid or consideration the appropriate Handymax or Handysize freight
Seaborne alumina (FOB Australia, FOB Brazil, and CIF China): offer at the time of submission. For further details please refer costs. Platts assessments may also take into account demand/
The assessments reflect the following specifications: max to the Metals Timing and Increment Guidelines: https://www. supply fundamentals for green petroleum coke, calcined
SiO2 0.025%, max Fe2O3 0.025%, max TiO2 0.007%, max Na2O spglobal.com/commodityinsights/PlattsContent/_assets/_files/ petroleum coke and aluminum in key consumer markets. FOB
0.55%, max ZnO 0.015%, max P2O5 0.003%, max CaO 0.05%, en/our-methodology/methodology-specifications/metals_ China prices may also be monitored for trend purposes.
max V2O5 0.005%, max loss on ignition (300-1000 degrees C) timing_increment_guidelines.pdf
1%, max alpha phase (Alumina Alpha or Alpha content) 12%, Standard loadings are 10,000-15,000 mt; larger loadings of up to
specific surface area 60-80 m2/g. The assessments reflect bulk CIF China: The assessment calculation reflects the following 25,000-45,000 mt may be price normalized.
cargoes of 30,000 mt and 35,000 mt lot sizes. Different cargo formula: FOB Australia Alumina (MMWAU00) plus Dry Bulk
sizes, as well as bagged shipments may be considered for the Freight Alumina Bunbury/Kwinana-Lianyungang 30,000 mt The assessment reflects CPC in sponge form, excluding shot
assessment after normalization to normal parameters. Handysize (MMACH00). coke, with the following specification: Sulfur 2.5-3%, Vanadium
300-400 ppm, Nickel max 250 ppm, Iron max 300 ppm, Silicon
FOB Australia: The assessment is based on FOB Australia FOB Brazil: The assessment represents the premium or discount max 250 ppm, Calcium max 150 ppm, Sodium max 120 ppm, Ash
market information. Pricing information from other locations (differential) for alumina in the Atlantic basin to the benchmark max 0.50%, VBD 0.85-0.87 g/cc (ASTM scale).
may be netted back to FOB Australia basis using assessed spot Platts Alumina FOB Australia daily assessment (MMWAU00).
freight rates for dry bulk carriers on the day of assessment. For The assessment reflects cargoes basis FOB Brazil. Material from The assessment is published on the last business day of the
netback calculations from CIF destinations, the appropriate other countries in the Atlantic region may be price normalized to month.
Handysize, Handymax or Supramax freight costs are taken FOB Brazil.
into consideration. Spot price bids/offers or trades basis other
Aluminum
FOB origins, such as India, Brazil or Jamaica, are not taken Ex-works China: Platts normalizes all price information
directly into account when assessing prices basis FOB Australia. gathered from other major alumina producing Chinese provinces US
However, they are actively considered for market consistency – Henan, Shandong, Guangxi, and Guizhou – back to an ex-works Market-on-Close (MOC) guidelines: For information on the MOC
with prices discovered or implied basis FOB Australia. Shanxi basis. assessment process for P1020 aluminum please refer to the
Metals Timing and Increment Guidelines: https://www.spglobal.
Market-on-Close (MOC) guidelines for FOB Australia: Platts com/commodityinsights/PlattsContent/_assets/_files/en/
Calcined Petcoke (CPC)
reflects standard operational tolerance for FOB Australia our-methodology/methodology-specifications/metals_timing_
cargoes as per market practice of +/-5% of volume at the Calcined Petroleum Coke FOB US Gulf Coast: Anode grade increment_guidelines.pdf
buyer’s option. Platts has observed that typical loading laycans calcined petroleum coke (CPC), suitable for aluminum smelters,
in the Australian spot market in the front month correspond to reflecting the price at which a cargo could be traded on an FOB MW US Market: Daily all-inclusive or “all-in” price for spot
a 5-7 day range, and as such will accept offers on such a basis. Gulf Coast/Mississippi River region basis at the close of the physical minimum 99.7% high-grade P1020A aluminum, DDP
For months where the specific loading laycan has not been assessment period on the day of publishing. In the absence of US MW consumer works, net-30-day payment terms, expressed
declared, offers may be considered on a wider laycan basis, and spot liquidity, Platts considers values where transactions would in cents/lb. The assessment takes into account all trading data
may be normalized. Bids will be accepted on a 30-day laycan conclude for the benchmark grade. Negotiations on current- obtained through the Platts daily survey of P1020A activity,
basis. Seller’s option to declare timing is assumed, as per typical quarter or half-year contracts may be taken into account for giving priority to any spot physical all-in data. In the absence of
© 2022 by S&P Global Inc. All rights reserved. 10Specifications Guide Global Nonferrous Metals: July 2022
all-in market information, Platts collects a wide range of other normalized for assessment purposes. In addition, Platts uses and relevant loading and unloading charges to net back to an
relevant market data, including, but not limited to, prevailing a matrix of typical delivery locations throughout North America FOB Canada basis from a delivered US Midwest basis.
exchange-traded values plus applicable premium or discount for and categorizes these locations as “average,” “close,” or “extra”
delivery to a typical-freight US Midwest aluminum user. These freights based on market input. The “close” or “extra” freight P1020A US Import Duty ($/mt: MMOHU00; cts/lb: MMOEU00):
values take into account exchange prices at 2 pm US EST, to locations are normalized to “average” based on differential Daily value calculated using the following method: 1) deduct
capture values more closely aligning with the timing of US deals. values determined by Platts, which are adjusted based on the freight factor (AFLSA00; AFLSB00) from the US Midwest
The assessment is normalized to delivery in the middle of the feedback from active market participants. The average – or Transaction assessment to derive an implied FOB value; 2) divide
Platts typical window of 7-30 days from the date of publication basis – locations include: Anderson, Lafayette, and Warrick, the FOB value by 1.1, creating an implied duty-unpaid FOB value;
using the prevailing cash to M3 or month-to-month structure. Indiana; Berea, Russellville and Shelbyville, Kentucky; St. 3) multiply this implied duty-unpaid value by 0.1 to generate the
The assessment includes business for any-origin ingot, low- Louis, Missouri; Carthage, Huntington and New Johnsonville, “P1020A US Import Duty.”
profile sow or T-bars. Volumes must be a minimum full 45,000 Tennessee; Manitowoc, Wisconsin; and Ravenswood, West
lb (20 mt) truckload or multiples thereof to be included in the Virginia. Assessment reflects net 30-day payment terms from P1020A MW US Transaction Premium (Implied Duty-Unpaid)
assessment. The typical order size for price normalization is delivery. Other payment terms are normalized to net-30 day delivered US Midwest ($/mt: MMOIU00; cts/lb: MMOFU00): Daily
100-1,000 mt, and price data for volumes that are smaller or payment terms. Deals that require a specific shape or chemistry value calculated by deducting the “P1020A US Import Duty” from
larger than the typical order size may be normalized to the (i.e., T-bars or ingots only, no lithium) may be normalized to the “MW US Transaction Premium.”
standard. The assessment reflects delivery to a typical-freight the stated standard specification. Platts final published MWP
consumer in a broad US Midwest region via truck or rail. Pricing assessment gives priority to values that have been reported as a P1020A MW US Transaction Price (Implied Duty-Unpaid)
data reported to Platts as FOB, FCA or for non-Midwest locations negotiated premium. Implied premiums derived from fixed-price delivered US Midwest ($/mt: MMOJU00; cts/lb: MMOGU00):
may be normalized for assessment purposes. all-in values are given lower priority. The assessment reflects Daily value calculated by deducting the “P1020A US Import Duty”
the most widely tradable and repeatable premium or discount from the “MW US Transaction price.”
MW US Transaction Premium: Daily premium or discount to values prevailing at the close of US markets, typically at 4:00
the LME cash settlement price for spot physical minimum pm US Eastern time. On the last business day of the month and CIF New Orleans duty-unpaid premium: Daily assessment of
99.7% high-grade aluminum, DDP US MW consumer works, some US holidays, the assessment closes at 1:00 pm US Eastern the premium or discount, in $/mt, to the LME cash settlement
arrival within 7-30 days from date of publication. Assessment time. The assessment follows the London publication schedule. price for P1020A grade aluminum on a CIF New Orleans basis,
is expressed in cents/lb but also available on a converted $/ free out, duty-unpaid, taking into account breakbulk cargoes,
mt basis. Premium or discount is determined based on physical MW US Transaction Price: The sum of the daily LME high-grade in spot cargo sizes of 1,000-30,000 mt, normalized to 10,000
spot data reported through a daily survey of spot buyers and aluminum cash settlement price, converted into cents/lb, and mt for price assessment purposes, for arrival 30-60 days from
sellers, using a representative sample of producers, traders and the US MWP. See specification for MW US Transaction Premium. assessment date, cash against documents (CAD). The CIF New
different types of consumers (sheet mills, remelt billet makers, Orleans assessment considers market inputs on a CIF Mobile or
extruders, rod mills, etc). Includes business for LME-deliverable, MW US Net-Cash Premium: Daily premium or discount to the CIF Houston basis for normalization to CIF New Orleans basis.
any-origin ingot, low-profile sow or T-bars, normalized to sow/T- LME cash settlement price based on a survey of producers, Platts also publishes a cents/lb conversion and a derived NOLA
bar shape. Volumes must be a minimum full 45,000 lb (20 mt) traders and consumers about the prevailing spread between to the US MWP (MMAKE00) differential.
truckload or multiples thereof to be included in the assessment. net-cash and net-30 terms, on a cents/lb basis. All other
The typical order size for price normalization is 100-1,000 mt, specifications are the same as for the MW US Transaction US Six-Months P1020A: Weekly US premium or discount to LME
and price data for volumes that are smaller or larger than the Premium. cash settlement for minimum 99.7% high-grade aluminum,
typical order size may be normalized to the standard. The daily delivered Midwest, based on market data collected during
assessment reflects delivery to a typical-freight consumer in a P1020A US Duty Freight Factor ($/mt: AFLSA00; cts/lb: the current week for pricing six months forward. Reflects both
broad US Midwest region via truck or rail. Pricing data reported AFLSB00): Daily assessment determined by adding together physical and financial derivatives business.
to Platts as FOB, FCA, or for non-Midwest locations may be inland US freight, Canada-US sea vessel/barge/truck/rail freight
© 2022 by S&P Global Inc. All rights reserved. 11Specifications Guide Global Nonferrous Metals: July 2022
US Spot 6063 Billet Upcharge: Weekly US spot upcharge Zero-Carbon Aluminum Price (ZCAP): Daily calculation in $/mt with December quotation period (QP) and December laycan as
assessment over current P1020A MW US Transaction Price of the premium or discount over LME cash for Western-origin long as they fall within the 15-60 days loading window. Trades
for primary or remelt 6063 billet, to Aluminum Association minimum 99.7% ingot meeting LME high-grade specifications, reported outside the base month will be normalized using the
specifications, 7-inch or 8-inch diameter, basis delivery US with the cost of offsetting the carbon emissions of the LCAP most current futures exchange inter-month spread. For example,
Midwest, net-30 day payment terms. The range reflects the assessment (see specifications above) to zero, based on the a trade reported in November, with December QP and January
majority of spot business based on a survey of producers, value of the daily Platts CORSIA-eligible carbon credit price laycan, and falls within the 15-60 days loading period, will be
traders and extruders. assessment (CEC): https://www.spglobal.com/platts/en/ normalized using the December-January inter-month spread at
our-methodology/subscriber-notes/010421-platts-begins- the time of the trade. Platts also publishes an all-in price, which
Europe publishing-voluntary-carbon-credit-price-assessments-jan-4. is calculated as a sum of futures cash settlement and the spot
Good Western Premium Rotterdam: $/mt premium or discount CORSIA, the Carbon Offsetting and Reduction Scheme for CIF Japan premium assessment.
to LME cash for Western-origin minimum 99.7% ingot meeting International Aviation, is referenced by a wide range of non-
LME high-grade specifications. Assessed duty-paid and duty- aviation industries as an acceptable approach for voluntarily CIF Japan Forward Quarter Premium (industry-settled):
unpaid in-warehouse Rotterdam. curbing carbon’s impact on climate change. It reflects credits Industry-negotiated premium or discount to the futures price
from projects certified by the following groups: The Gold at time of shipment. The premium range reflects the majority
Aluminum Billet 6060/6063: Weekly assessments of the physical Standard, Climate Action Reserve (CAR), Verified Carbon of concluded quarterly price settlements for annual long-term
spot market price in $/mt and Eur/mt for min 99.7% aluminum Standard (VCS), Architecture for REDD+ Transactions, and contracts for standard grade P1020, which may be normalized in
as 6060/6063 billet with a diameter of 7-inch or 8-inch. Other American Carbon Registry. Platts reflects the methodologies the case of packaged deals tied to value-added-products (VAP)
qualities are considered and normalized back to Platts base for the above standards for the relevant types of carbon where an impact on market value is observed. All trades reported
standard specifications, subject to prevailing market differentials. credit projects as specified by the International Civil Aviation that align to current Platts methodology are considered,
Minimum 50 mt shipments for delivery within 60 days. Organization (ICAO). The daily CEC assessment, measured in US irrespective of whether they were sold by aluminum producers,
dollars per mt CO2-equivalent ($/mtCO2e), represents five lots traders or consumers. Cargoes leave ports during the quarter for
Low-Carbon Aluminum Price (LCAP): Daily assessment in $/mt of 1,000 CO2e units each and reflects bids, offers and trades for which the contract has been negotiated. The final value or range
of the premium or discount over LME cash for Western-origin any CORSIA-eligible credits verified by the above groups. ZCAP is is published when a sufficient number of transactions have
minimum 99.7% ingot meeting LME high-grade specifications, calculated using the following formula: ZCAP = LCAP + (4*CEC). been concluded to reflect a repeatable value for the quarter in
produced with a maximum emissions level of 4 mt of CO2 per question. This is often the case by the first business day of the
mt of aluminum, based on Scope 1, 2 at the smelter. LCAP Asia calendar quarter. Should contract negotiations extend beyond
reflects 100-1,000 mt, in-warehouse Rotterdam, on a duty- CIF Japan Spot Premium: Daily assessment of the spot premium the first business day of the quarter, no quarterly value would be
paid and duty-unpaid basis, net-30 day payment terms. Other or discount to the futures cash settlement price for high-grade published until a sufficient number of transactions have been
quantities and emission levels may be normalized to this basis, aluminum. The CIF Japan spot aluminum premium, assessed concluded.
including material using carbon offset credits to meet 4 mt as a range, reflects all origins, except Iran, India, Egypt in line
of CO2 at the smelter, and emissions specified on a cradle- with the market definition of Good Western material, and CFR China All-in Import Price: Automated daily formula price
to-gate basis. Assessment applies only to aluminum which excludes material from LME warehouses. In order to ensure the reflecting the theoretical import value for importing P1020A
has had its smelter Scope 1 and 2 emissions certified by an underlying futures structure is accounted for when assessing aluminum into China. The calculation is the current futures cash
internationally accepted, independent organization. In the the CIF Japan Spot Premium, Platts normalizes all indications settlement price plus current midpoint of the Platts CIF Japan
absence of observable spot market activity, Platts may consider to a base month. The base month is the calendar month plus Spot Premium (MMANA00) x Yuan exchange rate x Value Added
other verifiable data reported. Platts may observe direct market one (M+1). For example, if Platts is assessing during the month Tax + China port charges. This assessment enables comparison
activity as well as the effect of movements in related markets of November, then the assessment will reflect December as the with the China domestic Shanghai Futures Exchange current
through spread differentials, for example. base month. Normalization is not required for trades reported front month price, as well as the various domestic spot prices.
© 2022 by S&P Global Inc. All rights reserved. 12Specifications Guide Global Nonferrous Metals: July 2022
Latin America 30-day delivery, US Midwest. Painted siding: Siding consisting of clean, low-copper aluminum
Aluminum CIF Brazil premium duty unpaid: Weekly assessment siding scrap, painted one or two sides, free of plastic coating,
of the premium or discount to the LME cash settlement price Old Sheet: Non-cast aluminum items for consumption by iron, dirt, corrosion, fiber, foam or fiberglass backing or other
for spot physical high-grade aluminum P1020A, minimum secondary aluminum smelters to meet ISRI “taint/tabor” non-metallic items; cents/lb, 30-day delivery, US Midwest.
99.7% Al purity, standard ingot, sow and T-Bars. Assessment specification; cents/lb, 30-day delivery, US Midwest. Assessed once per week.
basis CIF Brazil (to include major ports Santos/SP, Itajai/SC,
Itaguai/RJ and Sao Francisco do Sul/SC), duty unpaid, VAT not Mill-grade MLCCs: Mixed-low copper clips able to be consumed 6063 New bare extrusion scrap: Aluminum scrap consisting
included (ICMS, PIS/Cofins and IPI), delivery within 30-60 days, by aluminum rolling mills, 1000, 3000, 5000, 6000 series only; of one alloy (typically 6063). Material may contain “butt ends”
cash against documents payment (at arrival or up to 7 days cents/lb, 30-day delivery, US Midwest. from the extrusion process, but must be free of any foreign
prior to the arrival at the discharge port). Prices for volumes, contamination. Anodized material is acceptable, but free of oil,
grade, shape or payment terms that differ from the standard Smelter-grade MLCCs: Mixed-low copper clips for consumption film, coating or paint, and free of stainless steel, iron or other
specification may be normalized to the typical range. FOB by secondary aluminum smelters, loose, bare, new, no metallics. Price data for straight 6063 press scrap or 6063 scrap
values from exporting regions may also be considered in the contamination, free of 2000 and 7000 series; cents/lb, 30-day containing another alloy, paint or oil may be normalized to the
assessment process. delivery, US Midwest. stated specification; cents/lb, 30-day delivery, US Midwest. The
weekly assessment reflects a discount or premium to Thursday’s
Aluminum DDP SE Brazil: Platts assesses premium or discount Turnings: Machine and tooling scrap for consumption by Platts Aluminum Transaction price. Platts also publishes a daily
to the LME cash settlement price for spot physical high-grade secondary aluminum smelters; high grade, clean and dry; cents/ all-in value, calculated as a sum of the last-assessed discount
aluminum P1020A, minimum 99.7% Al purity, standard ingot, lb, 30-day delivery, US Midwest. or premium and the daily Aluminum Transaction assessment.
sow and T-Bars. Delivery within 30 days to customers’ works
in the Southeast region of Brazil (including Sao Paulo, Rio de High-grade auto shreds: Auto shreds generated through a 6022 New bare scrap: New, bare aluminum sheet scrap meeting
Janeiro, Minas Gerais and Espirito Santo), duty-paid, VAT not heavy media-based separation process, to meet ISRI “twitch” 6022 specification with a minimum thickness of 0.050 inches.
included (ICMS, PIS/Cofins and IPI). Payment terms net-7 to net- specification, containing at least 98% metallics, not more than Free of hair wire, wire screen, dirt and other non-metallic items,
10 days, prices for 25-500 mt parcels are normalized to typical 1% free Zn, and maximum 0.30% Mg, with quality comparable as well as punchings less than ½ inch (1.27 cm) in diameter.
order size of 100 mt. Other shapes, grades, locations, delivery to the following suppliers: Huron Valley, Ferrous Processing/SLC Grease and oil not to total more than 1%. Normalized to the
periods, volumes and payment terms may be normalized to this Recycling and Fort Wayne OmniSource Corp.; cents/lb, 30-day stated specification; cents/lb, 30-day delivery, US Midwest. The
standard specification. Platts also publishes an all-in price, delivery, US Midwest. weekly assessment reflects a discount or premium to Thursday’s
which is calculated as a sum of the assessed premium and the Platts Aluminum Transaction price. Platts also publishes a daily
LME price for a corresponding strip. Low-grade auto shreds: Auto shreds generated through an all-in value, calculated as a sum of the last-assessed discount
eddy current-based or hand separation process, to meet ISRI or premium and the daily Aluminum Transaction assessment.
“tweak” specification, containing at least 90% metallics and not
Aluminum Scrap
more than 4% free Zn, and 1% Mg; cents/lb, 30-day delivery, US 5052 New bare scrap: New, bare aluminum scrap meeting 5052
US Midwest. specification with a minimum thickness of 0.015 inches (0.38
US aluminum scrap assessments are published twice per week mm). Free of hair wire, wire screen, dirt and other non-metallic
unless otherwise specified. UBCs: Baled used beverage cans, to meet ISRI “taldon” items, as well as punchings less than ½ inch (1.27 cm) in
specification; cents/lb, delivered, US Midwest. Reflects the range diameter, as per ISRI specifications. Grease and oil not to total
Old Cast: Aluminum castings for consumption by secondary of spot business concluded by mill consumers and mid-to-large more than 1%. Normalized to the stated specification; cents/lb,
aluminum smelters, to meet ISRI “tense” specification, scrap dealers/consolidators/brokers. Business that is reported 30-day delivery, US Midwest. The weekly assessment reflects a
crushed cast, shreddable, less than 1% Mg and Zn, low Fe, low as non-Midwest or FOT/FCA (picked up) is adjusted to reflect discount or premium to Thursday’s Platts Aluminum Transaction
contamination; minimum recovery rate 92%; cents/lb, within average US Midwest delivery. Assessed once per week. price. Platts also publishes a daily all-in value, calculated as a
© 2022 by S&P Global Inc. All rights reserved. 13Specifications Guide Global Nonferrous Metals: July 2022
sum of the last-assessed discount or premium and the daily twice-weekly, typically on Mondays and Thursdays in the case of The A380 assessment reflects new A380 specification alloy
Aluminum Transaction assessment. the MWT-A380 and MWT-MLCCs, and once a week on Thursdays produced by smelters with reverberatory furnaces, not
for MWT-UBCs. In the event of holidays, they also follow any warehoused LME North American Special Aluminium Alloy
Latin America changes in assessment days for the least-frequent. If the Contract (NASAAC). Other alloys are aligned with the Aluminum
Old cast delivered NE Mexico: Old cast aluminum scrap with daily MWT should not be available on a twice-weekly or weekly Association specifications or typical market specifications for
up to 5% contamination, minimal 88% recovery. Delivered in assessment date due to a holiday, then the spread will not be 319.1, 356.1, 332.2 (for F132), A413 and B390.
northeastern Mexico (Nuevo Leon and Coahuila states). The price published.
excludes VAT and is published in pesos/kg and cents/lb. Platts assessments represent the following qualities:
The spreads are underpinned by existing Platts primary and
Old sheet delivered NE Mexico: Non-cast aluminum items for secondary aluminum assessments. They can help quantify costs A380 – 8-9.5% Si, 1% Fe, 3-4% Cu, 0.5% Mn, 0.1% Mg, 0.5% Ni,
consumption by secondary aluminum smelters, ISRI “taint/ in meeting carbon emissions reduction targets and show how 2.9% Zn, 0.35% Sn
tabor” grade, containing 2-3% Fe. Delivered in northeastern these costs may impact finished material prices.
Mexico (Nuevo Leon and Coahuila states). The price excludes VAT 319 – 5.5-6.5% Si, 0.8% Fe, 3-4% Cu, 0.50% Mn, 0.1% Mg,
and is published in pesos/kg and cents/lb. US Aluminum MWT - A380 Spread: The difference between 0.35% Ni, 1% Zn, 0.25% Ti
the US Aluminum Midwest Transaction price for P1020 and
UBCs delivered NE Mexico: Baled used beverage cans, ISRI secondary A380 alloy, in cents/lb, twice weekly. ALUMB00 = 356 – 6.5-7.56% Si, 0.5% Fe, 0.25% Cu, 0.35% Mn, 0.25-0.45%
“taldon” specification. Delivered in northeastern Mexico (Nuevo MMAAF10 - MMAAD00 Mg, 0.35% Zn, 0.25% Ti
Leon and Coahuila states). The price excludes VAT and is
published in pesos/kg and cents/lb. US Aluminum MWT – Mill MLCCs Spread: The difference F132 – 8.5-10% Si, 0.6% Fe, 2-4% Cu, 0.2% Mn, 0.9-1.3% Mg,
between the US Aluminum Midwest Transaction price for P1020 0.1% Ni, 1% Zn, 0.2% Ti
6063 new bare scrap delivered NE Mexico: 6063 new bare and mill-grade MLCCs scrap, in cents/lb, twice weekly. ALUMC00
scrap, free of paint, may be anodized - may include press scrap = MMAAF10 - AAFBP00 B390 – 16-18% Si, 1.3% max Fe, 4-5% Cu, 0.5% Mn, 0.45-0.65%
with butts. Delivered in northeastern Mexico (Nuevo Leon or Mg, 0.1% Ni, 1.4% Zn, 0.2% Ti
Coahuila states). The price excludes VAT and is published in US Aluminum MWT-UBCs Spread: The difference between the
pesos/kg and cents/lb. US Aluminum Midwest Transaction price for P1020 and the A413 – 11-13% Si, 1% max Fe, 0.6% Cu max, 0.35% Mn, 0.1%
weekly used beverage cans scrap assessment, in cents/lb, Mg, 0.5% Ni, 0.5% Zn, 0.15% Sn
Aluminum scrap FOT SE Brazil: Platts assesses domestic weekly. ALUMA04 = MMAAF10 - AAFCD00.
prices of aluminum cans, castings and profile extrusion. For full Europe
specifications please see the table. Aluminum Alloy 226, 231: Secondary aluminum alloys are
Secondary Aluminum Alloys
assessed in Eur/mt on a delivered German works basis, prompt
US delivery in full truck loads. Other qualities are considered and
Carbon-Accounted Aluminum Spreads
US secondary aluminum alloys are assessed twice per week. normalized back to Platts base standard specifications, subject
Global low-carbon metals spreads and ratios provide price During certain holiday weeks where market activity is more to prevailing market differentials. The 226 LME grade alloy is
comparisons for usage of lower-carbon feedstocks versus limited, the assessments are carried out once per week. The produced in conformity with GBD-AlSi9Cu3 as described in DIN
traditional or higher-carbon feedstocks which help reduce the assessments reflect spot deliveries to US Midwest customer standard 1725 (1986). The 231 alloy conforms to AlSi12(Cu) as
carbon footprint of aluminum semi-fabricated products. The works, payment net-30 to net-60 days, minimum 45,000-lb described in DIN 1706.
aluminum carbon-accounted spreads follow the assessment truckload amounts.
schedule for the least frequent assessment in the series, ie,
© 2022 by S&P Global Inc. All rights reserved. 14Specifications Guide Global Nonferrous Metals: July 2022 Asia ADC12 ex-works China: The assessment reflects the domestic spot market price in yuan/mt and converted into a $/mt value, ex-plant from a typical supplier. The spot price reflects information reported by physical market participants, including Chinese secondary aluminum smelters, diecasters, foundries, automotive companies, and traders. ADC12 FOB China: The assessment reflects the export spot market price in $/mt, FOB Chinese ports, mainly Shanghai and Tianjin. The spot price represents information reported by physical market participants, including secondary aluminum smelters, diecasters, foundries, automotive companies, and traders. © 2022 by S&P Global Inc. All rights reserved. 15
Specifications Guide Global Nonferrous Metals: July 2022
BASE METALS
Assessment Code Mavg Wavg Yavg Type Published Page Quality Quantity Dimensions Incoterms Location Timing Payment UOM
Copper Concentrate
Clean Copper Concentrate PCCCB00 PCCCB03 PCCCB04 Assessment Daily PMA304 Cu 25%, Au 1g/mt, Ag 80g/mt, S 32%, Fe min 5,000 mt Not specified CIF China Loading LC at sight $/mt
CIF China Treatment 28%, Pb 0.1%, Zn 1%, As 0.2%, Sb 0.02%, 1-3 months
Charge Hg 2.5ppm, Bi 150 ppm, F 330 ppm forward
Clean Copper Concentrate PCCCC00 PCCCC03 PCCCC04 Assessment Daily PMA304 Cu 25%, Au 1g/mt, Ag 80g/mt, S 32%, Fe min 5,000 mt Not specified CIF China Loading LC at sight Cents/lb
CIF China Refining Charge 28%, Pb 0.1%, Zn 1%, As 0.2%, Sb 0.02%, 1-3 months
Hg 2.5ppm, Bi 150 ppm, F 330 ppm forward
Clean Copper Concentrate PCCCA00 PCCCA03 PCCCA04 Assessment Daily PMA304 Cu 25%, Au 1g/mt, Ag 80g/mt, S 32%, Fe min 5,000 mt Not specified CIF China Loading LC at sight $/mt
CIF China 28%, Pb 0.1%, Zn 1%, As 0.2%, Sb 0.02%, 1-3 months
Hg 2.5ppm, Bi 150 ppm, F 330 ppm forward
Clean Copper Concentrate PCCCG00 PCCCG03 PCCCG04 Assessment Daily PMA304 Cu 25%, Au 1g/mt, Ag 80g/mt, S 32%, min 5,000 mt Not specified CIF China Loading LC at sight $/mt
Producer-Trader Fe 28%, Pb 0.1%, Zn 1%, As 0.2%, 1-3 months
Treatment Charge Sb 0.02%, Hg 2.5ppm, Bi 150 ppm, F forward
Differential 330 ppm
Clean Copper Concentrate PCCCH00 PCCCH03 PCCCH04 Assessment Daily PMA304 Cu 25%, Au 1g/mt, Ag 80g/mt, S 32%, min 5,000 mt Not specified CIF China Loading LC at sight Cents/lb
Producer-Trader Refining Fe 28%, Pb 0.1%, Zn 1%, As 0.2%, 1-3 months
Charge Differential Sb 0.02%, Hg 2.5ppm, Bi 150 ppm, F forward
330 ppm
Clean Copper Concentrate PCCCD00 Assessment Daily PMA304 Cu 25%, Au 1g/mt, Ag 80g/mt, S 32%, Fe min 5,000 mt Not specified CIF China Loading LC at sight $/mt
CIF China vs Los 28%, Pb 0.1%, Zn 1%, As 0.2%, Sb 0.02%, 1-3 months
Pelambres Hg 2.5ppm, Bi 150 ppm, F 330 ppm forward
Clean Copper Concentrate PCCCE00 Assessment Daily PMA304 Cu 25%, Au 1g/mt, Ag 80g/mt, S 32%, Fe min 5,000 mt Not specified CIF China Loading LC at sight $/mt
CIF China vs Escondida 28%, Pb 0.1%, Zn 1%, As 0.2%, Sb 0.02%, 1-3 months
Hg 2.5ppm, Bi 150 ppm, F 330 ppm forward
Clean Copper Concentrate PCCCF00 Assessment Daily PMA304 Cu 25%, Au 1g/mt, Ag 80g/mt, S 32%, Fe min 5,000 mt Not specified CIF China Loading LC at sight $/mt
CIF China vs Los Bronces 28%, Pb 0.1%, Zn 1%, As 0.2%, Sb 0.02%, 1-3 months
Hg 2.5ppm, Bi 150 ppm, F 330 ppm forward
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