Fastmarkets proposes to refine the names of its global aluminium wheel alloy silicon 7 ingot premiums to reflect the material's usage in the market.
The aluminium wheel alloy silicon 7 ingot premiums are commonly known in the market as primary foundry alloy (PFA) or aluminium alloy silicon 7 premiums.
The reference to "wheel" in the name is now outdated and market participants say the uses for the ingots have become more varied.
Fastmarkets proposes to change the premium's group name to aluminium primary foundry alloy silicon 7 ingot.
The premiums affected would be:
For example, Aluminium wheel alloy silicon 7 ingot premium, ddp Eastern Europe, $/tonne would change to Aluminium primary foundry alloy silicon 7 ingot, ddp Eastern Europe, $/tonne.
There are no proposed changes to the specifications of the assessments.
The consultation period will last for two weeks and end on Wednesday July 15 with changes to be implemented immediately, subject to the result of the consultation.
To provide feedback on this proposal, or if you would like to provide price information by becoming a data submitter to these assessments, please contact Alice Mason or Justin Yang by email at pricing@fastmarkets.com. Please add the subject heading "FAO: Alice Mason / Justin Yang, re: aluminium wheel alloy silicon 7 ingot premiums"
To see all of Fastmarkets' pricing methodology and specification documents, go to https://www.fastmarkets.com/about-us/methodology.