Fastmarkets has been selected as the LME’s MJP Aluminium Premium partner
LONDON, Nov. 13, 2019 /PRNewswire/ -- Fastmarkets, a leading source of pricing data for the global commodity markets, announced today that it has been selected by the London Metal Exchange (LME) as its partner to launch a Main Japanese Ports (MJP) Premium contract in the second half of 2020. The contract will settle against Fastmarkets Aluminium P1020A Spot CIF Main Japanese Ports price. Detailed contract specifications will be made available to market participants in the coming months.
In recent years, the Japanese aluminium market has shifted away from the traditional quarterly benchmark premium system to purchase more units on the spot market and reduce its exposure to price volatility. In 2019, the migration continued to accelerate. The strong correlation between the quarterly and spot premiums is increasing the credibility of the spot premium assessments and reinforcing the use of the spot futures contracts as a valid hedging tool for both spot and quarterly contracts.
“The addition of the Main Japanese Ports contract on the LME highlights the key role Fastmarkets’ prices and premiums play throughout the global aluminium supply chain,” Fastmarkets CEO Raju Daswani said.
On Monday, 25 November, Fastmarkets will be hosting a webinar on the evolution of MJP aluminium premiums. The webinar will cover:
- an introduction to Fastmarkets Aluminium P1020A Spot CIF Main Japanese Ports price and methodologies
- the move from quarterly to spot pricing in the MJP market
- recent market trends; and
- key market and price drivers.
To register for the Evolution of MJP Aluminium Premiums webinar, please click here.
To learn more about Fastmarkets’ pricing methodology/specifications, please click here.
Fastmarkets is a leading price reporting, analytics and events organization for the global commodity markets, including metals, mining and forest products. Fastmarkets’ core activity in pricing drives transactions in commodities markets around the world and is complemented by news, industry data, analysis, conferences and insight services. Fastmarkets includes brands such as Fastmarkets MB, Fastmarkets AMM (previously known as Metal Bulletin and American Metal Market respectively), Fastmarkets RISI and Fastmarkets FOEX. Its team of over 400 people are located in 14 global offices including London, Boston, New York, Shanghai, Beijing, Singapore, Brussels and São Paulo. Fastmarkets is part of Euromoney Institutional Investor PLC (LSE:ERM), a listed company on the London Stock Exchange. Euromoney is a leading international business-to-business information group focused primarily on the global commodities, banking and asset management markets.
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