![]() No changes have been made to the existing U.S. The new implied duty-unpaid price assessments will be published alongside Platts' existing CIF New Orleans Duty-Unpaid premium assessment, which was launched in February 2018 to provide insight into the duty-unpaid price of aluminum as delivered on a cost, insurance and freight basis (CIF) into New Orleans, Louisiana, a hub for aluminum imports. ![]() The decision to launch these assessments follows extensive consultation with market participants, which commenced with informal engagement in late 2017 and culminated in a formal consultation process that ran from Jto July 20, 2018, and included an open Technical Workshop in Chicago on July 17, 2018. Aluminum US P1020 Duty Freight Factor – this determines the freight costs to net back to a free on board (FOB) Canada basis, which will be used as the basis for the duty calculations.Midwest – calculated by deducting the assessed value of the import tariff from the all-in Transaction Price assessment Aluminum P1020 Transaction Price (Implied Duty-Unpaid) delivered U.S.Midwest (Delivered Duty-Paid) Transaction Premium assessment Midwest – calculated by deducting the assessed value of the import tariff from the U.S. Transaction Premium (Implied Duty-Unpaid) delivered U.S. Import Duty – a daily assessment of the value of the import tariff charged on U.S. dollars per metric ton ($/mt) and cents per pound (cents/lb), and will adhere to our published methodology – available on the Platts website. The new daily assessments and their weekly and monthly averages will be published in U.S. They will also help participants outside of the U.S. These grades may not be subject to duties and our new implied duty-unpaid price assessments allow for valuation comparisons for other non-tariffed aluminum. Within the U.S., there are a number of aluminum grades that trade as a differential to the primary aluminum reflected in the Midwest Transaction Premium, such as aluminum scrap and cansheet aluminum. "Our new implied duty-unpaid price assessments provide market participants with greater transparency of aluminum values in a tariff environment. Midwest Transaction Premium and the all-in Transaction Price benchmarks, which assess the market value of aluminum, delivered duty-paid to the U.S. Ian Dudden, Global Content Director, Metals & Agriculture, S&P Global Platts, commented: "Following extensive formal consultation with market participants from across the aluminum supply chain, we are pleased to start publishing a new series of implied duty-unpaid U.S. Midwest aluminum P1020 values, as well as a daily calculated import duty assessment, effective August 1, 2018. WASHINGTON (July 27, 2018) – S&P Global Platts, the leading independent provider of information and benchmark prices for the commodities and energy markets, today announced it will publish new price assessments for implied duty-unpaid U.S.
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