The Aluminum GW duty-paid IW Rotterdam premium is one of Platts' four Primary Aluminum assessments in Europe, and is a part of Platts' suite of price references across the global aluminum chain.
It reflects the transactable value of physically-traded aluminum as a premium or discount to the London Metal Exchange [LME] cash price for 99.7% ingots, on an In-Warehouse Rotterdam basis with European duty paid.
Platts also publishes a duty unpaid assessment.
Platts started assessing Aluminum GW premium duty-paid IW Rotterdam as of September 2003.
The premium is assessed on a daily basis through a survey of market participants including producers, consumers and traders of primary aluminum in Europe and across the world.
Platts' assessment follows the Market-on-Close [MOC] methodology, and reflects the daily tradable value at 4:30 pm London time. This value is determined through incorporating the majority of bids, offers and transactions heard in the market on each day.
The assessment is a premium over the LME cash price [$/mt] for Western-origin 99.7% ingot which meets LME high grade expectations, basis In-Warehouse Rotterdam, 0-30 days payment terms and prompt delivery.
The Aluminum GW duty-paid IW Rotterdam premium assessment is, alongside other global aluminum prices, available in the following Platts services.
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How the Aluminum Market Works Training and Hedging Workshop: Nashville
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