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Derivatives (Tables)
 6 Months Ended
Jun. 30, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivatives not designated as hedging instruments The following table sets forth the Company's derivative assets and liabilities that were accounted for at fair value and not designated as cash flow hedges as of June 30, 2021 and December 31, 2020, respectively:
 Asset Fair Value
June 30, 2021
December 31, 2020
Commodity contracts (1)
$28.8 $12.8 
Foreign exchange contracts (2)
0.3 2.4 
Total$29.1 $15.2 

 Liability Fair Value
June 30, 2021
December 31, 2020
Commodity contracts (1)
$156.5 $16.7 
Foreign exchange contracts (2)
0.5 — 
Total$157.0 $16.7 

(1) Commodity contracts reflect our outstanding LME forward financial sales contracts, MWP forward financial sales contracts, fixed for floating swaps, Nord Pool power price swaps, and Indiana Hub power price swaps. At June 30, 2021, $31.7 million of Due to affiliates and $14.9 million of Due to affiliates - less current portion was related to commodity contract liabilities with Glencore. At December 31, 2020, $1.2 million of Due from affiliates, $1.7 million of Due from affiliates - less current portion, $11.3 million of Due to affiliates, and $0.1 million of Due to affiliates - less current portion was related to commodity contract assets and liabilities with Glencore.
(2) Foreign exchange contracts reflect our outstanding FX swaps.
Schedule of derivative instruments
The following table summarizes the net (loss) gain on forward and derivative contracts:
Three months ended June 30,
Six months ended June 30,
2021
2020
2021
2020
Commodity contracts(1)
$(63.6)$2.9 $(159.6)$11.8 
Foreign exchange contracts0.3 0.8 (1.8)(4.3)
   Total$(63.3)$3.7 $(161.4)$7.5 
(1) For the three months ended June 30, 2021 and 2020, $(28.7) million and $(7.9) million of the net (loss), respectively, was with Glencore. For the six months ended June 30, 2021 and 2020, $(53.5) million and $4.7 million of the net (loss) gain, respectively, was with Glencore.