Lower Nasaac hits secondary alloys
Dec 13, 2011 | 04:51 PM
| Sean Davidson
Tags
secondary aluminum alloy,
Nasaac,
LME,
a380 ingot prices,
Sean Davidson
NEW YORK — Secondary aluminum alloy market sentiment appears to have turned bearish after lower terminal market prices triggered a wave of selling at weaker numbers this past week.
Traders selling London Metal Exchange North American special aluminum alloy contract (Nasaac) metal were accused by producers of undercutting free-market tags.
Sources said they had heard of A380.1-specification metal trades at $1.04 to $1.05 per pound, although none of the sales were confirmed.
Free-market A380.1 prices were about 3 cents above that level, at $1.07 to $1.08 per pound, but were a penny lower than the previous range of $1.08 to $1.09 per pound.....
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