Lower Nasaac hits secondary alloys
Dec 13, 2011 | 04:51 PM
| 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.....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.