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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