Scrap traders, alloy producers dissatisfied with Nasaac
Jun 12, 2012 | 05:45 PM
| Daniel Fitzgerald
Tags
aluminum scrap,
Nasaac,
LME,
Aluminum Summit,
Rob Carey,
Metal Conversions,
Aaron Stankewicz,
Imperial Alloys
Bryan Beck
NEW YORK — Aluminum scrap traders and alloy producers have expressed doubts over the ongoing viability of the London Metal Exchange’s North American special aluminum alloy contract (Nasaac), claiming the contract’s lack of liquidity and varying spreads have made it almost unusable for the industry.
Panelists at the scrap roundtable at the 2nd Annual Aluminum Summit in New York, hosted by AMM, were unified in their dissatisfaction with Nasaac, saying they have progressively phased out their use of it as a basis for contract pricing.....
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