New price system used by Alcoa in Europe

Sep 17, 2012 | 02:05 PM |

Tags  Alcoa, aluminum, premiums, price transparency

NEW YORK — Alcoa Inc., in a move aimed at improving price transparency, is now factoring in primary aluminum ingot premiums when pricing its flat-rolled products in Europe rather than just adding conversion costs to the London Metal Exchange price.

"With immediate effect, all prices will be quoted with a clear isolation of the aluminum premium from LME and conversion revenues," vice president of European rolled products Bernd Schaefer said in a letter to customers. ....

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