Aleris discontinuing use of Nasaac as price tool
Oct 09, 2012 | 02:55 PM
| Daniel Fitzgerald
INDIANAPOLIS Aleris International Inc. will discontinue using pricing formulas based on the London Metal Exchanges North American special aluminum alloy contract (Nasaac) in favor of measurements that correspond more closely with its scrap purchasing costs.
The Beachwood, Ohio-based aluminum company said Tuesday that it "will no longer supply multi-month pricing mechanisms that utilize the Nasaac index as a basis for 2013 pricing."
"Aleris is opting to use other indices and mechanisms that provide a better and closer correlation to the cost of aluminum scrap used in the products it offers to its specification alloy and recycling customers," the company said, declining to elaborate.
Several attendees at the North American Die Casting Association Congress and Exposition in Indianapolis told AMM on Tuesday that they were pleased with the move.....
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