Nasaac concerns to persist: die casters
Jul 09, 2013 | 05:29 PM
| Nathan Laliberte
NEW YORK The London Metal Exchanges proposal to alleviate long queues from its warehouse network will not solve apparent problems with the LMEs North American special aluminum alloy contract (Nasaac) or encourage its reacceptance as a pricing tool, domestic die casters and alloy producers told AMM.
The LME has proposed linking load-out rates to load-in rates at warehouses with queues longer than 100 calendar days in an effort to free up material and quell talk that the current system is broken (amm.com, July 1).
However, although concerns about the queues were one issue behind many domestic die casters and alloy producers decision to cease using the Nasaac contract as a pricing mechanism, market participants said they dont expect the proposed warehouse changes to change their mind about the contracts effectiveness overall.....
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