LME vows to fix problems with Nasaac

Feb 26, 2014 | 02:55 PM | Nathan Laliberte

Tags  aluminum, London Metal Exchange, North America special aluminum alloy contract, Nasaac, North American Die Casting Industry, Nadca, Nathan Laliberte

MARCO ISLAND, Fla. — The London Metal Exchange is committed to analyzing and addressing the drivers behind "queue-related" premiums, which are affecting the supply of North American special aluminum alloy contract (Nasaac) material, an LME representative said at the North American Die Casting Industry’s (Nadca) Executive Conference Feb. 25.

Of the 78,020 tonnes of Nasaac inventories as of Feb. 24, more than 91 percent (71,160 tonnes) was held in LME-listed warehouses in Detroit, a location that has been impacted by a huge build up of primary, or P1020, aluminum in recent years.

Warrant holder cancellation activity has resulted in lengthy queues at numerous U.S.-based warehouses, LME head of education and marketing Catherine Markey said at the conference in Marco Island. Accordingly, a decline in premiums may "not be fully observed until all queues begin to fall."....

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