Aluminum alloys swing higher on Nasaac spike

May 22, 2014 | 06:02 PM | Sean Davidson

Tags  aluminum secondary alloy, A380, North American special aluminum alloy contract, Nasaac, London Metal Exchange, LME, A380.1, A360.1 A413.1

NEW YORK — Secondary aluminum alloy prices jumped May 22 following an unexpected rise in London Metal Exchange contract prices for North American secondary alloy.

More than a year after sparse trading on the LME’s North American special aluminum alloy contract (Nasaac) resulted in it losing favor among market participants, alloy makers switched gears as the spot Nasaac price jumped 3.5 cents per pound from May 19.

The jump to $1.02 per pound May 22 meant alloy producers could sell A380.1 alloy into an LME warehouse for around $1.06 per pound after factoring average warehouse incentives, with cash paid on delivery and not after 30 days as is common practice in the free market.....

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