September 8 hearing: The new index-based approach to alumina pricing is faster than expected, with a senior executive from HYA (NHY.OS), a Norwegian aluminum company.
In an interview, the official Simon Storesund told Dow Jones Newswires that in addition to meeting its own consumer needs, the company also sold 3 million to 4 million tons of alumina. He said that by 2012 the foreseeable buyers will have more demand, and based on the new system, the company has already conducted a number of transactions.
The world's largest alumina producer with excess sales of alumina has strongly supported cost pricing. These include Alcoa, headquartered in the United States, Rio Tinto's London-listed subsidiary, and Rio Tinto Alcan. Previously, alumina pricing was related to the London Metal Exchange (LME) aluminum prices.
In an interview, the official Simon Storesund told Dow Jones Newswires that in addition to meeting its own consumer needs, the company also sold 3 million to 4 million tons of alumina. He said that by 2012 the foreseeable buyers will have more demand, and based on the new system, the company has already conducted a number of transactions.
The world's largest alumina producer with excess sales of alumina has strongly supported cost pricing. These include Alcoa, headquartered in the United States, Rio Tinto's London-listed subsidiary, and Rio Tinto Alcan. Previously, alumina pricing was related to the London Metal Exchange (LME) aluminum prices.
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