Mineral Indicators - Aluminum

According to industry representatives, U.S. producers were listing unalloyed 95.5 percent aluminum ingot in October at 53-57.5 cents per pound, but reportedly much is being priced at 53 cents. New York dealers raised their October positions by about 3 cents to 56-56.5 cents, mainly to cover spot supply shortages. London Metal Exchange 3-month forward contracts traded up in October from 52.3 to 57.3 cents per pound and closed at 56.4 cents. ASBESTOS The Jaquays Asbestos Corp. has announced the imminent closure of its mine and mill in Globe, Arizona. This is the last asbestos producer in the State having operated continuously, except during the early thirties, since 1914. Cost of compliance with environmental regulations was given as the reason for closure.