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hello, I just purchased a granulator system and am looking to sell my granulates directly to a mill or foundry. They are quoting me "24 under market." I am unsure what that means as I am usually quoted in terms of dollars. Does 24 under market refer to amount of cents under LME value of the copper? thank you
Yes, 24 under market means .24 below LME, Comex or whichever index they are using. Be sure to agree on the index and the time of day to fix the price as pricing fluctuates during the day.
What type of material are you chopping? What kind of quantity? 24 sounds low. I've seen scale price on Bare Brite at 35 to 40 cents under.Quote:
Originally Posted by jonathanj1992
From prior posts I think it's a #2 chop.
Quote:
Originally Posted by mthomasdev
Don't you have that backwards?
If you have seen 35-40 cents under, wouldn't 24 seem high/a good price?
As in, say price is $3.00...... 24 under would be $2.76/lb.... 40 under would be $2.60/lb ? Or am I misunderstanding?