Contract | Customer | Volume | Term | Pricing |
Glencore Grundartangi Metal Agreement (1) | Glencore | All primary aluminum produced at Grundartangi, net of tolling and other sales commitments | January 1, 2014 through December 31, 2017 | Variable, based on LME and European Duty Paid premium |
Southwire Metal Agreement (2) | Southwire | 216 million pounds per year (high conductivity molten aluminum) | January 1, 2014 through December 31, 2014 | Variable, based on U.S. Midwest Transaction Price |
(1) | The Glencore Grundartangi Metal Agreement is for all metal produced at Grundartangi from 2014 through 2017 less commitments under existing tolling and other sales contracts. Grundartangi currently estimates that it will sell Glencore approximately 155,000 tonnes of aluminum under this agreement in 2014. |
(2) | Southwire may, at its option, increase the volume purchased under the agreement by up to four percent by adjusting their monthly metal commitment. |
Contract | Customer | Volume | Term | Pricing |
Glencore Toll Agreement | Glencore | 90,000 tpy | Through July 31, 2016 | Variable, based on LME and European Duty Paid premium |
Glencore Toll Agreement | Glencore | 40,000 tpy | Through December 31, 2014 | Variable, based on LME and European Duty Paid premium |
December 31, 2013 | December 31, 2012 | |||
(in tonnes) | ||||
Other forward delivery contracts – total | 118,373 | 88,827 | ||
Other forward delivery contracts – Glencore | 20,008 | 1,811 | ||