INGOT PRICE definition
INGOT PRICE means the product of (a) the average daily cash price, in cents per pound U.S., for aluminum ingot on the London Metal Exchange as reported in Metals Week (published by McGraw Hill, Inc., 1221 ▇▇▇▇▇▇ ▇▇ ▇▇▇ ▇▇▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇) ▇▇r the billing month, and (b) the quotient obtained by dividing (i) 95.5 (the Fixed-Weighted Price Index for Gross National Product for the fourth quarter of 1985 adjusted to 1987 dollars as published by the U.S. Department of Commerce or succeeding published report), by (ii) the Fixed-Weighted Price Index for Gross National Product as published by the U.S. Department of Commerce, for the quarter ending prior to the billing period. If the U.S. Department of Commerce ceases 3 8 publishing the Fixed-Weight Price Index for Gross National Product, the parties will negotiate in good faith to select a substitute index which generally reflects price escalation in a similar manner as the Fixed-Weighted Price Index for Gross National Product.