After showcasing their sexy new aluminum lithium alloys at the Paris Air Show, the biggest US-based aluminum company is acting on it – financially.
Alcoa announced recently that “to satisfy the demand for Alcoa’s advanced aerospace products and patented alloys, which allow airframes to increase fuel efficiency at what Alcoa says is a lower cost than composite alternatives,” they have “expanded aluminum lithium capacity at [the aluminum company’s] Kitts Green facility in the United Kingdom.”
According to an article in the Pittsburgh Business Time, the aluminum producer “projects this expansion will quadruple aluminum lithium revenues to reach nearly $200 million by 2019.”
The cash price of primary Indian aluminum closed as the biggest mover for Tuesday, June 18. Switching from a downward trend, the metal closed following a 1.5 percent increase. The primary aluminum cash price weakened by 1.4 percent on the LME, settling at $1,789 per metric ton. On the LME, the aluminum 3-month price declined 1.1 percent to $1,835 per metric ton.
Chinese aluminum closed mixed on Tuesday. Tuesday saw the price of Chinese aluminum billet drift down 1.3 percent after three quiet days. The Chinese aluminum cash price saw a 0.9 percent decline. The price of Chinese aluminum scrap saw little movement. The price of Chinese aluminum bar continues hovering in place for the fifth day in a row.