Our friend Erwin Mayr, now the Senior Vice President of Novelis and President of Novelis Europe, made a statement about aluminum sheet price increases recently.
“This price adjustment reflects the prevailing strong demand for aluminium painted products combined with increasing production costs,” he said, regarding the fabrication price increase of 100 Euro per ton for painted products and selected specialty sheet. “The price changes are effective immediately for all new orders not covered by current supply agreements,” according to Automotive World.
Meanwhile, the big dipper on our daily aluminum price index was Chinese scrap:
Following two days of downward movement, the cash price of Chinese aluminum held steady. For the fifth day in a row, the price of Chinese aluminum bar remained essentially flat. The price of Chinese aluminum billet remained steady as well.
The cash price of primary Indian aluminum fell 3.3 percent.
The 3-month price of aluminum held steady yesterday on the LME, remaining around $1,793 per metric ton. After dropping for two days on the LME, the cash price of primary aluminum flattened at $1,748.