Novelis: US Carmakers Aluminum Consumption May Surpass Europe's
Are we seeing an aluminum trend in the states? Novelis Inc. thinks so.
“U.S. carmakers’ consumption of aluminum may surpass European counterparts in the next 12 months as new models using the metal come to market, according to Novelis Inc” (Bloomberg)
“Now the trend is being completely taken over by the big carmakers in North America,” Erwin Mayr, president of Novelis Europe said in Geneva on Sept. 18. “Americans tend to drive big cars, so they need to make them lighter. You need a lot of aluminum.”
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The price of Chinese aluminum billet rose 0.7 percent on Wednesday, September 25, making it the day’s biggest mover. The price of Chinese aluminum scrap finished the day following a 0.7 percent increase. The Chinese aluminum cash price gained 0.4 percent. The price of Chinese aluminum bar continues to hover for the fifth day in a row.
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The aluminum 3-month price weakened by 0.1 percent on the LME, settling at $1,800 per metric ton. The primary aluminum cash price showed little movement on Wednesday on the LME at $1,753 per metric ton. The Indian aluminum cash price remained essentially flat.