Novelis announced today that it planned to expand its recycling plant in Latchford, Warrington in the UK. According to the company’s press release, “With an investment of approximately € 13.6 million (£6 million), the plant’s capacity will increase by over a third and becomes Europe’s largest closed-loop recycling operation for automotive aluminium rolled products.”
“With the commissioning in Latchford, we are expanding our recycling capabilities and developing efficient manufacturing systems along our automotive supply chain,” said Erwin Mayr, Senior Vice President and President, Novelis Europe. “Responding to the realities of our increasingly resource constrained world and demands for a more sustainable economy, Novelis is transforming its business model to be largely based on closed-loop recycling.”
“The Novelis Latchford plant currently employs approximately 135 people and processes 160,000 tonnes of aluminium annually. With the expansion to 220,000 tonnes, Novelis expects the centre to create more than 30 additional full-time jobs.”
On Friday, November 1, the day’s biggest mover was the 3-month price of aluminum, which saw a 0.8 percent decline on the LME to $1,876 per metric ton. On the LME, the cash price of primary aluminum declined 0.6 percent to $1,833 per metric ton. After falling for two days, the cash price of primary Indian aluminum rose 0.3 percent.
Chinese aluminum prices closed flat for the day. For the fifth consecutive day, the price of Chinese aluminum scrap held flat. The price of Chinese aluminum billet was essentially unchanged. The price of Chinese aluminum bar continues to hover for the fifth day in a row. The Chinese aluminum cash price held steady.