Aleris International Considers U.S. Expansion
Will Aleris International be expanding to the States? It might be in the cards… The company “is considering expanding its automotive aluminum capacity in the United States, Chairman and Chief Executive Steven Demetriou said on Monday, the latest sign that the resurgent auto sector is helping offset continued sluggish construction and packaging use,” reports Reuters.
“His upbeat outlook comes as the aluminum industry struggles with weak London Metal Exchange (LME) prices, which are close to or below the cost of many smelters’ production, as well as surplus global output capacity and a shortage of scrap metal.”
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“A switch by automakers to use lightweight aluminum in place of steel is the ‘biggest opportunity since the 1970s’, when beer can makers switched metals, Demetrious told delegates at the Platts aluminum symposium.”
In metal price news for aluminum…
The cash price of primary Indian aluminum saw the biggest decline of the day, dropping 1.0 percent to close on Monday, January 13. On the LME, the cash price of primary aluminum rose 0.2 percent to $1,716 per metric ton. On the LME, the 3-month price of aluminum gained 0.2 percent to finish at $1,760 per metric ton.
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Chinese aluminum prices were flat for the day. The price of Chinese aluminum scrap showed little movement yesterday. The price of Chinese aluminum billet remained essentially flat. The price of Chinese aluminum bar continues to hover for the fifth day in a row. The cash price of Chinese aluminum showed little movement yesterday.