The cash price of primary Indian aluminum moved up 2.3 percent on Thursday, March 20, making it the day’s biggest mover. On the LME, the primary aluminum cash price fell 1.1 percent to $1,672 per metric ton. On the LME, the 3-month price of aluminum declined 1 percent to $1,715 per metric ton.
Alcoa is investing $13 million to expand its wheel manufacturing plant in Hungary, to meet growing demand for its lightweight, durable, aluminum truck wheels.
The expansion of the Székesfehérvár, Hungary facility will enable Alcoa to produce twice as many surface-treated wheels in Europe by early 2015, compared with current production levels. Wheels are one of several products Alcoa is attempting to increase sales of in the automotive sector.
Chinese aluminum prices were mixed for the day. After falling 0.2 percent, the Chinese aluminum cash price reached a 30-day low. The price of Chinese aluminum scrap was unchanged. The price of Chinese aluminum billet remained essentially flat. The price of Chinese aluminum bar saw little movement.