Novelis Prepares German Automotive Aluminum Line, Aluminum Up on LME

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Novelis recently broke ground for an $85 million automotive sheet finishing line at its Nachterstedt, Germany, facility. It will increase increase Novelis’ annual automotive capacity by 120,000 metric tons as the company looks to capture a lucrative chunk of the automotive aluminum marketplace when 2015 corporate average fuel economy (CAFE) standards that demand lighter car and truck bodies kick in.

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The Indian aluminum cash price saw the biggest increase at 2.6 percent, finishing at INR 112.30 ($1.86) per kilogram for Friday, April 4. On the LME, the primary aluminum cash price rose 0.3 percent to $1,782 per metric ton. At $1,822, the aluminum 3-month price finished the market day on the LME up 0.3 percent per metric ton.

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Chinese aluminum prices were mixed for the day. The Chinese aluminum cash price gained 0.4 percent to finish at CNY 12,740 ($2,051) per metric ton. The price of Chinese aluminum scrap continues hovering around CNY 12,250 ($1,973) per metric ton for the fifth day in a row. The price of Chinese aluminum billet was unchanged at CNY 13,590 ($2,188) per metric ton. For the fifth consecutive day, the price of Chinese aluminum bar held flat at CNY 14,200 ($2,287) per metric ton.

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