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.
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.
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.