Aluminum Slips, Novelis Gets First 90% Recycled Can Customer

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Source: Novelis

Novelis got its first customer for evercan, the first 90 percent recycled aluminum beverage can on the market. Red Hare craft beer is packaging its products in cans made of Novelis’ evercan aluminum sheet, which is made of a guaranteed minimum 90 percent recycled content. It is expected to be on store shelves beginning in May 2014 in key markets throughout the southeastern US.

“This introduction marks the commercial availability of the world’s first certified high-recycled content aluminum beverage can,” said Phil Martens, President/CEO of Novelis. “Working with Red Hare, we have developed a proven supply chain to deliver this industry-first offering to consumers, setting an example that other beverage companies are sure to follow.”

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The Indian aluminum cash price saw a 1.9 percent increase on Wednesday, April 9, reaching INR 110.05 ($1.83) per kilogram and making it the biggest mover for the day. On the LME, the 3-month price of aluminum fell 0.8 percent to $1,815 per metric ton. The primary aluminum cash price weakened by 0.5 percent on the LME, settling at $1,785 per metric ton.

* Get the complete prices every day on the MetalMiner IndX℠

Chinese aluminum prices closed flat for the day. The cash price of Chinese aluminum saw little price change yesterday at CNY 12,770 ($2,061) per metric ton. For the fifth consecutive day, the price of Chinese aluminum scrap held flat at CNY 12,250 ($1,977) per metric ton. The price of Chinese aluminum billet remained essentially flat at CNY 13,590 ($2,193) per metric ton. For the fifth day in a row, the price of Chinese aluminum bar remained essentially flat at CNY 14,200 ($2,292) per metric ton.

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