Constellium N.V., a European multinational, and Japan’s UACJ Corp. will build a $150 million aluminum production facility in Bowling Green’s Kentucky Transpark, creating 80 jobs, the Park City (Ky.) Daily News reported today.
The announcement follows a joint venture agreement between the two companies to supply aluminum Body-in-White sheet to the North American automotive industry. The finalization of the joint venture remains subject to regulatory approvals, which are expected in the second half of 2014.
“This project is very significant for UACJ in terms of our Body-in-White market strategy. We look forward to supplying automotive (companies) throughout the U.S. with advanced products utilizing the technologies each party has separately developed in EU and Japan. We welcome this joint venture with Constellium to tackle the strategic automotive market in the U.S.,” Mitsuru Okada, CEO of UACJ, stated in a news release.
With a decline of 3.5 percent to INR 106.25 ($1.77) per kilogram on Thursday, May 8, the Indian aluminum cash price recorded the biggest decline of the day. The primary aluminum cash price saw a 1.2 percent decline on the LME to $1,729 per metric ton. The 3-month price of aluminum weakened by 1.0 percent on the LME, settling at $1,773 per metric ton.
Chinese aluminum prices closed flat for the day. For the fifth consecutive day, the price of Chinese aluminum scrap held flat at CNY 12,250 ($1,964) per metric ton. The price of Chinese aluminum billet was unchanged at CNY 13,590 ($2,179) per metric ton. The price of Chinese aluminum bar saw essentially no change for the fifth day in a row, remaining around CNY 14,200 ($2,277) per metric ton. The Chinese aluminum cash price remained essentially flat at CNY 13,240 ($2,123) per metric ton.