Alcoa Investing $25 Million in Virginia Jet Engine Plant

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Alcoa recently announced that it is expanding the Alcoa Power and Propulsion facility, located in Hampton, Va. The company will invest $25 million to scale-up a process technology that will reduce the weight of its jet engine blades by 20%, and significantly improve their aerodynamic performance. The company will add equipment for a new production line and modify existing machinery at the Hampton facility to produce the blades.

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The expansion of its Hampton facility is consistent with the company’s strategy of focusing on its value-added products, in view of a subdued pricing environment for aluminum affecting its upstream businesses.

Following two days of increases, the cash price of primary Indian aluminum dropped by 0.8 percent to end at INR 114.30 ($1.90) per kilogram on Monday, June 23. The primary aluminum cash price ended a two-day climb, settling at $1,845 per metric ton on the LME. Following a two-day rise on the LME, the aluminum 3-month price flattened at $1,885.

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Chinese aluminum prices closed flat for the day. The cash price of Chinese aluminum saw little change in its price yesterday at CNY 13,350 ($2,145) per metric ton. The price of Chinese aluminum scrap held steady at CNY 12,250 ($1,968) per metric ton. The price of Chinese aluminum billet remained essentially flat at CNY 13,590 ($2,183) per metric ton. The price of Chinese aluminum bar saw little movement at CNY 14,200 ($2,281) per metric ton.

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