Japan’s Kobe Steel will build an aluminum sheet rolling plant in the US with around 100,000 million tons per year capacity together with trading firm Toyota Tsusho, as it focuses on producing 6000-series aluminum-magnesium-silicon alloy sheets for the US car market, Chief Executive Officer Hiroya Kawasaki said Wednesday.
In a media briefing in Tokyo, Kawasaki said the aluminum sheet rolling plant is expected to go on-stream in 2017 and details will be finalized with Toyota Tsusho by September.
“We will start expansion in the area we do well, and once that is stabilized, we will look around us for further opportunities,” Kawasaki said.
On Tuesday, July 1, the day’s biggest mover was the cash price of primary Indian aluminum, which saw a 0.5 percent increase to INR 114.20 ($1.90) per kilogram. The aluminum 3-month price flattened at $1,884 following two-days of declines on the LME. After dropping for two days on the LME, the primary aluminum cash price flattened at $1,850.
Chinese aluminum prices closed flat for the day. The price of Chinese aluminum scrap continues hovering around CNY 12,250 ($1,974) per metric ton for the fifth day in a row. The price of Chinese aluminum billet saw essentially no change for the fifth day in a row, remaining around CNY 13,590 ($2,190) per metric ton. For the fifth consecutive day, the price of Chinese aluminum bar held flat at CNY 14,200 ($2,289) per metric ton. The cash price of Chinese aluminum held steady around CNY 13,310 ($2,145) per metric ton.