Novelis expects to increase its production in North America from about 50,000 tons of automotive aluminum in 2013 to 260,000 tons in 2014. By 2015 the production will be increased up to 365,000 tons. Novelis is now the distributor of Ford automotive models including the Ford-150 pick up truck.
Alcoa, another Ford supplier, has already begun construction of new plants and increased production at existing ones to meet demand for Ford.
With a 1.7 percent increase over the past day, the aluminum 3-month price was the biggest mover on the LME, closing at $2,003 per metric ton on Tuesday, August 5. The Indian aluminum cash price rose 1.6 percent to INR 123.60 ($2.03) per kilogram after a two-day drop. On the LME, the cash price of primary aluminum inched up 0.7 percent to $1,978 per metric ton.
Chinese aluminum prices closed flat for the day. The price of Chinese aluminum scrap saw little movement at CNY 12,250 ($1,983) per metric ton. The price of Chinese aluminum billet was unchanged at CNY 13,590 ($2,199) per metric ton. The price of Chinese aluminum bar held steady at CNY 14,200 ($2,298) per metric ton. The cash price of Chinese aluminum saw little movement on Tuesday, closing out around CNY 13,930 ($2,255) per metric ton.