Novelis has raised prices on its North American automotive and specialty aluminum sheet products for all new orders effective August 7 (yesterday). All existing orders and agreements confirmed prior to yestereday will be honored throughout the contract period.
In automotive, Novelis’ prices for 6 series and 5 series automotive alloys have increased by 6 cents/lb. and 6061-O prices up 3 cents/lb.
With a 1.6 percent increase over the past day, the Indian aluminum cash price was the biggest mover, closing at INR 125.20 ($2.04) per kilogram on Thursday, August 7. The 3-month price of aluminum closed at $1,993 per metric ton. Following a couple days of improvement, the metal’s price weakened by 1.0 percent on the LME. Weakening prices followed two days of improvement as the primary aluminum cash price dropped 0.9 percent on the LME to $1,983 per metric ton.
Chinese aluminum prices were flat for the day. For the fifth day in a row, the price of Chinese aluminum scrap remained essentially flat at CNY 12,250 ($1,988) per metric ton. The price of Chinese aluminum billet held steady at CNY 13,590 ($2,205) per metric ton. The price of Chinese aluminum bar was unchanged at CNY 14,200 ($2,304) per metric ton. The cash price of Chinese aluminum saw little price change on Thursday at CNY 13,960 ($2,265) per metric ton.