Novelis, the world’s biggest supplier of aluminum sheets to automakers, expects sales to customers including Audi AG and Ford Motor Co. to rise almost three-fold as new emissions rules restrict the use of steel. Shipments of automotive aluminum may climb to as much as 25% of total sales by 2020 from the current 9% of 3 million metric tons, Novelis vice chairman Debnarayan Bhattacharya said on Thursday in an interview with the Hindu Businessline in Mumbai. “The share of beverage cans, which are less profitable, will fall to 50% from about 60%.”
The aluminum cash price saw the biggest increase at 1.1 percent on the LME, finishing at $2,058 per metric ton for Friday, August 22. At $2,068, the 3-month price of aluminum finished the market day on the LME up 0.7 percent per metric ton. Following two days of rising prices, the Indian aluminum cash price dropped 0.2 percent to INR 125.80 ($2.08) per kilogram.
Chinese aluminum prices closed flat for the day. The price of Chinese aluminum scrap held steady at CNY 12,250 ($1,991) per metric ton. The price of Chinese aluminum billet saw little movement at CNY 13,590 ($2,209) per metric ton. The price of Chinese aluminum bar continues hovering around CNY 14,200 ($2,308) per metric ton for the fifth day in a row. For the fifth day in a row, the Chinese aluminum cash price remained essentially flat at CNY 13,960 ($2,269) per metric ton.