Novelis Makes $106 Million Investment in Brazilian Aluminum Recycling Plant

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Source: Novelis

Novelis recently announced that it will increase the annual capacity of its recycling complex at Pindamonhangaba, Brazil, from 200,000 to 390,000 metric tons when fully commissioned later this year at a cost of $106 million for the projects.

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The investment in the recycling center supports the company’s long-term commitment to increasing the recycled content in its products to 80 percent by 2020. The plant’s recycling center is already the largest in South America.

The initiative also includes a new coating line for beverage can end stock that will add 100,000 metric tons of coating capacity to the operation.

The addition of the new line doubles the company’s capacity to supply coated can end stock and enables Novelis to deliver directly to can customers in the region, a function previously provided by a third-party partner.

The Indian aluminum cash price saw the biggest increase at 2.0 percent, finishing at INR 127.95 ($2.11) per kilogram for Monday, September 1. After a 1.1 percent increase, the aluminum 3-month price finished the day on the LME at $2,113 per metric ton. On the LME, the primary aluminum cash price rose 0.3 percent to $2,114 per metric ton.

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Chinese aluminum prices closed flat for the day. The price of Chinese aluminum scrap was unchanged at CNY 12,250 ($1,994) per metric ton. For the fifth consecutive day, the price of Chinese aluminum billet held flat at CNY 13,590 ($2,212) per metric ton. For the fifth day in a row, the price of Chinese aluminum bar remained essentially flat at CNY 14,200 ($2,312) per metric ton. The cash price of Chinese aluminum held steady at CNY 13,960 ($2,273) per metric ton.

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