Bermco Aluminum has invested $5 million on upgrades at its Birmingham, Ala., facility.
The Birmingham Business Journal reported that the manufacturer of secondary aluminum alloys, said the upgrades include two 220,000-pound furnaces, including one that began operating earlier in 2014. Bermco’s project also included another 220,000 furnace, as well as a new pollution control system that handles the operation of both reverberatory furnaces and its rotary furnace simultaneously.
The aluminum cash price saw the biggest decline of the day, dropping 3.5 percent on the LME to close at $2,012 per metric ton on Thursday, September 11. The 3-month price of aluminum saw a 2.7 percent decline on the LME to $2,051 per metric ton. The cash price of primary Indian aluminum declined 0.3 percent to INR 126.70 ($2.08) per kilogram.
Chinese aluminum prices closed flat for the day. The price of Chinese aluminum scrap was unchanged at CNY 12,250 ($1,998) per metric ton. The price of Chinese aluminum billet saw little movement at CNY 13,590 ($2,217) per metric ton. For the fifth day in a row, the price of Chinese aluminum bar remained essentially flat at CNY 14,200 ($2,316) per metric ton. The cash price of Chinese aluminum saw essentially no change for the fifth day in a row, remaining around CNY 13,960 ($2,277) per metric ton.