UACJ Corp., the world’s third-biggest producer of rolled aluminum products, will expand its capacity for sheets used in liquefied natural gas carriers by 50 percent next year to meet rising tanker demand.
Bloomberg News reported that the Tokyo-based company will increase annual output capacity for rolled aluminum used in the ships to 54,000 metric tons by the end of September 2015, from 36,000 tons now, Makoto Yakata, general manager at UACJ’s sales planning department, said in an interview.
Dropping 2.2 percent, the cash price of primary Indian aluminum was the biggest mover on Friday, September 19, closing at INR 121.90 ($2.01) per kilogram. The 3-month price of aluminum saw a 1.1 percent decline on the LME to $1,983 per metric ton. The cash price of primary aluminum weakened by 1.0 percent on the LME, settling at $1,950 per metric ton.
Chinese aluminum prices were flat for the day. The price of Chinese aluminum scrap remained essentially flat at CNY 12,250 ($1,995) per metric ton. For the fifth consecutive day, the price of Chinese aluminum billet held flat at CNY 13,590 ($2,213) per metric ton. The price of Chinese aluminum bar held steady at CNY 14,200 ($2,313) per metric ton. The Chinese aluminum cash price remained essentially flat at CNY 13,960 ($2,274) per metric ton.