Novelis has been accepted into the World Wildlife Fund’s Climate Savers program, making the aluminum rolling and recycling firm the only metals company to be accepted into the program.
As part of its participation in the program, Novelis has established Climate Savers commitments that align with its established sustainability agenda. By 2020, the company will reduce the carbon emissions from its operations by 10 percent, reduce absolute carbon emissions by 50 percent and increase recycled content of its products to 80 percent.
The baseline year for all three targets is the average of fiscal years 2007-2009.
Since announcing its sustainability goals in 2011, Novelis has increased the recycled content of its products from 33 percent to 46 percent.
The aluminum 3-month price saw a 1.3 percent drop on the LME on Tuesday, September 23, landing at $1,957 per metric ton and making it the biggest mover of the day. The primary aluminum cash price saw a 1.2 percent decline on the LME to $1,925 per metric ton. The cash price of primary Indian aluminum weakened by 1.2 percent, settling at INR 120.25 ($1.97) per kilogram.
Chinese aluminum prices closed flat for the day. The price of Chinese aluminum scrap saw essentially no change for the fifth day in a row, remaining around CNY 12,250 ($1,995) per metric ton. The price of Chinese aluminum billet continues hovering around CNY 13,590 ($2,213) per metric ton for the fifth day in a row. The price of Chinese aluminum bar held steady at CNY 14,200 ($2,313) per metric ton. For the fifth day in a row, the cash price of Chinese aluminum remained essentially flat at CNY 13,960 ($2,274) per metric ton.