Novelis has opened the world’s largest aluminum recycling center. Located adjacent to the company’s rolling mill in Nachterstedt, Germany, the $258 million (€200 million) recycling center will process up to 400,000 metric tons of aluminum scrap annually, turning it back into high-value aluminum ingots to feed the company’s European manufacturing network.
The Nachterstedt Recycling Center features state-of-the-art technology for aluminum scrap sorting, de-coating, melting and casting. The facility gives Novelis the flexibility to process a wide range of scrap types, creating a more efficient closed-loop recycling system and increasing Europe’s domestic scrap consumption. Approximately 200 employees will work at the new facility.
The cash price of primary aluminum saw a 0.6% decline on the LME to $1,913 per metric ton. On the LME, the aluminum 3-month price fell 0.5% to $1,947 per metric ton. Following a three-day flat streak, the cash price of primary Indian aluminum climbed by 1.4% to end at INR 121.50 ($1.97) per kilogram on Tuesday, September 30.
Chinese aluminum prices closed flat for the day. The price of Chinese aluminum scrap saw little movement at CNY 12,250 ($1,992) per metric ton. The price of Chinese aluminum billet remained essentially flat at CNY 13,590 ($2,210) per metric ton. For the fifth day in a row, the price of Chinese aluminum bar remained essentially flat at CNY 14,200 ($2,309) per metric ton. For the fifth consecutive day, the Chinese aluminum cash price held flat at CNY 13,960 ($2,270) per metric ton.