Alcoa Opens Lithium-Aluminum Aerospace Plant, Novelis Shows Off Recycling Prowess

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Alcoa officially unveiled the world’s largest aluminum-lithium facility, a massive warehouse on a 170-acre, multi-building campus that took $90 million and 2 years of construction to create this week. It’s 1 of three such facilities the aluminum giant is developing to better service the aerospace industry.

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Not to be outdone, 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.

After falling 5.0%, European 1050 aluminum landed at EUR 2,365 ($2,986) per metric ton and making it the week’s biggest mover on the weekly Aluminum MMI®. Following a 2.4% increase, European 5083 plate finished the week at EUR 2,841 ($3,588) per metric ton. Prices for Korean 3003 coil premium over 1050 sheet remained constant, closing the week at KRW 3,740 ($3.56) per kilogram. Closing at KRW 3,890 ($3.71) per kilogram, Korean 5052 coil premium over 1050 sheet remained unchanged for the week.

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Chinese aluminum prices were flat for the week. The cash price of Chinese aluminum remained steady from the previous week at CNY 13,960 ($2,274) per metric ton. At CNY 14,200 ($2,313) per metric ton, the price of Chinese aluminum bar did not change since the previous week. Closing at CNY 13,590 ($2,214) per metric ton, Chinese aluminum billet remained unchanged for the week.

At $1,898 per metric ton, the primary aluminum cash price finished the week down 1.2% on the LME. For the third week in a row, the aluminum 3-month price dropped, falling 1.2% on the LME to $1,933 per metric ton. The cash price of primary Indian aluminum rose 0.6% to INR 120.55 ($1.95) per kilogram after falling 3.9% during the previous week.

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