Lafayette, Indiana, is now home to the world’s largest aluminum-lithium facility, a massive warehouse on a 170-acre, multi-building plot that took $90 million and two years of construction to create.
Alcoa opened the facility up to the media last week and CNBC took a tour.
Called the Casting House, the plant will forge aluminum lithium alloys to be manufactured into wing skins, fuselage skins, wing stringers, floor beams and seat tracks for commercial jets built by Boeing, Airbus and Gulfstream. Earlier this year, Alcoa announced a $1.1 billion, multiyear contract with United Technologies’ Pratt & Whitney subsidiary to produce the first-ever aluminum alloy engine fan blades.
The cash price of primary Indian aluminum saw a 0.4% drop on Friday, October 10, landing at INR 119.00 ($1.94) per kilogram and making it the biggest mover of the day. On the LME, the aluminum 3-month price rose 0.3% to $1,955 per metric ton. At $1,923, the cash price of primary aluminum finished the market day on the LME up 0.2% per metric ton.
Chinese aluminum prices closed flat for the day. For the fifth day in a row, the price of Chinese aluminum scrap remained essentially flat at CNY 12,250 ($1,995) per metric ton. The price of Chinese aluminum billet was unchanged at CNY 13,590 ($2,213) per metric ton. The price of Chinese aluminum bar continues hovering around CNY 14,200 ($2,312) per metric ton for the fifth day in a row. The Chinese aluminum cash price held steady at CNY 13,960 ($2,273) per metric ton.