Novelis is having trouble finding buyers for its 90% recyclable Evercan beverage can sheet product. None of the world’s major beverage companies have adopted the Evercan. So far, the product has just one customer: Red Hare Brewing Co., a small craft brewer based in Marietta, Ga.
Since 2012 the Atlanta-based company has invested half a billion dollars in recycling by building, among other things, the world’s biggest aluminum recycling plant. This $260m high-tech marvel officially opened earlier this month in Nachterstedt, Germany. The major beer and cola manufacturers are not yet ready to adopt the product. The Guardian reported that Coca-Cola and Pepsico both do not want to be dependent on a single supplier such as Novelis for their aluminum needs, while MillerCoors and ABInbev would not even comment.
On Thursday, October 30, the Indian aluminum cash price experienced the biggest change, rising 2.0% to INR 125.40 ($2.05) per kilogram. After a 1.1% increase, the cash price of primary aluminum finished the day on the LME at $2,012 per metric ton. At $2,014, the 3-month price of aluminum finished the market day on the LME up 0.9% per metric ton.
Chinese aluminum prices were flat for the day. For the fifth consecutive day, the price of Chinese aluminum scrap held flat at CNY 12,250 ($1,995) per metric ton. The price of Chinese aluminum billet saw essentially no change for the fifth day in a row, remaining around CNY 13,590 ($2,213) per metric ton. The price of Chinese aluminum bar saw little movement at CNY 14,200 ($2,312) per metric ton. For the fifth day in a row, the Chinese aluminum cash price remained essentially flat at CNY 13,960 ($2,273) per metric ton.