Novelis will convert all of its beverage can body sheet production to its evercan sheet, the world’s first certified high-recycled content aluminum for beverage cans, by the end of 2017. Novelis President and CEO Phil Martens announced this new commitment today at JPMorgan Chase & Co.‘s Chief Sustainability Officers Summit in New York.
“The transition to a low-carbon, circular economy requires innovation and disruption to create measurable impact,” Martens said. “Our plan to produce only evercan body sheet by 2017 is a bold move that extends our leadership in sustainability and is an important part of our long-term strategy to increase the recycled content in our products to 80% by the end of the decade.”
This commitment means that all can body sheet produced by Novelis will be certified 90% recycled content, compared to the global industry average of 50%.
The day’s biggest mover was the 3-month price of aluminum which dropped by 1.3% on Wednesday, November 12 to close at $2,014 per metric ton on the LME. The cash price of primary aluminum weakened by 1.2% on the LME, settling at $2,017 per metric ton. The Indian aluminum cash price is back up, rising by 0.4% on Wednesday to close at INR 126.45 ($2.06) per kilogram.
Chinese aluminum prices were flat for the day. The price of Chinese aluminum scrap remained essentially flat at 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 saw little movement at CNY 14,200 ($2,312) per metric ton. The Chinese aluminum cash price was unchanged at CNY 13,960 ($2,273) per metric ton.