Pittsburgh-based American Specialty Alloys issued a news release Monday saying that it is planning to build a $1.2 billion, aluminum mini-mill “in the Southeastern United States.”
While not naming the exact location in the release, the company has applied with the Mississippi Department of Environmental Quality for permission to prepare a site on the Tennessee-Tombigbee Waterway at Columbus, Miss., the Mississippi Business Journal reported.
The 1.4 million square foot plant will annually produce 600 tons of flat-rolled aluminum used in the manufacture of vehicle bodies, a trend boosted by the decision to use aluminum in the manufacture of the 2015 Ford F-150 pickup. The switch from rolled steel to aluminum will be done in order to meet more-stringent environmental standards.
The first phase of the plant is expected to be completed in late 2016 and will employ between 650 and 850 when full operations reached six months later. About 2,000 construction jobs will be created.
The cash price of primary aluminum saw a 1.4% increase on Tuesday, November 18, reaching $2,049 per metric ton on the LME and making it the biggest mover for the day. On the LME, the aluminum 3-month price rose 1.1% to $2,039 per metric ton. The Indian aluminum cash price inched up 0.6% to INR 126.35 ($2.04) per kilogram.
Chinese aluminum prices closed flat for the day. At CNY 13,000 ($2,123) per metric ton, the price of Chinese aluminum scrap was essentially unchanged. Chinese aluminum billet saw little change in its price on Tuesday at CNY 13,900 ($2,270) per metric ton. The price of Chinese aluminum bar was unchanged at CNY 14,200 ($2,319) per metric ton. The cash price of Chinese aluminum held steady yesterday, remaining around CNY 13,670 ($2,232) per metric ton.