Amsterdam-based Constellium NV, one of the world’s biggest aluminum companies, will shift its focus to the US from Europe, Chief Executive Pierre Vareille said in an interview with the Wall Street Journal.
Car makers are increasingly using aluminum instead of steel as they try to meet new government fuel-efficiency standards by making cars lighter. By 2025, 18% of all vehicles in the US will have all-aluminum bodies, compared with less than 1% now, according to Ducker Worldwide, a consulting and market-research firm.
“In Europe, for the time being the cars that have switched to aluminum are high brand,” Mr. Vareille told the WSJ. “In this country, it’s the high sellers, and it’s been very brutal, very quick.”
On Tuesday, January 6, the day’s biggest mover was the price of Chinese aluminum scrap, which saw a 1.6% decline to CNY 12,400 ($1,993) per metric ton. This was the first move after three changeless days. The Chinese aluminum cash price declined 0.5% to CNY 12,810 ($2,059) per metric ton. Chinese aluminum bar saw its price drop 0.5% to a 30-day low of CNY 12,820 ($2,061) per metric ton yesterday. The price of Chinese aluminum billet saw essentially no change for the fifth day in a row, remaining around CNY 13,200 ($2,122) per metric ton.
Declining prices continue for the cash price of primary aluminum on the LME. It closed at $1,793 per metric ton only after falling further, this time by. The aluminum 3-month price saw a 1.4% decline on the LME to $1,822 per metric ton. The Indian aluminum cash price weakened by 0.6%, settling at INR 115.70 ($1.82) per kilogram.