Novelis Inc. recently unveiled a newly built $48 million aluminum recycling facility at its giant aluminum smelting facility near Oswego, New York, on Monday.
The 81,000-square-foot new facility melts down scrap automotive aluminum and turns it into new aluminum. Up to 40 trailers, or 1 million pounds of automotive scrap, can be handled by the facility each day.
Much of the scrap initially being processed by the facility is coming from a Ford plant in Dearborn, Mich., that makes body panels for the 2015 F-150 pickup. Novelis has invested $400 million into its 1.6-million-square-foot plant over the last five years to fit it to supply aluminum to automakers such as Ford.
On Tuesday, January 27, the day’s biggest mover was the price of Chinese aluminum scrap, which saw a 0.8% decline to CNY 12,200 ($1,950) per metric ton. This was the first move after three changeless days. The cash price of Chinese aluminum gained 0.5% to finish at CNY 12,750 ($2,038) per metric ton. Chinese aluminum bar prices rose 0.5% to CNY 12,760 ($2,040) per metric ton. For the fifth day in a row, the price of Chinese aluminum billet remained essentially flat at CNY 13,200 ($2,110) per metric ton.
On the LME, the primary aluminum cash price declined 0.7% to $1,818 per metric ton. The aluminum 3-month price weakened by 0.4% on the LME, settling at $1,828 per metric ton. The cash price of primary Indian aluminum fell 0.1% to INR 114.25 ($1.86) per kilogram.