Kentucky Mill Outage Forces Novelis to Import Aluminum Can Sheet

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Source: Novelis

Novelis Inc. was forced to import aluminum can sheet from Asia and South America to make up for lost output from a 3-week outage at its US joint venture rolling mill in January, Chief Executive Officer Phil Martens said on Monday.

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The mill, which Novelis co-owns with Tri Arrows Aluminum, lost 20,000-25,000 tons of can sheet, Martens said in a conference call after the release of third-quarter to end-December results for the world’s No. 1 flat-rolled products maker. Novelis brought in can sheet from its own operations in Asia and South America after the Russellville, Ky.-based Logan Aluminum mill’s “unexpected” outage between Dec. 29 and Jan. 17, Martens said.

Novelis reported net income of $46 million in the third quarter, up from $13 million in the same period the prior year, driven by an increase in shipments of rolled aluminum products.

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The cash price of primary Chinese aluminum saw the biggest upwards shift for the day, rising 0.8% to close at CNY 13,120 ($2,098) per metric ton on Friday, February 6. Chinese aluminum bar prices inched up 0.8% to CNY 13,130 ($2,100) per metric ton. After a 0.8% increase, Chinese aluminum scrap finished the day at CNY 12,600 ($2,015) per metric ton. The price of Chinese aluminum billet saw essentially no change for the fifth day in a row, remaining around CNY 13,200 ($2,111) per metric ton.

The aluminum 3-month price saw a 0.7% decline on the LME to $1,862 per metric ton. The cash price of primary aluminum weakened by 0.7% on the LME, settling at $1,849 per metric ton. The Indian aluminum cash price increased 0.5% to INR 117.00 ($1.90) per kilogram.

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