Investments in automotive aluminum keep popping up in MetalCrawler.
Constellium Expands Plant
Aluminum manufacturer Constellium recently said it has invested $40 million for a 210,000-square-foot expansion of its Detroit are plant to meet the increasing demand for aluminum by automotive manufacturers.
Constellium has hired nearly 200 additional workers at the Van Buren site and will employ a total of 370 there after it hires about 20 additional workers.
Freeport Plans to Expand
Freeport McMoRan Inc. is expanding and that has it poised to become the world’s biggest copper producer at a time of slowing China growth.
The Phoenix-based company will close the gap with current world No. 1 Codelco next year after expanding mines in Peru and the US and as the Chilean state-owned company runs out of profitable ore at a mine in the Atacama Desert.
US Dollar Climbing Again
Gold eased Monday as the US dollar gained ground against other currencies, sapping foreign investors’ interest in the dollar-denominated metal.
The most actively traded contract, for June delivery, was recently down 0.2% at $1,202.20 a troy ounce on the Comex division of the New York Mercantile Exchange.
The Wall Street Journal Dollar Index, which tracks the dollar against a basket of other currencies, was recently up 0.2% at 88.35. The dollar neared a 12-year high against the euro and advanced against the Indian rupee and the South African rand.