This Morning in Metals: Novelis announces $375M expansion of automotive sheet operations in China

This morning in metals news: Novelis announced it will invest $375 million to expand its automotive sheet production and recycling operations in China; Glencore released its Q3 production report; and, lastly, U.S. steel imports jumped by 16% month over month in September.
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Novelis announces $375M automotive sheet expansion

Novelis logo
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Novelis on Thursday announced investment of $375 million to expand its automotive sheet production and recycling operations in China.
“The expansion includes upgrades to the existing hot mill, a new cold mill, and a new recycling and casting center, which will allow the company to implement closed-loop recycling partnerships with automotive customers in Asia,” Novelis said. “Recycling aluminum uses 95% less energy than primary aluminum production and is a key component of Novelis’ sustainability commitment to reduce carbon emissions 30% by 2026 and become carbon neutral by 2050.”
Novelis said it expects to break ground on the project in early 2022 and complete it by mid-2024.

Glencore announces production results

In the year to date, Glencoe reported copper production of 895.5 kt, down 4% year over year.
Meanwhile, the miner tallied 23.4 kt of cobalt, good for an 8% year-over-year increase.
Zinc output held flat at 855.8 kt.

Steel imports rise in September

U.S. steel imports in September reached 2.9 million metric tons, the Census Bureau reported this week. The total increased from 2.5 million metric tons in August.
Imports of blooms, billets and slabs increased 15.4% to 695,029 metric tons. Rebar imports rose 69.7% to 143,950 metric tons.
Imports of oil country goods surged by 104.4% to 221,599 metric tons.
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