Novelis, the world leader in aluminum rolling and recycling, announced price increases on its North American Automotive and Specialty aluminum sheet products for all new orders effective immediately. All existing orders and firm agreements confirmed prior to August 7th 2014 will be honored throughout the contract period.
|6xxx series automotive alloys||+USD 0.06/lb|
|5xxx series automotive alloys||+USD 0.06/lb|
|1xxx and 3xxx series alloys||+USD 0.05/lb|
|5xxx series||+USD 0.03/lb|
The Automotive price increase is in addition to the previously announced pricing adjustment made on January 1st 2014 of USD 0.11 per pound for 6000 series, 5182 series and 5000 series coated Automotive alloys.
Mr Marco Palmieri senior VP of Novelis and President, Novelis North America said that “To support the rapidly growing automotive market demand, Novelis remains committed as the industry leader in announced capacity investments in North America, Europe and Asia. In North America, we’ve commissioned two new auto finishing lines in Oswego, New York that are in full production and are completing construction of a third auto finishing line increasing our regional capacity by up to 360,000 tons per year. That’s seven times our current production capacity and an important milestone to remain the industry leader as North American automotive market demand is expected to increase twenty-fold in the next 10 years.”
Source – Strategic Research Institute