Sydney (Platts)--15Nov2012/335 am EST/835 GMT
US aluminum sheet maker Novelis said it broke ground Thursday on the company's first aluminum sheet plant in China, which is scheduled for startup in late 2014. The $100 million investment in Changzhou, Jiangsu province, will be able to produce 120,000 mt/year of rolled aluminum used in the automotive industry. Novelis plans to ship rolled aluminum coils manufactured at its South Korean operations to the Changzhou plant for heat treatment and finishing, before delivery to automotive customers within China and export markets. Article continues below...Sign up to Metals DailyPlatts Metals Daily offers prices, news and analysis for the aluminum, copper and molybdenum value chains. It contains hundreds of metals prices across base, minor, light and precious metals assessed by editors globally. This detailed report will help you monitor global events and quickly spot opportunities or potential pitfalls as well as bring you aluminum and copper price and news coverage. Daily prices and news for molybdenum are also covered to deliver critical insights.
US aluminum sheet maker Novelis said it broke ground Thursday on the company's first aluminum sheet plant in China, which is scheduled for startup in late 2014. The $100 million investment in Changzhou, Jiangsu province, will be able to produce 120,000 mt/year of rolled aluminum used in the automotive industry. Novelis plans to ship rolled aluminum coils manufactured at its South Korean operations to the Changzhou plant for heat treatment and finishing, before delivery to automotive customers within China and export markets.
Article continues below...
Platts Metals Daily offers prices, news and analysis for the aluminum, copper and molybdenum value chains. It contains hundreds of metals prices across base, minor, light and precious metals assessed by editors globally. This detailed report will help you monitor global events and quickly spot opportunities or potential pitfalls as well as bring you aluminum and copper price and news coverage. Daily prices and news for molybdenum are also covered to deliver critical insights.
The Changzhou plant will be close to vital rail lines and the Changzhou deep water port on the Yangtze River. Novelis China Managing Director James Liu said the company expects Chinese demand for automotive aluminum sheet to exceed a 25% compound annual growth rate over the next five years, as auto manufacturers strive for to churn out lighter, more fuel-efficient vehicles. According to Novelis, every kilogram of aluminum substituted for traditional steel in a vehicle saves more than nine kilograms of carbon dioxide emissions over the lifetime of a vehicle. This translates to 3,000 liters of fuel savings over the lifecycle, the company also said. Additionally, Novelis will recover aluminum scrap and in its production of aluminum sheet. The company has a global target to increase its recycled content across all products to 80% by the year 2020.--Joanna Lim, joanna_lim@platts.com --Edited by Robert DiNardo, robert_dinardo@platts.com
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