Novelis forges on despite LME woes: Martens

May 15, 2013 | 04:26 PM | Michael Cowden

Tags  Novelis, Philip Martens, exclusive, LME, aluminum prices, forecast, scrap, scrap prices SAP

CHICAGO — Aluminum prices on the London Metal Exchange might not improve for a year or more, but that won’t change Novelis Inc.’s plans for growth, president and chief executive officer Philip Martens said.

In fact, the trend of weak aluminum prices only serves as a catalyst for the Atlanta-based company to push toward using more recycled material, Martens told AMM in an interview.

Aluminum prices on the LME have mostly fluctuated between about $1,850 per tonne and $1,900 per tonne during the past year, Martens said, and "I don’t see any market dynamics that are going to change that over the next 12 months or so."

"Nobody has a crystal ball. ... But we’ve adjusted our business to that (price level), and that’s one of the reasons we’ve accelerated recycling," Martens said.....

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