Novelis forges on despite LME woes: Martens
May 15, 2013 | 04:26 PM
| Michael Cowden
CHICAGO Aluminum prices on the London Metal Exchange might not improve for a year or more, but that wont 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 dont see any market dynamics that are going to change that over the next 12 months or so."
"Nobody has a crystal ball. ... But weve adjusted our business to that (price level), and thats one of the reasons weve accelerated recycling," Martens said.....
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