CHICAGO Novelis Inc. has
raised prices for its automotive sheet products in North
America, the company said April 23, also forecasting an
increase in metal premiums.
The fabrication price for 5182-
and 5754-series automotive alloys have been increased by 13
cents per pound and 6000-series automotive alloys by 9 cents
per pound effective for all new orders on or after April 23,
the Atlanta-based aluminum company said.
Current supply agreements will
be honored through the end of the contract period, the company
"The increase reflects the
prevailing tight supply situation and strong demand," Tom
Walpole, president of Novelis North America, said in a
statement. "Given the market dynamics, we also expect to see an
upward trend in metal premiums and production costs."
Novelis is "on track" to boost
automotive product capacity by 200,000 tonnes per year at its
facility in Oswego, N.Y., he said, adding that production
should come online in 2014.
"We remain committed to being
the aluminum sheet leader in the automotive industry," Walpole
Novelis is investing $200
million to expand its rolling operations in Oswego (
amm.com, Oct. 31).