Novelis Increases Prices for Automotive Aluminum Sheet Products in North America
ATLANTA--April 23, 2013: Novelis today announced price increases on its automotive aluminum sheet products in North America. The fabrication price will increase by $0.13 per pound for 5182-series and 5754-series automotive alloys, and by $0.09 per pound for 6000-series automotive alloys.
The price changes are effective immediately for all new orders on or after April 23, 2013. Novelis fabrication pricing for specified volumes under current supply agreements will be honored for the contract period.
"This increase reflects the prevailing tight supply situation and strong demand," said Tom Walpole, President, Novelis North America. "Given the market dynamics, we also expect to see an upward trend in metal premiums and production costs."
"We are on track with our 200,000 tonnes/year automotive capacity expansion that will come on-line in Oswego, New York, in 2014," added Walpole, "and we remain committed to being the aluminum sheet leader in the automotive industry."