Novelis concludes capacity expansion in Brazil, plans further increase

United States-based aluminium producer Novelis has concluded a $175 million capacity expansion project in Brazil and was already studying further increases to meet growing demand in the country for aluminium cans, its local vice-president for procurement, Alfredo Veiga, told Fastmarkets on Wednesday September 1.

The company disclosed in November 2018 its plans to raise rolling capacity by 100,000 tonnes per year to 680,000 tpy, and recycling capacity by 60,000 tpy to 450,000 tpy. That update, however, actually increased recycling capacity to 490,000 tpy.
The project focused on new remelting and recycling lines, rather than new rolling equipment.
"Those areas now have the necessary scope [of production], so we need to move forward to rolling equipment," Veiga said in an interview. "There are new can factories coming online soon, and they can begin construction and initiate production much faster than our new facilities, so we need to think ahead."

According to Brazilian aluminium can...

Monetary-driven precious metals outperform major base metals

Gold stocks hit by plunging equities markets

Gold stocks down as metal and equities momentum fades

Another Kazatomprom guidance announcement shakes uranium price

Major monetary drivers still supporting gold