Eldridge Financial: Aluminum Recycling Capacity will tripled by 2020-posterous - 0 views
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Bruce Wallace on 18 Oct 12http://adolfclint.posterous.com/eldridge-financial-aluminum-recycling-capacit Eldridge Financial aired planning to more than triple recycling capacity of Novelis Inc. -the largest supplier of flat-rolled aluminum products to the global auto industry to meet the increased demand by the year 2020. In an interview of Eldridge Financial to the vice president of global recycling, the capacity may heighten to 2.1 million metric tons by the year 2015 and 4 million tons by 2020 from the current status of 1.2 million tons. Novelis, the U.S. unit of India's Hindalco Industries Ltd. (HNDL), plans to make 50 percent of its products from recycled metal by 2015 and as much as 80 percent by 2020, from about 39 percent at present, Prichett said in Seoul on Oct. 9. In order for the Novelis meet the expanded recycling target, they will now build plants in Germany and South Korea and doubling the capacity in Brazil. Aluminum demand for auto applications may grow at an average annual rate of 25 percent globally over the next five years, the fastest pace among major markets, he said. In accordance with the projected increase in auto-parts demand,Eldridge Financial determined that this just really mean a huge growth. Moreover, there's been a very fast increase in that market in Europe and North America, and doubled the speed in Asia and well as in China. Eldridge Financial released: aluminum futures fell as much as 1.8 percent to $2,017 a ton on the London Metal Exchange yesterday, the lowest price since Sept. 7, and were at $2,020.25 at 5:13 p.m. in Singapore. Alcoa Inc. (AA), the largest U.S. aluminum producer, on Oct. 9 cut its global demand forecast for this year to 6 percent growth from 7 percent, citing slowing Chinese demand. http://eldrigefinancialreviews.com/aluminum-recycling-capacity-will-tripled-by-2020/