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Novelis Predicts Its Auto Aluminum Sales Will Nearly Triple
Novelis Inc. tells Bloomberg News the proportion of its sales of aluminum sheet to carmakers will jump from 9% today to 25%, or 270,000 tons, by 2020.
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Novelis Inc. tells Bloomberg News the proportion of its sales of aluminum sheet to carmakers will jump from 9% today to 25%, or 270,000 tons, by 2020.
The Atlanta-based company currently ships about 3 million tons of aluminum per year, including 1.8 million tons of less profitable sheet aluminum for cans.
Novelis predicts the global market for automotive aluminum sheet will grow by a factor of five to 1.8 million tons in the next five years.
Demand is being driven by rising fuel economy standards in Europe and the U.S. that are pushing carmakers to switch from steel to lighter materials. Novelis is a supplier for Ford Motor Co.'s upcoming aluminum-intensive F-150 pickup truck.
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