After China cut some illegal capacity, aluminum hit a price of $2,000/ton in August for the first time since 2014. In addition to capacity cuts, increased demand in both automotive and aerospace is contributing to the price increases. Read more here.
Novelis believes that there is growth opportunity in China and plans to expand investment in the automotive industry, particularly the electric-vehicle (EV) sector. Learn more about what is driving the move to EVs in China.