It was reported that lower scrap aluminum prices have pushed up the profits for aluminum rolling and recycling company Novelis in 2018.
Novelis is the world’s largest recycler of aluminum, with 12 recycling facilities. In North America, Novelis has mills with recycling operations located in Berea, Kentucky; Greensboro, Georgia; Russellville, Kentucky; and Oswego, New York.
In the period from April 2018 to March 2019, Novelis's net sales reached around US$12.3 billion, and its earnings reached around US$1.4 billion.
Lower scrap metal prices also pushed up the company’s profits. In addition, both increased sales volumes, and a favorable product mix also pushed up Novelis' profits. However, Novelis didn't perform well for selling for the beverage can market.
Lower aluminum prices push up Novelis' profits
16 May 2019 15:24 reported by Ivy Wei
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