Novelis to increase aluminum can purchase price

Novelis announced that it will increase the price it pays for aluminum used beverage cans by EUR 75 per tonne from November 2nd 2009. The EUR 75 increase by Novelis directly reverses the EUR 75 drop in prices made in August 2009. The price change is the 5th fluctuation so far 2009 in the price offered by the Warrington based company, which is the UK's largest recycler of UBCs. It means councils, waste management companies and Novelis' other customers will be paid EUR 600 per tonne for baled or densified and strapped cans delivered to its aggregation centers while loose cans will be worth EUR 550 per tonne. The EUR 75 increase directly reverses the EUR 75 cut to its UBC price Novelis made in August 2009 and the company's commercial manager, Mr Keith Guest explained that the increase reflected wider price changes in the price of aluminum. It's just following the market prices, we have to keep up or we don't get the volumes in. He said that the price increase could provide a welcome boost for the UK's attempts to reach its aluminum packaging recycling targets for 2009 by increasing volumes of UBCs passing through the system. Earlier this week, government figures revealed the UK appeared to be on track to meet its aluminum packaging recycling goals for 2009 but some concerns were raised that a sudden drop in prices similar to that experienced in November 2008 could dramatically change the situation. (Sourced from letsrecycle.com)