Novelis has increased the amount paid for sourced aluminium UBC to the highest level ever afforded for cans in the UK.
In reflecting the high price of the resource on the London Metals Exchange (LME), the amount paid for baled and densified has risen from £950/tonne to £1050/tonne, while the value of loose cans has also soared by £100/tonne to £1000/tonne.
Novelis national manager Andy Doran said: “These are now the highest prices ever afforded for cans in this country and offer a very good deal for UK can recyclers.
The move to higher prices follows the increase in capacity at Novelis’ Latchford Locks plant in Warrington to take 120,000 tonnes of aluminium cans per year.
Doran added: “We have increased capacity over the last 18 months and hope to keep growing the site to cope with as many cans as the UK market can possibly provide us with. By offering higher prices we hope to gain an increasing supply.”
Price rises by Novelis and from Corus for steel cans suggest that the UK industry is revelling in worldwide demand for the commodities and with moves by both to increase capacity, the country is primed to recycle a growing amount of all types of cans.
As well as aluminium can increases, Novelis has also raised its price for foil to an all-time record high, offering £650/tonne.