World leading aluminium canstock producer Novelis increased sales by 14 percent to US$2.9 billion in the third quarter, despite shipment volumes being 2 percent down at 720,000 tonnes, compared with the same period in 2010.
The improvement was mainly the result of strong conversion premiums and higher average aluminium prices, said Atlanta, Georgia-based Novelis. Net profit almost doubled in the same period to $120 million.
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