Molson Coors Beverage Company reported a USD 30 million unfavourable impact from Midwest Premium pricing in the third quarter, adding to inflationary pressures across materials, logistics and manufacturing expenses. The brewing company also reported lower-than-expected revenue and reduced its full-year financial outlook, sending its shares down 3.36 per cent in pre-market trading on Thursday. The company reported net sales of USD 2.93 billion for the third quarter, falling short of analysts' expectations of USD 2.94 billion. Revenue declined 1.6 per cent compared with the corresponding period last year, while sales decreased 1.2 per cent on a constant currency basis. The decline was primarily driven by a 3.0 per cent fall in financial volume, partly offset by favourable pricing and sales...
Iran is expanding its domestic aluminium manufacturing capabilities through nanostructured anodising technology, developing specialised aluminium sheets and profiles for applications across aerospace, medical equipment, electronics and automotive industries. The initiative reflects a move towards higher-value aluminium products by improving the metal's surface properties and expanding its potential industrial applications. According to Pars Today, citing Mehr News Agency, an Iranian aluminium complex is using the technology to produce aluminium components with nanostructured ceramic coatings designed to improve resistance to corrosion and wear. The complex is also working on developing specialised aluminium standards and has so far established eight standards in this field. The...
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Argentina had an estimated decline in GDP of 11.8% in 2020, primarily due to the impacts of the COVID-19 pandemic. The nation had one of the strictest and lengthiest lockdowns in the world and, although the pandemic didn't cost as many lives in Argentina as it did in other large Latin American countries. The second-largest economy of South America’s is expected to rebound in the coming years, with the IMF's October 2020 estimates predicting growth of 4.9% for 2021 and 2.5% for 2022, subject to post-pandemic global economic recovery. In its most recent January 2021 update of the World Economic Outlook, the IMF has revised its GDP growth projections for Argentina to 4.5% in 2021 and 2.7% in 2022. The Southern American nation’s import of aluminium tubes or pipes fittings was recorded at 929...
A00 aluminium ingot price has increased further for the third consecutive day to exceed RMB 15,500 per tonne, as of Monday, February 8, found the Shanghai Metals Market. Data shows the price is standing at RMB 15,600 per tonne witnessing a growth of RMB 90 per tonne. The average prices are expected to range between RMB 15,580 per tonne and RMB 15,620 per tonne, with spot contract to be traded at a premium price of RMB 50-10 per tonne, up by RMB 20 per tonne from the previous day. In Foshan, A00 aluminium ingot price has grown the highest by RMB 150 per tonne to RMB 15,620 per tonne, followed by the surge of RMB 110 per tonne in Wuxi and Hangzhou to stand at RMB 15,580 per tonne and RMB 15,605 per tonne, respectively. In Gongyi and Shenyang, primary aluminium ingot price has witnessed a...
Three-month LME aluminium advanced 1.23 per cent to settle at US$ 2,019 per tonne last Friday, February 5, with open interest decreasing 3,086 lots to 725,000 lots. LME aluminium cash (bid) price and LME official settlement price continued to grow to close the last week ending on Friday, January 5, at US$ 2007.50 per tonne. This recorded the third consecutive day of hike by US$ 28 per tonne from the previous day’s price of US$ 1979.50 per tonne. 3-months bid price and 3-months offer price stood at US$ 2012 per tonne, also up by US$ 28 per tonne from US$ 1984 per tonne. Dec 21 bid price and Dec 21 offer price came in at US$ 2090 per tonne. The LME aluminium opening stock decreased from 1415125 tonnes on February 4 to 1406525 tonnes on February 5. Live Warrants totalled 1173400 tonnes,...
Africa is one of the largest producers of aluminium ore BAUXITE. African nation Guinea stands as the world’s highest exporter of bauxite and ranks at number two in bauxite production. The other African countries producing bauxite are Ghana, Cameroon, Mozambique, Ivory Coast, etc. Although having a huge amount of bauxite deposits in Africa, the region remains deprived in the production of aluminium due to irregular power supply, obstruction in financial investments and modernization, unstable political scenario and lack of professionalism. There are multiple numbers of aluminium smelter scattered all around the continent, but most of the smelters failed to reach its actual production capacity and few also took steps to close down like Bayside Aluminium in South Africa and Alscon in...
The Board of Directors of Vedanta has approved the expansion of existing capacity of Lanjigarh Alumina Refinery, as announced by Anil Agarwal’s Vedanta Ltd. On 4 th February 2021, during its regulatory filing, Vedanta stated that the Board of Directors of the Company at its meeting which was held on 3 rd February 2021 has approved the expansion of Lanjigarh Alumina Refinery. Vedanta plans to expand the production capacity of the alumina refinery to 5 MTPA from existing capacity of 2 MTPA for INR 37.79 billion approximately, subject to requisite government approvals. Vedanta said: "Completion of this project will place Lanjigarh Alumina Refinery as one of the world’s largest single-location alumina refinery complex."
National Aluminium Company Limited has reduced its aluminium ingot and aluminium products prices this week, with effect from Friday, February 5. NALCO’s aluminium ingot price has thus come in at INR 167,650-171,150 per tonne, down by INR 1,600 per tonne from INR 169,250-172,750 per tonne on last Thursday, January 28. NALCO’s aluminium wire rod price is standing at INR 171,150-175,500 per tonne, recording a decrease of INR 1,600 per tonne from INR 172,750 – 177,100 per tonne. Aluminium billets price has been cut by the same amount from INR 172,700 – 175,350 per tonne to INR 171,100 – 173,750 per tonne. NALCO, like any other Indian aluminium producers, links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which after...
Vedanta Limited increased its aluminium ingot and aluminium products prices back-to-back on February 5 and 6, in line with LME aluminium price hike. On February 5, the company raised its aluminium ingot price by INR 1,500 per tonne from INR 165,500-178,500 per tonne to INR 167,000-180,000 per tonne. The next day, on February 6, the price rose further by INR 2,250 per tonne to come in at INR 169,250-182,250 per tonne. Aluminium wire rod price also gained INR 1,500 per tonne on Friday, February 5, to come in at INR 174,500-182,000 per tonne compared to INR 173,000-180,500 per tonne on February 3. On February 6, the price clocked at INR 176,750-184,250 per tonne, registering an increase of INR 2,250 per tonne from the previous day. Vedanta’s aluminium billets price on February 5 stood at INR...
Three-month LME aluminium stood a two-week low at US$ 1960.50 per tonne on Monday, February 1. On Tuesday, it gained 0.54 per cent to settle higher at US$ 1971 per tonne. It further firmed 0.28 per cent to end at US$ 1,976.50 per tonne on Wednesday and also grew 0.91 per cent to close at US$ 1,994.50 on Thursday, February 4. LME aluminium cash (bid) price and LME official settlement price started the week on Monday, February 1, with a drop of US$ 1.5 per tonne to stand at US$ 1985.50 per tonne. The prices extended the decrease by US$ 27.50 per tonne on Tuesday, February 2, to come in at US$ 1958 per tonne. The next day, on February 3, they gained US$ 15 per tonne to peg at US$ 1973 per tonne and further US$ 6.5 per tonne on February 4 to US$ 1979.50 per tonne. Both LME aluminium cash...
RUSAL declares the successful operation of a 3D-printed casing installed onto Yarilo satellite. The Skolkovo Institute of Science and Technology developed the thermoregulatory casing of the gamma-ray detector, which was produced at the Centre of Additive Technologies based on the Institute of Light Materials and Technologies (ILM&T) from a new aluminium powder alloy developed by the institute's specialists. The temperature-regulating casing of the gamma-ray detector, produced on a 3D printer, has been installed onto one of the two Yarilo research satellites launched into space in 2020. This is a unique space project for the Bauman Moscow State Technical University in partnership with the Lebedev Physical Institute of the Russian Academy of Sciences and the Institute of Nuclear Physics of...
India’s largest producer of aluminium and value-added products, Vedanta Aluminium’s Jharsuguda plant has bagged the ‘Best Exporter’ Award for the years 2017-18 & 2018-19 at the Odisha State Export Award. Directorate of Export Promotion & Marketing (DEPM), Odisha organized the event and the awards were presented to the company in a virtual ceremony which was chaired by the Hon’ble Chief Minister of Odisha, Naveen Patnaik. On behalf of Vedanta, GG Pal, Chief Operating Officer – Metal, received the award. The Jharsuguda plant was rewarded for being the biggest exporter from the state of Odisha consecutively for two years, 2017-18 and 2018-19. The aluminium smelter at Jharsuguda produces a line-up of top-of-the-line products such as Ingots, Billets, Wire Rods, Primary Foundry Alloy (PFA),...
Hindalco Industries Limited has raised its aluminium ingot and aluminium products prices with effect from Friday, February 5, after reducing them for the past two consecutive times. The company has revealed that it is now selling its aluminium ingot at INR 167,250 per tonne compared to INR 165,750 per tonne as of February 3. This registers an increase of INR 1,500 per tonne in Hindalco’s aluminium ingot price on February 5. With the latest price change, Hindalco’s aluminium wire rod price has also rebounded by INR 1,500 per tonne from INR 176,850 per tonne on February 3 to INR 178,350 per tonne on February 5. Aluminium billets price has come in at INR 174,350 per tonne, up by INR 1,500 per tonne as well from INR 172,850 per tonne. Hindalco Industries Limited links the prices of its...
On Thursday, February 4, Constellium, a global aluminium rolled and extruded products manufacturer, announced its plans to invest in expanding aluminium recycling capacity by 60,000 tonnes per annum in Europe. This project will focus on using recycled material for manufacturing aluminium slabs dedicated to Constellium’s automotive and packaging businesses in Europe. “We are excited about the potential to increase our recycling capacity in Europe. We already benefit from the inherently sustainable aspects of aluminium, including its strength, its light weight, and its infinite recyclability. An investment in expanding our recycling capacity is a strong demonstration of our commitment to sustainability. I expect this will be a meaningful contributor to both our financial and ESG objectives...
As per Fitch Solutions, the Papua New Guinea economy is expected to recover from 2021, after a recession in 2020. Fitch Solutions forecasts real GDP growth of 3.2% in 2021, from an estimated contraction of 4.0% in 2020. The island nation on the South-western Pacific region has recorded with 7942 tonnes of aluminium cans during 2018-19 and the expenditure occurred for the import remained at $19.56 million. The import for 2020 stood at 3496 tonnes and the expenditure remained at $28.00 million. However, when the import volume and expenditure of 2020 gets added with the existing two years, it signifies 11,438 tonnes and $67.11 million respectively. Papua New Guinea’s import of aluminium cans in 2018 was 4570 tonnes and the expenditure stood at $19.56 million, whereas, in 2019, the import saw...
Shanghai Metals Market data showed 6063 aluminium billet inventories increased by 27,400 tonnes this week, ending on Thursday, February 4, across five major consumption areas, including SHFE warrants. The stocks thus came in at 128,200 tonnes compared to 100,700 tonnes last week, mainly attributable to lower downstream demand ahead of the Chinese New Year (CNY) holiday. The chart below indicates the current status of aluminium billet inventories across China in more details: Foshan has the highest growth in aluminium billet inventories of 13,500 tonnes to stand at 62,800 tonnes this week, followed by the hike in Wuxi and Nanchang of 4,700 tonnes to come in at 22,600 tonnes and 15,600 tonnes, respectively. In Huzhou, aluminium billet inventories have grown by 3,000 tonnes to peg at 14,000...
Century Aluminum Company has concluded the sale of 150,000 metric tonnes of Natur‐Al™ aluminium over five years to Austrian firm Hammerer Aluminium Industries (HAI). Natur‐Al™ products are produced with energy from 100% renewable sources at Century’s Norðurál Grundartangi aluminium plant in Iceland, while the product line has been in development over several years it was officially inaugurated in 2020. The aluminium will be supplied to Hammerer by Glencore. Natur‐Al™ aluminium has direct CO₂ levels below two tonnes of CO₂ per tonne of aluminium – one of the lowest CO₂ footprints in the world for the metal. The total CO₂ footprint is four tonnes per tonne of aluminium, less than one‐quarter of the industry average. To achieve these levels requires strict adherence to the highest standards...
According to the Shanghai Metals Market, A00 aluminium ingot price has extended its growth by RMB 160 per tonne to close the week on Friday, February 5, at RMB 15,510 per tonne. The average prices are expected to range between RMB 15,490 per tonne and RMB 15,530 per tonne, with spot contract to be traded at a premium price of RMB 70-30 per tonne, down by RMB 50 per tonne from the previous day. In Foshan and Chongqing, primary aluminium ingot price has increased by RMB 170 per tonne to RMB 15,470 per tonne and RMB 15,500 per tonne, respectively, while the price in Gongyi, Tianjin, and Linyi has climbed by RMB 140 per tonne to come in at RMB 15,370 per tonne, RMB 15,450 per tonne, and RMB 15,530 per tonne, respectively. In Shenyang and Wuxi, primary aluminium ingot price has surged by RMB...
Three-month LME aluminium increased 0.91 per cent to close at US$ 1,994.50 per tonne on Thursday, February 4, with open interest decreasing 4,593 lots to 728,000 lots. LME aluminium cash (bid) price and LME official settlement price further witnessed a hike, albeit slower than the previous day, by US$ 6.5 per tonne to stand at US$ 1979.50 per tonne on Thursday, February 4. 3-months bid price and 3-months offer price stood at US$ 1984 per tonne, up by US$ 12 per tonne from US$ 1972 per tonne. Dec 21 bid price and Dec 21 offer price came in at US$ 2067.50 per tonne. The LME aluminium opening stock decreased from 1425225 tonnes on February 3 to 1415125 tonnes on February 4. Live Warrants totalled 1174675 tonnes, while Cancelled Warrants stood at 240450 tonnes. LME aluminium 3-months Asian...
Bulgarian manufacturer of rolled and extruded aluminium products ‘Alcomet AD’ posted a standalone net loss of 3.8 million levs (€1.8 million) in 2020 from a net profit of 8.6 million levs in 2019. In an annual financial statement, Alcomet stated that the revenue generation shrunk to 348.1 million levs from 352.1 million levs in 2019. Alcomet's sales rose by 10.7% to 65,739 tonnes in terms of volume, as sales of extruded products increased by 16.6% to 26,491 tonnes, while sales of rolled products added 7.6% to 46,288 tonnes. In 2020, the company’s largest export market was Germany, with a 23.4% share of all sales, followed by Poland and Italy with 14.5% and 13.5%, respectively. However, the output volume increased by 7% to 73,512 tonnes in 2020. The volume of extruded products rose to...
