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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The Bank of Central African States reported that while presenting the evolution of prices of the main commodities exported to CEMAC region - Cameroon, Central African Republic, Congo, Gabon, Equatorial Guinea and Chad to the Q4’20, only Cameroon exports aluminium. According to the 2020 monetary programming data, Cameroon exported 49,300 tonnes of aluminium, with a unit price of CFA franc 1,096,600 per tonne. This amounts to a value of 54 billion CFA franc collected by Cameroon in the sale of this metal, which is majorly used in construction, the manufacture of cars or planes, high voltage lines, but also in food packaging. Cameroon's performance in 2020 is down, as compared with the previous year when the country produced nearly 52,000 tonnes of aluminium, a drop of 2,700 tonnes between...
According to Shanghai Metals Market, social inventories of primary aluminium have built-up 32,000 tonnes week-on-week across eight major consumption areas in China, including SHFE warrants. Data shows the inventories are standing at 714,000 tonnes as of February 4, the highest since October 15, 2020. Last week, on January 28, primary aluminium inventories came in at 682,000 tonnes, gaining 13,000 tonnes over the week. This shows the hike in primary aluminium inventories has expanded by 19,000 tonnes this week, ending on Thursday, February 4. The chart below indicates the current status of primary aluminium inventories across China in more details: In Gongyi and Hangzhou, primary aluminium inventories increased 18,000 tonnes and 10,000 tonnes, respectively, to come in at 87,000 tonnes and...
On Wednesday, February 3, Novelis Inc., the world leader in aluminium rolling and recycling, reported a net income attributable to common shareholder of $176 million in the third quarter of the financial year 2020-21, up 64 per cent year-on-year. The company’s net income from continuing operations stood at $195 million, 82 per cent higher than in the same period last year. Net sales increased by 19 per cent over the year to $3.2 billion in the third quarter of fiscal 2021, primarily due to a 17 per cent increase in total aluminium shipments and higher average aluminium prices. In the same quarter, Novelis’ flat rolled products shipments increased to 933,000 tonnes, reflecting the addition of acquired Aleris business and robust demand across the end-user markets, particularly beverage can....
The economy of Belarus was already grappling to power growth before both the corona pandemic and the political protests following the August’20 presidential election. As forecasted, the GDP is supposed to grow by just 2% in 2021 amid country-wide protests and Belarus's isolation on the international stage. Belarus will require further financial support from Russia to maintain macroeconomic and financial stability. The Eastern European nation’s import of aluminium bar rods and profiles during 2018-19 was recorded at 23, 160 tonnes and the expenditure occurred for the import stood at $93.71 million. The import for 2020 remained at 14,887 tonnes and the expenditure accounted for $92.23 million. However, when the import volume and expenditure for 2020 gets totalized, it reveals 38,047 tonnes...
A00 aluminium ingot price has soared by RMB 320 per tonne to stand at RMB 15,350 per tonne on Thursday, February 4, following a plunge of RMB 160 per tonne to RMB 15,030 per tonne on February 3, found Shanghai Metals Market. The average prices are expected to range between RMB 15,330 per tonne and RMB 15,370 per tonne, with spot contract to be traded at a premium price of RMB 20-20 per tonne. In Gongyi, primary aluminium ingot price has jumped by RMB 350 per tonne to RMB 15,230 per tonne, while the price in Wuxi, Hangzhou, and Chongqing has increased by RMB 335 per tonne to come in at RMB 15,355 per tonne, RMB 15,385 per tonne, and RMB 15,330 per tonne, respectively. In Shenyang and Linyi, A00 aluminium ingot price has surged by RMB 320 per tonne and RMB 310 per tonne to RMB 15,350 per...
The COVID-19 pandemic is still restraining certain sectors of the economy and as a result, the Brussels motor show is not taking place, but ALVANCE Aluminium is pursuing to work on innovation and development of aluminium supply for the industry. The demand for lighter vehicles, vehicles with reduced emissions and fuel consumption, electric and autonomous driving vehicles is a trend that ALVANCE is closely monitoring to support its customers in this evolution. Belgium based ALVANCE Aluminium Duffel, previously owned by Aleris, has over 30 years’ experience in the use of aluminium in the automotive sector and supplies major car manufacturers and suppliers around the world. This factory can continue to invest in innovation and automation to deliver an even better, more tailored product, as...
Three-month LME aluminium firmed 0.28 per cent to end at US$ 1,976.50 per tonne on Wednesday, February 3, with open interest decreasing 1,780 lots to 733,000 lots. LME aluminium cash (bid) price and LME official settlement price gained US$ 15 per tonne to stand at US$ 1973 per tonne on Wednesday, February 3. 3-months bid price and 3-months offer price stood at US$ 1972 per tonne, up by US$ 9.50 per tonne from US$ 1962.50 per tonne. Dec 21 bid price and Dec 21 offer price came in at US$ 2054.50 per tonne. The LME aluminium opening stock increased to 1425225 tonnes on February 3 from 1421725 tonnes on February 2. Live Warrants totalled 1173450 tonnes, while Cancelled Warrants at 251775 tonnes. LME aluminium 3-months Asian Reference Price hovered around US$ 1964.10 per tonne. SHFE Aluminium...
Rio Tinto, an industry leader in responsible aluminium production is positioning a new standard in transparency and traceability for the aluminium industry with the roll-out of START, a ‘nutrition label’ for responsible aluminium. START will help customers meet the demand from consumers for transparency on where and how the products they purchase are made. It focuses to empower end-users to make informed choices about the products they buy, enabling them to contribute to a sustainable future and to differentiate between end products based on their environmental, social and governance credentials. Customers will receive a digital sustainability label, which is similar to a nutrition label found on food and drink packaging – using secure blockchain technology. It will provide key...
Vedanta Limited decreased its aluminium ingot and aluminium products prices for the second time in a row with effect from Wednesday, February 3. The company is currently selling its aluminium ingot at INR 165,500-178,500 per tonne, down by INR 1,750 per tonne or 1.05 per cent from INR 167,250-180,250 per tonne on last Friday, January 29. Vedanta’s aluminium wire rod price has come in at INR 173,000-180,500 per tonne after being cut by INR 1,750 per tonne as well. On Friday, January 29, Vedanta’s aluminium wire rod price stood at INR 174,750-182,250 per tonne, down by INR 2,250 per tonne from INR 177,000-184,500 per tonne on January 26. Vedanta’s aluminium billets price is hovering around INR 173,500 per tonne versus INR 175,250 per tonne last Friday. Vedanta Limited links the prices of...
On 2 nd February 2021, the leading auto components manufacturer, Endurance Technologies declared its commencement of commercial production at the Company's new plant situated at SIPCOT Industrial Park in Sriperumbudur, Tamil Nadu. The new plant will manufacture aluminium die-castings and carry out the integration of disc brake components with control brake modulators. However, the plant has an annual installed capacity to produce 9,000 metric tonnes of aluminium die-casting components for application in two and four wheelers and the required infrastructure for machining of such castings, and to integrate 720,000 sets of disc brake components for application in two-wheelers. On 2 nd February 2021, the integration of disc brake components with control brake modulators has commenced and...
BMW Group, Tetra Pak and Schuco International KG, the three global manufacturing companies have countered to agitate over the usage of aluminium produced from bauxite mined at the Atewa Forest in Ghana. The global manufacturers have communicated in letters their stand to the Concerned Citizens of Atewa Landscape (CCAL), the grassroots movement advocating against bauxite mining in Atewa Forest. As all the three companies are members of the Aluminium Stewardship Initiative (ASI) established to certify members and their products in the bauxite-aluminium supply chain that meet its sustainability standards. Although the companies appreciate the Ghana government’s desire to develop the aluminium sector for economic development and poverty reduction, they have strongly stated that their...
Hindalco Industries Limited has further reduced its aluminium products and aluminium ingot prices, albeit slower than the previous time, with effect from Wednesday, February 3. The company reveals that it is now selling its aluminium wire rod price at INR 176,850 per tonne compared to 178,600 per tonne on Friday, January 29. This marks a decrease of INR 1,750 per tonne or 0.98 per cent in Hindalco’s aluminium wire rod price. With the latest cut, Hindalco’s aluminium billets price has come in at INR 172,850 per tonne, also down by INR 1,750 per tonne from INR 174,600 per tonne on January 29. The company has reduced its aluminium ingot price by INR 1,750 per tonne as well from INR 167,500 per tonne on January 29 to INR 165,750 per tonne on February 3. Hindalco Industries Limited links the...
The United States domestic primary aluminium production stood at 74,000 tonnes in November 2020, registering a drop of 1,000 tonnes or 1.33 per cent from 75,000 tonnes in October, found the US Geological Survey. The average daily production in the same month was 2,450 tonnes, slightly less than in October 2020, 18 per cent less than in November 2019, and 16 per cent less than in November 2018, as shown in the table below. Total aluminium recovered from scrap in November 2020 amounted to 264,000 tonnes, 5 per cent less than in October 2020 and in November 2019. Of this, 141,000 tonnes of aluminium was recovered from new scrap and 122,000 tonnes from old scrap. In November 2020, the United States average spot market price of primary aluminium ingot was $1.01 per pound, up 7 per cent...
The economy of Honduras is highly impacted with the combined strike of COVID-19 pandemic, weak healthcare, endemic corruption, damage and property loss caused by Hurricane Eta and limitation of scope for a post-pandemic recovery in 2021. The Central American nation’s export of aluminium scrap during 2018-19 was recorded at 6715 tonnes and the revenue earnings stood at $7.58 million. The export for 2020 remained at 3893 tonnes and the earnings accounted for the export stood at $4.28 million. However, when the export volume and earnings of 2020 get summed with the preceding two years, it denotes 10,608 tonnes and $11.86 million respectively. Honduras export of Aluminium scrap in 2018 stood at 3132 tonnes and the revenue generated was $4.00 million, whereas, in 2019, the export saw upswing...
The average alumina spot price in China has recorded a decline of RMB 14 per tonne to stand at RMB 2,388 per tonne on Wednesday, February 3, following a restraint last day at RMB 2,402 per tonne, found Shanghai Metals Market data. In Henan and Shanxi, alumina price has plunged by RMB 17.50 per tonne to come in at RMB 2,392.50 per tonne, while that in Shandong, Guizhou, and Guangxi has remained restrained. A00 aluminium ingot price has registered a sharp downfall of RMB 160 per tonne to stand at RMB 15,030 per tonne on February 3, marking the second consecutive day of decline, learned SMM. The average prices are expected to range between RMB 15,010 per tonne and RMB 15,050 per tonne, with spot contract to be traded at a premium price of RMB 20 per tonne. Chongqing has seen the highest fall...
On 3 rd February 2021, Emirates Global Aluminium, Mubadala and Dubal Holding accomplished a major milestone with the first firing of the Siemens Energy H-class gas turbine at a new AED 1 billion state-of-the-art power plant under development at EGA’s Jebel Ali site. The Siemens Energy H-class gas turbine, a leading technology in efficient power generation, is the heart of the new power plant. Over the coming months, other facilities of the plant will be completed and integrated to achieve a generation capacity of over 600 megawatts of electricity. However, full completion of the project is expected in the summer. The new power block at EGA is being developed by JA Power & Water Co, a joint venture formed by Mubadala and Dubal Holding. EGA intends to purchase power from the joint venture...
The metal segment of En+ Group, Rusal, the world's largest producer of low carbon aluminium, has announced its partnership agreement with Hodaka, a Taiwanese innovative producer of high-quality aluminium alloys, to supply aluminium products with low carbon footprint. RUSAL and Hodaka partnership drives together the technological excellence of both companies to develop a new generation of products using low-carbon aluminium under RUSAL's ALLOW brand. However, in their operations, both companies prioritize sustainable development, compliance with international standards, and adherence to the best available production practices. In 2002, Hodaka was founded in Taiwan, which is dedicated to the production of high-quality billets and precision extrusions and supplies top-quality aluminium...
Three-month LME aluminium bounced off a two-week low of US$ 1,953 per tonne to an intraday high of US$ 1,979 per tonne before relinquishing some gains to end 0.54 per cent higher at US$ 1,971 per tonne on Tuesday, February 2, with open interest adding 4,145 lots to 735,000 lots. LME aluminium cash (bid) price and LME official settlement price decreased sharply by US$ 27.50 per tonne to stand at US$ 1958 per tonne on Tuesday, February 2. 3-months bid price and 3-months offer price stood at US$ 1962.50 per tonne, down by US$ 20 per tonne from US$ 1982.50 per tonne. Dec 21 bid price and Dec 21 offer price came in at US$ 2042.50 per tonne. The LME aluminium opening stock edged lower at 1421725 tonnes on February 2 compared with 1428175 tonnes on February 1. Live Warrants totalled 1164200...
