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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It has been now declared that more than 1 billion tonnes of bauxite are detected in the mining towns of Minim, Martap, Ngaoundal and Makan in the Adamawa region, Cameroon. It emerges from the research work of the Australian mining company Camalco, a subsidiary of Canyon resources as reported on 25 th January 2021 by the Minister of Mines, Industry and Technological Development (Minmidt). However, according to Camalco officials, the exploitation of the ore is scheduled for the end of 2022. According to the estimate made through metallurgical and geological tests, the project contains resources classified almost totally in the “indicated” category and considered to be extremely reliable according to the JORC standards (Australasian code of communication of the results of exploration,...
Egypt’s aluminium and copper export values gained 5.3 per cent in 2020 to stand at $748 million, compared to $710 million in 2019, showed the Middle East News Agency (MENA). Algeria, Italy, Turkey, Morocco, Greece, Libya, Sudan, Germany, Lebanon, and Spain were the top exporters, accounting for 70.40 per cent of Egypt’s total aluminium and copper exports in 2020, with a total value of $526.676 million. Egypt’s aluminium export value recorded an increase of 7 per cent to $575 million in 2020 from $539 million in 2019, as shown by a report by the Export Council for Building Materials, Refractory, and Metallurgy Industries (ECBM). Italy topped Egypt's 65 aluminium importers with $285.513 million in 2020, representing 49.6 per cent of Egypt's total exports of aluminium.
The year 2021 stands as a year of hope and aspiration for the aluminium metal industry after it’s been through a malaise last year caused by the unprecedented COVID-19 outbreak. So, in the recently-published report - “Global Aluminium Industry Outlook 2021” , AlCircle has made an attempt to share its in-depth analysis and projection into the shaping of aluminium industry in 2021, while speculating earlier investments, policy changes, and price trend. The global aluminium usage is estimated to have declined by 4.1% to 84.5 million tonnes in 2020 amid production surge to over 65 million tonnes and increased inventories leading to supply-demand gap. However, China has managed to strengthen up its economy and aluminium usage, which is estimated to have expanded although marginally. AlCircle...
The newly elected President of USA, Joe Biden will sustain a tariff rate of 10% on aluminium imports from the United Arab Emirates, reversing Ex-President Donald Trump’s move to terminate the tariffs on his last day as president, as reported by the White House. On January 20, 2021, Joe Biden’s Republican predecessor had announced that he would exempt the UAE from the tariff on most aluminium imports, saying the two countries had reached a quota agreement that would restrict them. However, the exemption was due to take effect on 3 rd February 2021. Donald Trump ceded the exemption soon after designating the UAE a ‘major security partner’ and inking a deal to sell its 50 Lockheed Martin Corp F-35 fighter jets. The Biden administration last week communicated that it would also temporarily...
The New Zealand Government has reportedly announced a resolution to speedily remove ouvea premix, an aluminium dross by-product stored in an old paper mill site next to the river at Mataura. Environment Minister David Parker hopes this resolution gives Mataura residents greater peace of mind as they will no longer need to worry about the risk of hazardous ammonia gas that could emit from the material when wet. "This resolution will protect the wellbeing of Southland's people and its waterways," said David Parker. The resolution is the outcome of negotiations between the parties supervised by Environment Court Judge Laurie Newhook, following legal action brought by the Environment Defence Society to determine ownership and responsibility for removing ouvea premix. The Ministry of the...
After an intensive time of preparation and an extensive integration process, we would like to announce that the two companies, Tokai COBEX and Tokai Carbon Savoie, complementing each other, are now ONE company within Tokai Carbon Group. We are pleased to inform you that we are now united and operative under the name: Tokai Carbon Japan, founded in 1918, has extensive experience in carbon-related products mainly graphite electrodes used in electric arc furnaces (steel production) and carbon black used in the production of tires and pigments as well as graphite specialities among others. In 2019, Tokai enlarged its product portfolio by acquiring COBEX, a well-known, market-leading manufacturer of high-performance carbon and graphite solutions for the primary aluminium and iron-making...
On Tuesday, February 2, Emirates Global Aluminium, the world’s biggest ‘premium aluminium’ producer, announced that it secured BMW as the first customer for its solar-powered CelestiAL aluminium. According to the contract, EGA will supply 43,000 tonnes of the UAE’s first-of-a-kind aluminium, produced using solar power, to BMW every year. Using solar aluminium from EGA will help BMW reduce around 222,000 tonnes of CO2 emissions per year. EGA has been supplying aluminium to BMW since 2013 worth a three-digit million-euro sum for the use in German carmaker’s engines and other parts. EGA’s CelestiAL aluminium will meet half the annual requirements of BMW Group’s only light metal casting facility in Europe - Plant Landshut. Last year, Plant Landshut produced 2.9 million cast metal components,...
According to Shanghai Metals Market, prebaked anode price in central China has recorded a hike of RMB 55 per tonne to peg at RMB 3,700 per tonne on Tuesday, February 2, following almost a month-long restraint at RMB 3,645 per tonne. The average prices are expected to range between RMB 3,500 per tonne and RMB 3,900 per tonne, showed SMM. In the northwest, prebaked anode price has grown by RMB 35 per tonne to stand at RMB 3,950 per tonne, with average prices estimated to hover around RMB 3,750-4,150 per tonne. In the east and southwest, however, prebaked anode price has remained restrained at RMB 3,687.50 per tonne and RMB 3,772.50 per tonne, respectively. A00 aluminium ingot price, on the other hand, has decreased by RMB 40 per tonne to come in at RMB 15,190 per tonne on February 2,...
Three-month LME aluminium declined 0.83 per cent to settle at a two-week low of US$ 1,960.50 per tonne on Monday, February 1. LME aluminium cash (bid) price and LME official settlement price started the week and also the month on Monday, February 1, with a drop of US$ 1.5 per tonne to stand at US$ 1985.50 per tonne, following an increase of US$ 8 per tonne to stand at US$ 1987 per tonne on Friday. 3-months bid price and 3-months offer price stood at US$ 1982.50 per tonne, down by US$ 5 per tonne from US$ 1987.50 per tonne. Dec 21 bid price and Dec 21 offer price came in at US$ 2058.50 per tonne. The LME aluminium opening stock decreased to 1428175 tonnes from 1431050 tonnes. Live Warrants totalled 1161400 tonnes, while Cancelled Warrants at 266775 tonnes. LME aluminium 3-months Asian...
Bangladesh has recorded as one of the rapid growth rates in the world in the past few years with a stable economic performance that has helped to reduce poverty and social inequalities. According to the updated IMF forecasts from 14 th April 2020 GDP growth was estimated to have reached 7.9% in 2019 and is forecast to fall to 2% in 2020 due to the outbreak of the COVID-19 and pick up to 9.5% in 2021. The post-pandemic global economic recovery and the private consumption boosted by strong remittance flows from the Bangladeshi diaspora around the world are expected to be the key drivers of growth in 2021. The South Asian nation’s import of aluminium foil during 2018-19 was recorded at 6798 tonnes and the expenditure occurred towards the import was $21.73 million. The import for 2020 stood...
According to the Shanghai Metals Market survey, aluminium processors’ operating rates declined last week by 3.6 percentage points from a week ago, primarily attributing to less operation ahead of the Chinese New Year (CNY) holiday and tight logistics. Construction extrusion, wire and cable, and secondary aluminium industries saw a bigger decline as their producers started closing down activities for the forthcoming holiday and due to stringent raw material supply. Aluminium plate, strip, foil and industrial extrusion producers, on the other hand, had relatively abundant orders and therefore maintained stable production. Going ahead, the overall decline in operating rates at aluminium processing enterprises will expectedly expand further as most of the small and medium-sized companies will...
The month of January 2021 has been an extra-ordinary for AlCircle; it accomplished a new milestone by surpassing 10 million hits on its website. AlCircle stands strong as the most popular web-based property in the global metal industry, as it comprises readership across all 195 countries. The web-based property which has the infrastructure to cater the global aluminium value chain and working on the mission to be a virtual aluminium eco-system. It covers the industry starting from bauxite mining to alumina refining and goes to aluminium smelting, finished and semi-finished products and recycling. AlCircle has always kept itself on the move for constant innovation which drives the portal to bring together the total aluminium ecosystem of raw material suppliers, lead producers, midstream...
On 28 th January 2021, the US-based Big Data Analytics Company Palantir Technologies announced that it has signed a multi-year enterprise agreement for its ‘Foundry Platform’ with global mining and metal giant Rio Tinto. Palantir Technologies software will integrate raw data from a multitude of dissimilar sources into a representation of critical mining operations. Rio Tinto will be able to make decisions and take actions using a single source of truth that incorporates operational and transactional data. This data resource will be available, with the necessary security and privacy controls, to its frontline and office-based workers. Fay Cranmer, CIO, Rio Tinto, said: “This partnership is an important step in our digital transformation; enabling fast-paced, forward-looking decision making...
Metro Mining is projecting a positive year ahead with sales expected to progress, including 2.3 million tonnes under an offtake agreement with Xinfa. The company is also satisfactorily placed in terms of financial position for 2021, led by the robust bauxite deliveries during the June and September quarters of 2020. Metro Mining’s Bauxite Hills Mine project moved into the wet season shut down earlier than usual in September 2020 due to the COVID-19 impact and downtrend in commodity prices. But in the December quarter, the mine started working towards maintenance and haulage fleet across the site to resume operations in April 2021. Key land-based activities undertaken during the quarter include maintenance of haul roads and creek crossing, which will accelerate further towards the end of...
As updated by Shanghai Metals Market, average spot alumina price in China has decreased by RMB 1 per tonne today after two days of restrained at RMB 2403 per tonne. The price now stands at RMB 2402 per tonne as of Monday, 1 February 2021. Alumina price in Shandong has declined by RMB 20 per tonne to stand at RMB 2390 per tonne. The prices of alumina in Henan, Shanxi, Guizhou, Guangxi China markets have remained unchanged at RMB 2410 per tonne, RMB 2410 per tonne, RMB 2365 per tonne and RMB 2365 per tonne on Monday, 1 February 2021. Alumina (Imported) price has reduced to RMB 2485 per tonne, representing a drop of RMB 15 per tonne. The average price is expected to move within a range of RMB 2470-2500 per tonne. SMM aluminium ingot price stands higher today. The price has come in at RMB...
Primary aluminium production in East & Central Europe rebounded to 352,000 tonnes in December 2020, found the International Aluminium Institute. In November 2020, the output stood at 340,000 tonnes, down by 11,000 tonnes or 0.57 per cent from 351,000 tonnes in October. This brings primary aluminium production in East & Central Europe during the December quarter to 1.043 million tonnes, an increase of only 0.68 per cent quarter-on-quarter from 1.036 million tonnes. However, over the year, it declined by 1.42 per cent from 1.058 million tonnes. On a year-on-year basis, East & Central Europe’s primary aluminium production in December 2020 stood down by 5,000 tonnes or 1.40 per cent from 357,000 tonnes. East & Central Europe’s total production in 2020 amounted to 4.153 million tonnes, almost...
On 19 th January 2021, Aleksandar Vucic, President of Republic of Serbia said that Serbia ranked first among 38 European economies in terms of Y-o-Y growth in the gross domestic product in the first quarter. In a statement from Serbia's Foreign Ministry, Vucic said: “Serbia is the first in Europe in terms of economic growth, which was possible owing to the reform measures taken since 2014 and the rapid opening of the country after the first wave of the novel coronavirus.” The landlocked country situated at the crossroads of Central and Southeast Europe has recorded with 4276 tonnes of aluminium cans importation during 2018-19 and the expenditure occurred for the import stood at $17.07 million. The import for 2020 remained at 3252 tonnes and the expenditure accounted for $16.04 million....
Three-month LME aluminium ended 0.23 per cent lower at US$ 1,977 per tonne last Friday, January 29, with open interest increasing 1,937 lots to 741,000 lots, and is likely to trade between US$ 1,990-2,050 per tonne today. LME aluminium cash (bid) price and LME official settlement price climbed by US$ 8 per tonne to stand at US$ 1987 per tonne on Friday, January 29, following a downfall from US$ 2003.50 per tonne to US$ 1987 per tonne on January 28. 3-months bid price and 3-months offer price stood at US$ 1987.50 per tonne, up by US$ 9 per tonne from US$ 1978.50 per tonne. Dec 21 bid price and Dec 21 offer price hovered around US$ 2061 per tonne, growing by US$ 6.5 per tonne. The LME aluminium opening stock increased to 1431050 tonnes from 1424175 tonnes. Live Warrants totalled 1179500...
