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 primary aluminium producing nations of South America are Brazil, Argentina, and Venezuela. Once Venezuela used to lead the primary aluminium industries in South America like that of Argentina nowadays, besides from Brazilian giants with greater production rule. Later on, Venezuela faded away from the industry due to its non-commercial focus on the market and high cost of power. However, in this article we will majorly focus on the top three primary aluminium producers of South America: Aluar Aluminio Argentino (Argentina) Companhia Brasileira de Aluminio (Brazil) Albras Alumínio Brasileiro S.A. (Brazil) Aluar Aluminio Argentino Aluar Aluminio Argentino is the only aluminium smelter in Argentina and one of the largest in South America. Aluar is a company with national capitals managed...
Rahul Sharma, President, Aluminium Association of India and Deputy CEO of Vedanta Aluminium stated that the aluminium production cost has risen to more than double amid COVID-19 pandemic, whereas, LME prices are still improving from the April-June fall of $1,500 levels, the upcoming 2021 union budget needs to support the industry to rejuvenate. Sharma was loud enough to say: “In India, we have sufficient capacity, we have invested around INR 4 lakh crore, but still imports are around INR 30,000 crore, today. As the economy moves up gradually, we expect the government to support this industry in the upcoming budget.” “The metals sector is fundamental to the revival of the Indian manufacturing ecosystem, the realization of the dream of a ‘Self-Reliant India’ and we need to position India as...
In November’20, the £94 million investment and expansion plans announced by Alvance British Aluminium’s owners GFG Alliance, at its Locabher aluminium smelter in Fort William, which is encouraging up to 70 new jobs, while 20-25 jobs already created in the first three years of its acquisition. In the first instance, it was consecrated for aluminium alloy wheel production, however, the expectation of £120 million injection with 300 jobs faded due to the plunge in demand in the automotive sector. The plans were then given a second thought to develop a plant for casting blocks of aluminium termed as billets to supply for the UK construction sector, with the prospect of a water canning facility also to come on the smelter site. Planners said: “The site proposed is similar to that of the alloy...
The English company Aspen Pumps based in Hailsham has acquired Malaysian-based manufacturing company of high-end aluminium and metal-based components for the lighting, air conditioning and electrical industries, LNE Group. LNE was founded in 2002 by an Englishman named Mark Rampling, while the company is managed by Europeans and it employs over 50 staff in two factories in Kuala Lumpur. The company produces, sources and assembles products for export to clients in Europe, Australasia, USA, Middle East, and South-East Asia. Aspen said in a statement: “The acquisition of LNE increased Aspen’s manufacturing capabilities and gives the company a foothold in the rapidly growing Asia Pacific region. It also said that, as part of the transaction, Mark Rampling had committed to remain with the...
The deadline granted for takeover bid to the French automotive foundry MBF Aluminium in Saint-Claude (Jura) which has been in receivership position since 4th November’20, has been postponed from 20th January to 9th February by the Dijon commercial court. In the recent weeks, four interested candidates came to visit the facility site, while no takeover proposal came up as of yet, but two letters of intent have been submitted. One from the American group Seiko, which would retain only 167 of the 266 employees, the other from the French competitor GMD, which took three more weeks to build its own. Adeline Munarolo, Director General, MBF Aluminium said: “By GMD's admission, it was the government that supported their visit.” The study by the Roland Berger firm suggested that the French sector...
Vedanta Limited, one of the world’s leading diversified natural resource companies, has reported consolidated net profit of INR 3,017 crore in the third quarter of FY2020-21 ending on December 31. The profit stood up by 35 per cent from the same period last year backed on higher revenues. Net sales during the same period under review also increased 6.4 per cent year-on-year to INR 22,498 crore, buoyed by Vedanta’s robust aluminium and zinc business, higher commodity prices, rupee depreciation, and successful project delivery in the oil & gas vertical. Sunil Duggal, chief executive officer at Vedanta, said: "Our businesses stayed resilient in the quarter amidst uncertain market environment reporting the highest EBITDA in last two years. We continue to ramp up across the Zinc and Iron &...
Three-month LME aluminium rose 1.28 per cent to close at US$ 2020 per tonne on Monday, January 25. On Tuesday, January 26, it further climbed to US$ 2023 per tonne, but lost 1.75 per cent to close at US$ 1987.50 per tonne on Wednesday, January 27. On Thursday, three-month LME aluminium dipped 0.3 per cent to settle at US$1981.5 per tonne. LME aluminium cash (bid) price and LME official settlement price plunged this week during January 25-29 from US$ 2011.50 per tonne to US$ 1987 per tonne. In the two initial days, the prices surged from US$ 1975.50 per tonne to US$ 2011.50 per tonne and then to US$ 2025 per tonne, but started decreasing from Wednesday, January 27, to US$ 2003.50 per tonne. On Thursday, January 28, both LME aluminium cash (bid) price and LME official settlement price...
Beverage packaging manufacturer Crown has reportedly announced to inaugurate a new aluminium beverage can manufacturing facility in Henry County, Virginia. The plant, to be located in Commonwealth Crossing Business Centre, will mark Crown’s third greenfield beverage can manufacturing investment in North America over the past five years. The facility is expected to expand Crown’s North American supply network, aiming at addressing the growing market demand for standard and speciality beverage cans across varied categories such as sparkling water, energy drinks, carbonated soft drinks, teas, functional beverages, Hard seltzers, beers, and cocktails. Crown will invest $145 million in the facility. Timothy Donahue, president and CEO of Crown, commented: “This investment further demonstrates...
Hydrovolt has commenced the construction of Norway's first plant for recycling electric vehicle batteries, located in the town of Fredrikstad. The facility, which is planned start operations in late 2021, will have the capacity to process more than 8,000 tonnes of modules from car batteries each year. Hydrovolt is a joint venture between Hydro and the battery producer Northvolt. Both thecompanies have invested NOK 120 million in the plant. “Norway has long been a global leader in electric car adoption. At the start of 2021, we became the first country in the world in which over half of all new cars sold are electric. We should therefore also aim to be world-leading in recycling the used car batteries, when the electric cars reach their end-of-life,” said Hydrovolt CEO Fredrik Andresen....
The National Environment and Planning Agency (NEPA) of Jamaica commented that in another two months a conclusive decision could be ready on whether Noranda Jamaica Bauxite Partners II (NJBP II) receives an environmental permit to mine in sections of western St Ann and eastern Trelawny. Since May 2018, the Government of Jamaica has been pondering over the application. The proposal to mine in the SML 173 area, next to the Cockpit Country protected area, has been met with strong pushback from environmental lobbyists, interest groups and individuals. On 27 th January 2021, Peter Knight, CEO, NEPA, explained to the Public Administration and Appropriations Committee (PAAC) that the process has not stalled, as wide consultations continue on the environmental impact assessment report. He...
Vedanta Limited has reduced its aluminium ingot and aluminium products prices with effect from Friday, January 29, in line with sluggish LME aluminium benchmark price since January 27. Decreasing the aluminium ingot price by INR 2,250 per tonne, Vedanta is now selling it at INR 167,250-180,250 per tonne versus INR 169,500-182,500 per tonne on January 26. With the latest cut, Vedanta’s aluminium billets price has come in at INR 175,250 per tonne, down by INR 2,250 per tonne from INR 177,500 per tonne. Vedanta’s aluminium wire rod price is hovering around INR 174,750-182,250 per tonne, registering a fall of INR 2,250 per tonne as well from INR 177,000-184,500 per tonne on January 26. Vedanta Limited links the prices of its aluminium products and aluminium ingot to the three-month futures of...
National Aluminium Company Limited (NALCO) has raised its aluminium ingot and aluminium products prices with effect from Thursday, January 28, after two consecutive weeks of decline. With the latest hike, NALCO’s aluminium ingot price has come in at INR 169,250-172,750 per tonne versus INR 167,850-171,350 per tonne on January 21. This registers an increase of INR 1,400 per tonne over the week. NALCO’s aluminium billets price is standing at INR 172,700 – 175,350 per tonne, up by INR 1,400 per tonne from INR 173,000-175,650 per tonne in the previous week. The price of aluminium wire rod has also been raised by INR 1,400 per tonne from INR 171,350-175,700 per tonne to INR 172,750 – 177,100 per tonne. NALCO, like any other Indian aluminium producers, links its aluminium ingot and aluminium...
According to the International Monetary Fund (IMF), the Croatian authorities should find a balance between short-term priorities of economic support amid the COVID-19 pandemic and medium-term priorities of restoring fiscal space and raising productivity and growth through green and digital public investment. "Despite the difficulties of this year, Croatia is faring better than many other countries with a similar degree of tourism-dependence. Rises in unemployment have been contained thus far thanks to strong policy support. Yet, significant challenges persist due to the resurgent pandemic," said by the head of the IMF team in a statement. The nation at the crossroads of Central and Southeast Europe on the Adriatic Sea has recorded 6008 tonnes export of aluminium structures during 2018-19...
Hindalco Industries Limited has cut its aluminium products price by INR 2250 per tonne. With effect from Friday, 29 January 2021, wire rods price stands at INR 178,600 per tonne, a decrease of 1.24% from INR 180,850 per tonne on January 26. The company is selling its aluminium billets and aluminium ingot at INR 174,600 per tonne and INR 167,500 per tonne as of Friday, 29 January 2021. That was down by 1.3% or INR 2250 per tonne each from January 26. The Indian aluminium producers generally link prices of its products to the three-month futures of aluminium on London Metal Exchange. The aluminium price on LME has been increasing since October. The price has climbed nearly 14% in the October-December. Aluminium operations of the company, excluding those of its US arm Novelis Inc, generally...
With advent of the New Year 2021, AlCircle has started gearing up for its second virtual event - “ AlCircle Expo 2021 ”. Thanks to our viewers kind support, enormous encouragement, and inspiring feedback that we have planned an online expo yet again. This time it’s going to be Bigger, Better, and Grander. It shall be held virtually on June 29 & 30, from 9AM to 5PM GMT. Like the former, the expo 2021 is also aimed at bringing the aluminium industry leaders and partners from the entire value chain of aluminium under one roof virtually, driven by more advanced technology to enable them to build a stronger network. As AlCircle is always committed to offer superior experience and information, this time will be no exception with more enticing digital tools besides video calls, exchange of...
Coca-Cola has announced the newest creative extension of the Coca-Cola Trademark in the United States. Coca-Cola with Coffee is available in three signature flavours – Dark Blend, Vanilla and Caramel and contains 69 mg of caffeine per 12-oz. can. The company has also launched Coca-Cola with Coffee Zero Sugar in Dark Blend and Vanilla varieties. Coca-Cola claims the range is the new “refreshment coffee” category and “sips like a Coke and finishes like a coffee”. “We’re focusing our innovation efforts on doing what Coca-Cola has always stood for and does best – which is to deliver emotional and functional uplift – in bigger, bolder, more differentiated ways,” said Brandan Strickland, brand director, Coca-Cola Trademark. “Coca-Cola with Coffee is a true hybrid innovation that provides the...
The all-round naval specialist PIRIOU has just delivered a 55m FPSV to JANA MARINE SERVICES, a Saudi Arabia provider of best-in-class integrated Marine Services to Offshore Oil & Gas Industry. The vessel built by PIRIOU VIETNAM with a sea proven PIRIOU design, a dozen of vessels of this model were already delivered to various operators in the offshore oil industry. Several modifications were brought to this vessel to answer the ship-owner specifications - especially increased speed- which was achieved by implementing a new propulsion system, making this vessel performance truly unique. On 25 th January 2021, the delivery of the aluminium vessel took place PIRIOU VIETNAM’s shipyard. The ‘JANA 21’ shall be exploited in the Arabian Gulf waters. This order from JANA MARINE SERVICES follows...
Three-month LME aluminium dipped 0.3% to settle at US$1,981.5 per tonne on Thursday, 28 January 2021. SMM expects the contract to trade between US$1,980-2,000 per tonne today. As of Thursday January 28, LME aluminium cash (bid) price stands at US$ 1979 per tonne, LME official settlement price stands at US$ 1979 per tonne; 3-months bid price stands at US$ 1978.50 per tonne, 3-months offer price is US$ 1978.50 per tonne; Dec 21 bid price stands at US$ 2054.50 per tonne, and Dec 21 offer price stands at US$ 2054.50 per tonne. The LME aluminium opening stock stood at 1424175 tonnes. Live Warrants totalled 1171000 tonnes, and Cancelled Warrants were 253175 tonnes. LME aluminium 3-months Asian Reference Price is hovering at US$ 1981.79 per tonne. SHFE Aluminium Price Trend Benchmark aluminium...
