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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A00 aluminium ingot price has recorded a hike of RMB 100 per tonne to close the week on Friday, January 29, at RMB 14,970 per tonne, after declining in the past three days in a row from RMB 15,030 per tonne to RMB 14,870 per tonne, found Shanghai Metals Market. The average prices are expected to range between RMB 14,950 per tonne and RMB 14,990 per tonne, with spot contract to be traded at a premium price of RMB 0-40 per tonne. In Foshan, A00 aluminium ingot price has surged by RMB 140 per tonne to come in at RMB 14,950 per tonne, while in Wuxi, the price has increased by RMB 120 per tonne to stand at RMB 14,980 per tonne. In Gongyi, Chongqing, and Linyi, primary aluminium ingot price has grown by RMB 110 per tonne to peg at RMB 14,870 per tonne, RMB 14,940 per tonne, and RMB 15,040 per...
The American multinational corporation Boeing has approved Ontario, Canada based Burloak Technologies, a division of Samuel, Son & Co. for additive manufacturing aluminium AlSi10Mg components to the Boeing BAC 5673 specification. Burloak Technologies stated that it is the world’s first additive manufacturer to achieve this qualification. Burloak and Boeing are now working to apply the BAC 5673 specification to multiple programmes for existing and future components. Peter Adams, Burloak’s founder and Chief Innovation Officer, said: “This approval marks the completion of a qualification process that included a rigorous evaluation of Burloak’s capabilities by Boeing. We would like to thank Boeing’s additive manufacturing team for its collaborative approach.” “Together, we developed a...
The Chamber of Minerals and Energy of Western Australia (CME) applaud Ivan Vella’s appointment as Rio Tinto’s Chief Executive Officer for aluminium business. Paul Everingham, CEO, CME said: “Mr Vella – who is the Chamber’s President – would carry a wide range of skills and experiences into his new role.” Mr Ivan Vella is currently Rio Tinto’s Interim CEO for Iron Ore. “I’ve worked closely with Ivan for several years, but particularly since he was appointed President of CME in April last year,” Mr Everingham said. “Ivan is an outstanding operator, whose intimate knowledge of the WA mining and resources sector has been invaluable to CME.” “He took over as Interim Iron Ore Chief Executive during a time of significant change for Rio Tinto and has shown a great deal of leadership in that...
According to Shanghai Metals Market, stocks of aluminium billet across five major consumption areas in China climbed by 16,400 tonnes on lower shipments. The inventories stood at 100,700 tonnes as of Thursday, 28 January 2021. Aluminium billet shipments reduced to 36,100 tonnes this week on lower downstream demand and sluggish sentiment for receiving goods. Shipments were down by 9,400 tonnes. The chart below indicates the current status of aluminium billet inventories across China in more details: Inventories of aluminium billets in Foshan increased the most by 10,100 tonnes, standing at 49,300 tonnes as of Thursday, 28 January 2021. The stocks in Wuxi and Changzhou stood at 17,800 tonnes and 11,700 tonnes, an increase of 3,100 tonnes and 800 tonnes from last week. Inventories in Huzhou...
According to Shanghai Metals Market, social inventories of primary aluminium have gained 13,000 tonnes week-on-week across eight major consumption areas in China, including SHFE warrants. Data shows the stocks this week, ending on Thursday, January 28, have come in at 682,000 tonnes compared to 669,000 tonnes last Thursday, January 21. The chart below indicates the current status of primary aluminium inventories across China in more details: Primary aluminium inventories have increased the highest in Hangzhou by 8,000 tonnes to 67,000 tonnes, followed by the hike of 6,000 tonnes in Nanhai to 164,000 tonnes. In Gongyi, primary aluminium inventories have climbed by 5,000 tonnes to clock at 69,000 tonnes, while in Linyi, the stocks have inched up by 1,000 tonnes to come in at 7,000 tonnes....
Salzburger Aluminium Group concluded 2020 better than the automotive industry average, as the Group’s sales revenue recorded around € 155 million with a positive EBIT. The internationally successful manufacturer of high-quality aluminium components for the automotive, commercial vehicle and railway industries started 2021 by bagging a major order for lightweight car components worth more than € 21 million driving the company with a top start. The customised parts made of special aluminium are produced using a rheocasting process. Rheocasting parts are progressively in demand due to the trend towards e-mobility and the need to reduce the weight of vehicles because less weight means more range. SAG has also secured a major order in the railway industry: the production of thousands of...
Slowdown in demand due to the global manufacturing downturn amid the COVID-19 pandemic has resulted in a decline in Japan’s aluminium products output for 2020, found the Japan Aluminium Association. Data shows production of rolled and extruded aluminium products decreased by 10 per cent from a year earlier to 1.7 million tonnes in 2020. In December 2020, production of aluminium sheet stood at 84,840 tonnes in Japan, registering a drop of 5 per cent year-on-year. Output of aluminium extrusion came in at 59,564 tonnes, down by 3 per cent over the year. The 2020 output fell for a third straight year despite a gradual recovery towards the year’s end. Demand in the same year fell below 2009 levels, triggered by global recession due to the COVID-19 pandemic. Shipments of aluminium sheet and...
Gränges, a supplier of rolled aluminium products for heat exchanger applications, reported sales volume of 350.6 ktonnes during the full year 2020, an increase of 0.9 per cent year-on-year. Net sales decreased by 8.1 per cent to SEK 11,008 million. Excluding acquisitions, sales volume and net sales decreased by 3.2 per cent and 11.3 per cent to 336.1 ktonnes and SEK 10,620 million. Gränges’ CEO Johan Menckel said, “Despite challenging market conditions following the COVID-19 pandemic, 2020 has been a productive year in many ways with a continued focus on expansion and growth as well as cost reductions and efficiency improvements in all regions. On the positive side, cash generation was very strong in the year with a cash conversion of 182 per cent and adjusted cash flow before financing...
Nigeria has entered into a recession after its GDP plunged for the second consecutive quarter. Africa’s biggest economy is in recession for the first time since 2016. The recession four years ago was its first in a generation, and the country emerged from it the following year. However, growth has been fragile and COVID-19 has hit the economy hard, amid low oil prices. The continent’s top oil producer and exporter rely on crude sales for 90% of foreign exchange earnings. The African nation on the Gulf of Guinea has recorded with 44,574 tonnes of aluminium bar rods and profiles import during 2019-20 and the expenditure occurred for the import stood at $99.75 million. The import for 2021 is analysed to be at 28,744 tonnes and the expenditure to stand at $60.78 million. Nigeria’s import of...
The board of National Aluminium Company Ltd (NALCO) has approved a buyback proposal worth INR 749.10 crore. The company plans to buy 13.02 crore shares at INR 57.50 per equity share for an aggregate not exceeding INR 749.10 crore. NALCO said in a BSE filing that ''the board of directors of the company in their meeting held on January 27, 2021, has inter-alia approved...buyback of not exceeding 13,02,79,083 (Thirteen Crore Two Lakh Seventy Nine Thousand Eighty-Three) fully paid-up equity shares..at a price of Rs 57.50 per equity share...in cash for an aggregate consideration not exceeding Rs 749,10,47,273 (Rupees Seven Hundred Forty-Nine Crore Ten Lakh Forty-Seven Thousand Two Hundred Seventy Three only.'' The company announced it will reveal further details in due course in accordance...
On Wednesday, January 27, global aluminium rolled products manufacturer Constellium and American industrial aluminium company Novelis announced the launch of Alumobility, a non-profit organisation to provide innovative, implementation-ready solutions for advancing the adoption of aluminium automotive body sheet. It is expected to drive value for automakers and consumers by helping them fulfill the promise of a lighter, more efficient, and more sustainable mobility future through collaboration and partnership with global automotive manufacturers. To elevate the usage of lightweight, high-strength, sustainable aluminium in the future automobile industry, Alumobility has already developed technical studies addressing the next-generation aluminium door and an all-aluminium structural...
Pralhad Joshi, the Indian Union Minister of Coal and Mines has reassured that the proposed preparation of the Detailed Project Report (DPR) of the brownfield expansion project of Nalco’s captive power plant (CPP) and smelter at Angul in Odisha is on track. In a recent letter to Dharmendra Pradhan, Minister of Steel who was seeking NALCO capacity expansion progress, on which Joshi said: “There is no change in the brownfield plans of the company.” "I have been informed that there is no change in the proposed expansion projects of NALCO at Angul district of Odisha. These projects are very much on priority. Preparation of detailed project report is underway and the company will do due diligence on their feasibility, based on the report," Joshi said. "Ministry of Mines is taking all steps for...
SMM aluminium ingot price has registered a drop for the three days in a row. As of Thursday, 28 January 2021, the price now stands at RMB 14870 per tonne, representing a decline of RMB 40 per tonne from Wednesday’s price of 14910 per tonne. The price is expected to range at RMB 14850-14890 per tonne. In Foshan and Wuxi, the price has reduced by RMB 50 per tonne each to stand at RMB 14810 per tonne and RMB 14860 per tonne. Their average prices are expected to range within RMB 14790-14830 per tonne and RMB 14850-14870 per tonne. Aluminium prices in Hangzhou and Chongqing stand at RMB 14910 per tonne and RMB 14830 per tonne, down RMB 40 per tonne and RMB 30 per tonne. Aluminium ingot prices in Shenyang, Tianjin, Linyi and Gongyi stand at RMB 14920 per tonne, RMB 14920 per tonne, RMB 14930...
Three-month LME aluminium lost 1.75 per cent to close at US$ 1,987.50 per tonne on Wednesday, January 27, with open interest falling to 739,000 lots. It is expected to trade between US$ 1,970-2,010 per tonne today. LME aluminium cash (bid) price and LME official settlement price decreased to US$ 2003.50 per tonne on Wednesday, January 27, following a hike from US$ 2011.50 per tonne to US$ 2025 per tonne on January 26. 3-months bid price and 3-months offer price also stood at US$ 2003.50 per tonne, down by US$ 14.50 per tonne from US$ 2018 per tonne on the previous day. Dec 21 bid price and Dec 21 offer price hovered around US$ 2075 per tonne, registering a downfall of US$ 15 per tonne. The LME aluminium opening stock increased to 1428225 tonnes from 1419775 tonnes. Live Warrants totalled...
On 28 th January 2021, the Japanese multinational organization Showa Denko KK stated that it would sell out its aluminium division to American investment firm Apollo Global Management as the manufacturer measures to divest assets. Showa Denko distinctively plans to sell out its aluminium rolling business for electronic components and the aluminium can business. However, the company did not reveal the details of the deal, but as per the sources it is assumed to be valued around $480.31 million. The process of selling off the subsidiary is a part of the company’s business portfolio restructure following the $9.2 billion acquisition last year of Hitachi Chemical, a supplier of materials for semiconductors, displays and lithium-ion batteries. Global private equity firms such as Apollo, KKR...
Aluminium Stewardship Initiative has welcomed Glencore as a new Production & Transformation member, bringing the total number of ASI members to 154. Glencore is world’s one of the largest global diversified natural resource companies, a major producer, and a marketer of more than 60 responsibly-sourced commodities. It processes and sells products from a wide range of third-party aluminium and alumina producers. Glencore offers its products and services to industrial customers, such as those in the automotive, steel, power generation, battery manufacturing, and oil sectors. Glencore’s services also include financing and logistics to producers and consumers of commodities. The group of companies has around 160,000 employees, including contractors. On becoming ASI’s new Production and...
The prosperous aluminium industry in the United Kingdom may see a shortfall in annual production by about 4.7 billion units and also the plant closures if a flat rate deposit return scheme (DRS) is adopted, according to Aluminium Packaging Recycling Organisation’s (Alupro) analysis on the implications of a poorly designed national scheme. Alupro has reportedly launched a report today, on January 27, analysing the environmental and economic effects of a flat rate scheme versus a variable rate deposit fee. The report has been developed in partnership with independent think-tank London Economics, alongside experts from across the UK packaging sector. The long-awaited DRS scheme is expected to come into effect in 2023, aiming at tackling plastic pollution, increasing recycling rates,...
Australia’s pioneering construction materials and industrial mineral manufacturing company, Adbri, has announced its contract extension with South32 alumina refinery. The five-year deal comprises of the exclusive supply of lime to the South32 Worsley Alumina refinery in Western Australia. The contract extension to May 2029 is driving the supply relationship with the refinery to over 40 years. The gross revenue over the term of the contract to 2029 represents approximately $224 million, which is subject to volume and price adjustments over this period, on materially similar commercial terms. Nick Miller, CEO, Adbri, said: “We are pleased to extend our long-term relationship with South32’s Worsley Alumina refinery.” “The extension of the contract demonstrates the strength of our Western...
