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 Aluminium Association of India (AAI) has asked the government to hike the basic custom duty on aluminium in the forthcoming Union Budget 2021-22. The Industry has sought support to raise imports duty on primary aluminium and scrap to 10% from current 7.5% and 2.5% respectively. AAI said, "The Indian Aluminium industry has sought immediate Government support to tide over this challenging phase by means of supportive measures in the forthcoming Union Budget 2021-22.” AAI said Union Budget recommendations are to raise “the basic custom duty on aluminium scrap at par with primary metal to proposed 10 per cent, as in line with other non-ferrous metals like copper, zinc, lead, nickel, tin etc...elimination of cess on coal (GST Compensation cess of Rs 400/MT) to support highly power...
Hindalco Industries Limited expanded its aluminium ingot and aluminium products prices for the second time in a row, with effect from Tuesday, January 26. Hindalco’s aluminium ingot price is currently standing at INR 169,750 per tonne, up by INR 2,250 per tonne from INR 167,500 per tonne on January 21. Hindalco’s aluminium wire rod price has also been raised by INR 2,250 per tonne from INR 178,600 per tonne on January 21 to INR 180,850 per tonne on January 26. The company’s aluminium billets price has come in at INR 176,850 per tonne compared with INR 174,600 per tonne about a week ago. Hindalco Industries Limited links the prices of its aluminium ingot and aluminium products to the three-month futures of aluminium on the London Metal Exchange, which after January 21 climbed to US$ 2025...
Alumina production in East & Central Europe improved 14,000 tonnes or 3.48 per cent month-on-month in December 2020 to 416,000 tonnes. The output in November was down by 10,000 tonnes or 2.43 per cent from 412,000 tonnes in October to 402,000 tonnes. Total production in the fourth quarter came in at 1.230 million tonnes, up 7.52 per cent quarter-on-quarter from 1.144 million tonnes and 6.77 per cent over the year from 1.152 million tonnes. On a year-on-year basis, East & Central Europe’s alumina production in December 2020 stood up by 5.58 per cent from 394,000 tonnes. In the entire year of 2020, alumina production in East & Central Europe totalled 4.597 million tonnes, 3.73 per cent higher than 4.447 million tonnes a year ago. In West Europe, alumina production grew 20,000 tonnes or 4.39...
Ecuador countered a worst economic downturn in 2020 due to the COVID-19 pandemic but is all set to rebound in 2021 as domestic and external demand gradually revives. Though, aspects of numerous risks linger which includes high unemployment, weighing on household spending, limited fiscal space to boost the recovery, and policy uncertainty ahead of February 2021 elections. FocusEconomics panellists project GDP to expand by 3.7% in 2021, which is up 0.6% points from last October’20 forecast. In 2022, the panel sees GDP growth moderating to 2.4%. The west coastal Latin American nation’s import of aluminium stranded wire during 2018-19 was recorded at 2995 tonnes and the revenue expenditure stood at $5.10 million. The import for 2020 remained at 2566 tonnes and the earning accounted to $3.23...
Global alumina production stood at 11.840 million tonnes in December 2020, an increase of 5.06% from 11.270 million tonnes in December 2019, according to the latest data showed by the International Aluminium Institute (IAI) on Tuesday, 26 January 2021. On a month-on-month comparison, the output rose 4% from 11.376 million tonnes. Source: the International Aluminium Institute (IAI) For the full year of 2020, total alumina production stood at 133.775 million tonnes, an increase of 1.41% from 131.910 million tonnes for the full year of 2019. In Africa and Asia ex-China, alumina production increased by 20.15% year-on-year and climbed by 4.78% month-on-month to 1.097 million tonne tonnes in December 2020. In January-December, output came in at 12.395 million tonnes, up from 10.329 million...
According to the International Aluminium Institute, primary aluminium production in Africa rebounded to 135,000 tonnes in December 2020, following a decline in the previous month. On a month-on-month calculation, Africa’s primary aluminium production grew in December by 6,000 tonnes or 4.65 per cent from 129,000 tonnes, which was down by 7,000 tonnes or 5.15 per cent from 136,000 tonnes in October 2020. On a year-on-year basis, Africa’s December output stood 2.88 per cent lower than 139,000 tonnes. Africa’s total primary aluminium production in the fourth quarter of 2020 amounted to 400,000 tonnes, down by 1,000 tonnes from 401,000 tonnes in the third quarter of the year. On a year-on-year basis, the output stood lower by 10,000 tonnes or 2.44 per cent from 410,000 tonnes. In the entire...
Ball Corporation has reportedly announced that it plans to begin construction of a new production facility of aluminium cans at Pilsen Digital Park by mid-2021. The facility worth €170 million will ramp-up Ball’s output in Czech Republic to meet the growing demand from consumers who want sustainable and recyclable beverage packaging. It is expected to employ about 200 people and launch operations in October 2022. Carey Causey, President at Ball Beverage Packaging EMEA, said: "This new facility is the next step in our commitment to the Czech Republic. In the Pilsen region we know we can find a skilled workforce close to our key customers, who will continue to benefit from our cutting-edge production processes, our commitment to the environment and a high-quality and sustainable beverage...
Lindian Resources, the ASX-listed West African bauxite mining company has finalized the memorandum of understanding (MoU) with Chinese giant, China Railway Seventh Group that will build a feasible infrastructure road map to support the development acceleration and kick-start bauxite production of the Perth-based company’s project in Guinea. Lindian said: “Zhengzhou-headquartered China Railway Seventh Group, a wholly-owned subsidiary of state-owned construction enterprise China Railway Group Limited which is listed on the Hong Kong and Shanghai stock exchanges, has a proven track record in infrastructure project delivery throughout Africa.” As per the terms of the MoU, both parties will consider towards entering a formal agreement to devise an infrastructure development plan for Lindian’s...
Three-month LME aluminium climbed 0.15% to close at US$2,023 per tonne on Tuesday, with open interest falling to 739,000 lots. It is expected to trade between US$1,990-2,050 per tonne today. As of Tuesday January 26, LME aluminium cash (bid) price stands at US$ 2025 per tonne, LME official settlement price stands at US$ 2025 per tonne; 3-months bid price stands at US$ 2018 per tonne, 3-months offer price is US$ 2018 per tonne; Dec 21 bid price stands at US$ 2090 per tonne, and Dec 21 offer price stands at US$ 2090 per tonne. The LME aluminium opening stock stood at 1419775 tonnes. Live Warrants totalled 1164825 tonnes, and Cancelled Warrants were 254950 tonnes. LME aluminium 3-months Asian Reference Price is hovering at US$ 2004.81per tonne. SHFE Aluminium Price Trend Benchmark aluminium...
The Norwich-based glazing manufacturer Norwich Aluminium Limited has moved to new 80% larger premises and recruited additional five new staffs as it pursues to hold its market share in the UK construction sector. Norwich Aluminium began its journey six years ago by Alex Warren. He was working in the glazing industry at the time and then he spotted an opportunity to move into aluminium, a material that was growing in popularity for commercial and architectural glazing. Warren set up the company in a unit on White Lodge Trading Estate in Norwich next to other established brands such as Screwfix and SIG, by re-mortgaging his house. He said: “Using my knowledge of the PVC-U market, I could see the growing opportunity in aluminium. I knew that if I wanted to leap, I had to react quickly to...
Extending hike for the fourth day in a row by RMB 5 per tonne, the average alumina spot price in China is standing at RMB 2,403 per tonne on Wednesday, January 27, according to Shanghai Metals Market data. All the major Chinese markets have also witnessed the growth of RMB 5 per tonne. In Shandong, Henan, and Shanxi, the alumina price is hovering around RMB 2,410 per tonne, while the price in Guizhou and Guangxi has come in at RMB 2,365 per tonne. Imported alumina price and Australian alumina FOB price have continued to remain restrained at RMB 2,500 per tonne and US$ 306 per tonne, respectively. Despite the continued hike in alumina price, the A00 aluminium ingot price in China has recorded a fall even today, on January 27, by RMB 50 per tonne to stand at RMB 14,910 per tonne, found SMM....
Emirates Global Aluminium has accomplished a major periodic refurbishment of its Potline 3 at Al Taweelah, one of the longest and most productive potlines in the world. The reduction cells (or ‘pots’) in which aluminium is smelted mandate re-lining after several years of production. During the refurbishment of the 444 reduction cells in Potline 3, EGA installed steel collector bars with copper inserts, designed within the company to improve performance. Copper has the best electrical conductivity of any metal. Its use in the collector bars reduces power consumption and unit greenhouse gas emissions and enables increased productivity as the reduction cells can be run at higher amperage. As extra voltage becomes available in the power supply system, this will also open opportunities to...
The Cardiff-based aluminium fabricator Dudley's Aluminium has injected £96,000 in machinery as it pursues to work on multiple important projects across the UK. The company has procured a Phantomatic M3 CNC machining centre, featuring three controlled axes allowing processing on three sides of the work-piece, as well as an electronic double mitre saws complete with a metal swarf extractor and connection kit. The machines have been purchased from Emmegi, a supplier of advanced equipment for aluminium, light-alloy and steel fabricators, to enhance Dudley’s existing major CNC machining centre. CNC machining is a process used in the manufacturing sector that involves the use of computers to control machine tools. Colin Shorney, Managing Director, Dudley’s Aluminium, said: "We are pleased to...
South America has been one of the worst-hit continents from the Covid-19 pandemic, globally. Brazil, Mexico, Argentina, Colombia, and Peru have reported major flare-up. However, Uruguay stands out as having successfully kept the spread of the virus restrained. Despite some recent increase in new daily cases over the past month, Uruguay has consistently kept its positive test rate under 2% since June’20. The South-eastern nation of South America has recorded 1256 tonnes of Aluminium Foil export during 2018-19 and the revenue earned from this export stood at $5.80 million. The export for 2020 remained at 871 tonnes and the earnings accounted for $4.32 million. When the export and earnings for 2020 get assorted with the existing two years, it demonstrates 2127 tonnes and $10.12 million...
Vedanta Limited has expanded its aluminium ingot and aluminium products prices for the second consecutive time, with effect from Tuesday, January 26. The company has raised its aluminium ingot price to INR 169,500-182,500 per tonne from INR 167,250-180,250 per tonne on January 21. This records an increase of INR 2,250 per tonne over the last four days. Vedanta’s aluminium wire rod price is hovering around INR 177,000-184,500 per tonne, as of January 26, growing by INR 2,250 per tonne as well from INR 174,750-182,250 per tonne. With the latest hike, Vedanta’s aluminium billets price has come in at INR 177,500 per tonne compared with INR 175,250 per tonne on January 21. Vedanta Limited links the prices of its aluminium products and aluminium ingot to the three-month futures of aluminium on...
Mahindra & Mahindra Limited, one of the biggest automakers in India, projects electric-vehicle sales to outperform gas guzzlers as prices become more aligned and infrastructure and technology improve. The company expects this to happen with help from the Government. Mahindra Deputy Managing Director Anish Shah said in an interview, “While authorities can assist in terms of cost parity for EVs, in India it’s difficult for the government to justify subsidizing cars for the rich. We have to find technology advances faster." According to him, the Government will have to play a significant role in developing the infrastructure of electric-vehicles, while on the technology front – charging times and driving ranges are fairly progressing already. “In three to five years’ time, we will have...
The average alumina spot price in China has recorded growth for the third consecutive day to stand at RMB 2,398 per tonne on Tuesday, January 26, according to Shanghai Metals Market. In Guizhou and Guangxi, alumina price is hovering around RMB 2,360 per tonne, registering a hike of RMB 10 per tonne from the previous day. In Shandong and Henan, the price has come in at RMB 2,405 per tonne, increasing by RMB 10 per tonne and RMB 5 per tonne, respectively. Imported alumina price and Australian alumina FOB price have, however, decided to remain muted at RMB 2,500 per tonne and US$ 306 per tonne, respectively. A00 aluminium ingot price, on the other hand, has decreased by RMB 70 per tonne to stand below RMB 15,000 per tonne. SMM data shows the price has come in at RMB 14,960 per tonne, with...
The British Aluminium recycling specialist firm Alwin has stated that a financing deal for new machinery has supported the organization to secure its future. The aluminium recycling firm said: “Close Brothers Asset Finance funded the purchase of a truck, forklift and crane through a Coronavirus Business Interruption Loan Scheme facility.” David Rowlingson, Managing director said: “It’s been a very difficult time for our sector and we are grateful Close Brothers Asset Finance stepped in and funded the assets we needed.” “We are proud to be family-run and employ around 40 people, all of whose futures were secured with this funding.” Alan Cardy, Dealer Manager for Close Brothers’ transport division, said: “With so many businesses adversely affected by Covid-19, we see it as our...
