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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On Wednesday, January 20, Alcoa Corporation, the world’s eighth-largest aluminium producer, reported the fourth quarter and full-year results of 2020 that reflect strong operational performance. In Q4 2020, the company produced 12.2 million dry metric tonnes of bauxite compared to 12 million dry metric tonnes in Q3 2020 and 12.1 million dry metric tonnes a year ago. In the entire 2020, Alcoa’s bauxite output stood at 48 million dry metric tonnes, up by 1.27 per cent from 47.4 million dry metric tonnes in 2019. Third-party bauxite shipments in the fourth quarter of the year grew 18.75 per cent quarter-on-quarter and 26.67 per cent year-on-year to 1.9 million dry metric tonnes, bringing the total shipments to 6.5 million dry metric tonnes in 2020 compared to 6.2 million dry metric tonnes...
The economy of South Africa recovered robustly in the Q3 from a plunge inflicted by the coronavirus pandemic. Africa’s second-largest economy expanded 13.5% Q-on-Q in July-September, "largely as a result of the easing of Covid-19 lockdown restrictions," as per statistics agency StatSA. Manufacturing, trade and mining were 'the biggest drivers of growth in the third quarter,' statisticians added. The southernmost African nation’s export of aluminium stranded wires during 2018-19 was recorded at 1474 tonnes and the revenue earnings stood at $53.12 million. The import for 2020 remained at 517 tonnes and the revenue earnings stood at $18.62 million. However, when the import volume and earnings for 2020 gets summed with the previous two years, it denotes 1991 tonnes and $71.74 million...
A00 aluminium ingot price has jumped by RMB 270 per tonne on Thursday, January 21, to stand above RMB 15,000 per tonne, following the past two consecutive days of decline. Shanghai Metals Market data shows the primary aluminium ingot price has come in at RMB 15,020 per tonne, with average prices to range between RMB 15,000 per tonne and RMB 15,040 per tonne. The spot contract is likely to be traded at a premium price of RMB 120-160 per tonne, up by RMB 60 per tonne from the previous day. In Wuxi, A00 aluminium ingot price has soared by RMB 325 per tonne to stand at RMB 15,125 per tonne, followed by the surge of RMB 310 per tonne to RMB 15,135 per tonne. In Chongqing, primary aluminium ingot price has come in at RMB 15,135 per tonne growing by RMB 310 per tonne, while the price in...
Indian business tycoon Kumar Mangalam Birla, the owner of $48 billion Aditya Birla Group has an interesting thought on how the recovery of the Indian economy is being distinguished, as per his view “markets are euphoric and economists are pessimistic.” The thinking which has come from one of the country’s biggest industry leader is significantly ahead of India’s annual budget on 1 st February 2021. However, Birla shared the same thought that even the Reserve Bank of India (RBI) has. The RBI, in its latest financial stability report, highlighted that in India, while the economy has been called out as “weak”, the stock markets have moved to an all-time high. Kumar Mangalam Birla is more optimistic than the economists at Reserve Bank of India (RBI), or elsewhere. “In India too, the initial...
On 20 th January 2021, the Global Mineral Recovery Company (GMR) publicised this morning the commissioning of its commercial demonstration unit for the recovery of bauxite residues on the site of Rio Tinto’s Vaudreuil Alumina plant. The $ 9 million project was initiated in 2017. The US-based technology-focused company, GMR, has established a division in Montreal since 2018 and it has designed a pyrometallurgical technology to treat and recover the bauxite residues from the production of alumina. This process transforms and extracts specific compounds from the residue, making it useful in certain building material applications. GMR will also transform and market the substantial portion of the “red” iron oxide mined from the bauxite residue. Ultimately, GMR intends to succeed in extracting...
The LME complex rose across the board on Wednesday, with aluminium climbed 0.79 per cent. Benchmark aluminium price on the London Metal Exchange grew by 1.26 per cent to close at US$ 1976 per tonne on January 20. LME aluminium cash (bid) price and LME official settlement price increased to US$ 1976 per tonne from US$ 1951.50 per tonne on January 20, following three consecutive days of decline. 3-months bid price and 3-months offer price stood at US$ 1977 per tonne, up by US$ 19 per tonne from US$ 1958 per tonne on January 19. Dec 21 bid price and Dec 21 offer price hovered around US$ 2055 per tonne. The LME aluminium opening stock remained almost flat at 1417050 tonnes. Live Warrants totalled 1286575 tonnes, while Cancelled Warrants stood at 130475 tonnes. LME aluminium 3-months Asian...
Beverage packaging manufacturer Crown has made public that its Brazilian subsidiary Crown Embalagens plans to build its sixth beverage can facility in the Latin American nation. The new plant will produce two-piece aluminium cans in various sizes and will have two lines, both of which are forecasted to begin production next year. Crown Embalagens’ upcoming facility will be located in Minas Gerais state in southeast Brazil, to grab the growing demand in the region for beer and soft drink cans. Djalma Novaes, President of Crown’s Americas division, said: “Brazil is an important growth market for us and our partner, Évora S.A. This expansion will help meet the country’s increased demand for beverage cans and demonstrates the Crown’s continuing commitment to grow with our customers.” “The...
As we have crossed one of the difficult years in the history of industrialisation and entered 2021 with a lot of hopes and inspiration, AlCircle think tank came up with a conclusive preview report “Global Aluminium Industry Outlook 2021” . The preview report elaborates the future of the global aluminium industry in 2021 and ahead. The primary focus of the report is to touch upon the significant developments of this ongoing year vertical wise, in a bid to analyse how every vertical influence each other’s growth or counter-growth. The global aluminium usage is estimated to have declined by 4.1% to 84.5 million tonnes in 2020, while the rest of the world is still reeling under the impact of the pandemic. However, China has managed to strengthen up it's economy and aluminium usage, which is...
Vedanta Limited has extended the price cut of its aluminium ingot and aluminium products by INR 2,250 per tonne with effect from January 20, 2021, as the three-month futures of aluminium on the London Metal Exchange continued to shrink till January 19, marking the third consecutive day of fall. Vedanta is currently selling its aluminium ingot price at INR 165,500-178,500 per tonne versus INR 167,750-180,750 per tonne on January 19. With the latest price cut for the third consecutive day, Vedanta’s aluminium wire rod price has come in at INR 173,000-180,500 per tonne compared to INR 175,250-182,750 per tonne on the previous day. Vedanta’s billet price has pegged at INR 173,500 per tonne. Vedanta Limited links the prices of its aluminium products and aluminium ingot to the three-month...
Cyprus was moving on an enterprising growth path before the global outbreak of COVID-19. The pandemic and the restriction measures that followed have dramatically changed the scenario. In the first quarter of 2020, economic growth slowed down considerably, 0.8% (year-on-year), reflecting a significant fall in external demand for goods and tourism. Economic sentiment and expectations in services are at a historic low, despite a slight improvement in June’20. Tourism, the main pillar of Cyprus’ economy, has been severely affected. The COVID-19 pandemic is expected to significantly dampen international demand for tourism. Tourist arrivals and revenues decreased by 46.5% and 52.4%, respectively in the first quarter of 2020 (year-on-year). The island nation in the eastern Mediterranean has...
The Aluminium Stewardship Initiative has certified Audi against Chain of Custody (CoC) Standard for rolled material press shop operations undertaken at production facilities in Neckarsulm and Ingolstadt, Germany. At the two facilities, rolled material press operations create automotive body parts from aluminium sheet material. It collects aluminium scrap generated in the process in a separate stream and sends it for recycling in a closed-loop system. The ASI Chain of Custody (CoC) Standard sets out requirements for the creation of a Chain of Custody for material that is produced and processed through the value chain into diverse downstream sectors. On receiving the CoC Standard certification, Dirk Gross-Loheide, Board Member for Procurement and IT at AUDI AG, commented: “We are...
Three-month LME aluminium climbed 0.15 per tonne to close at US$ 1,973 per tonne on Tuesday, with open interest falling to 742,000 lots. The impact of LME aluminium inventory changes on prices should continue to be monitored. It is expected to trade between US$ 1,900-2,010 per tonne today. As of Tuesday, January 19, LME aluminium cash (bid) price and LME official settlement price plunged by US$ 28 per tonne to stand at US$ 1951.50 per tonne, marking the third consecutive day of decline. 3-months bid price and 3-months offer price stood at US$ 1958 per tonne, down by US$ 26 per tonne from US$ 1984 per tonne on January 18. Dec 21 bid price and Dec 21 offer price hovered around US$ 2038 per tonne. The LME aluminium opening stock increased further from 1397075 tonnes to 1414675 tonnes. Live...
The aluminium arm of Vedanta Group, Vedanta Aluminium becomes the first in the Group to drive the COVID-19 vaccination program for its medical personnel and healthcare staff. The vaccination program was organised by joining hands with the District Health Administration of Jharsuguda, Odisha. In the first phase, 125 personnel from Vedanta’s Occupational Health team will be vaccinated. On 19 th January 2021 vaccination program, held in strict adherence to all COVID guidelines and under the close supervision of the district administration, the government agency that provided the vaccine and other required medical equipment. Mr Rahul Sharma, Dy. CEO, Aluminium Business, Vedanta Ltd., said: "Under the visionary leadership of Shri Naveen Patnaik, Hon’ble Chief Minister of Odisha, the state has...
Average alumina spot price in China has recorded a growth of RMB 9 per tonne on Wednesday, January 20, after remaining restrained at RMB 2,367 per tonne in the past two consecutive days. The price today has clocked at RMB 2,376 per tonne, according to Shanghai Metals Market data. In Shandong and Shanxi, alumina spot price has increased by RMB 10 per tonne to RMB 2,380 per tonne and RMB 2,395 per tonne, respectively, while that in Henan has inched up by RMB 5 per tonne to RMB 2,390 per tonne. Australian alumina FOB price has grown by US$ 2 per tonne to stand at US$ 305 per tonne on January 20, found SMM. Imported alumina price has remained restrained at RMB 2,445 per tonne. Despite the rise in alumina spot price, A00 aluminium ingot price has extended downfall by RMB 80 per tonne to stand...
According to Shanghai Metals Market data, secondary aluminium producers operating rates in China increased slightly by 0.23 percentage point month-on-month to stand at 62.65 per cent in December 2020. This marks the second consecutive month of rising in secondary aluminium operating rates as they grew by 4.9 percentage points month-on-month in November 2020 to 62.4 per cent. However, on a year-on-year calculation, operating rates in December fell by 3.35 percentage points. The monthly increase in December operating rates could be attributed to strong orders from downstream automakers. Some secondary aluminium produces trimmed output in the first half of 2020 due to shortage of raw materials, but it recovered in H2 2020 as aluminium scrap prices fell along with primary aluminium prices....
The Japanese metal products maker Kobelco has been forced to shut down temporarily its aluminium product plants after discovering a group of Covid-19 infections. On 19 th January’2021, Kobelco is planning to close its aluminium extrusion plant at Chofu works in western Japan's Yamaguchi prefecture. The aluminium extrusion plant is will remain closed for three days until 21 st January 2021, allowing the firm to focus on quarantine measures and Covid-19 tests on more than 900 plant staff. However, Kobelco stated: “The closure is unlikely to affect shipments and customer deliveries of aluminium products at this stage because of ample stocks.” The company has confirmed 12 cases of Covid-19 at the Chofu works. The new rise in infections has led to tighter Covid-19 measures, with Japan...
Aluminium Stewardship Initiative has certified Hydro’s aluminium extrusion plant in Magnor against its Performance Standard, recognising the plant’s responsible production, sourcing, and stewardship of aluminium. The certification covers the site’s production of aluminium solutions, including extrusion and fabrication activities, and surface treatment. Magnor extrusion plant develops and produces around 7,500 tonnes of aluminium profiles annually, serving customers in the building, electronics, general engineering, and transport markets. It employs about 100 people and is the first aluminium extruder in Norway to achieve ASI certification. “It is nice to be rewarded for the hard work our team has done and achieve this goal. ASI Certification is important to our sustainability agenda, and...
China, the world’s biggest aluminium producer, imported 265,569 tonnes of unwrought aluminium and aluminium products in December, the highest since September 2020, found the General Administration of Customs data. The import volume in December was up by 40.43 per cent month-on-month from 188,973 tonnes and by 147.3 per cent on year. Full-year shipments in 2020 were 2.7 million tonnes, up 318.7 per cent than in 2019. Rapid demand recovery for aluminium in China after the COVID-19 outbreak led to Shanghai aluminium price surge over London, resulting in an open arbitrage for cheaper imports. China’s aluminium imports in 2020, including both primary aluminium and unwrought alloy, surpassed the previous annual record set in 2009. China turned net importer in July and August for the first time...
