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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Hindalco Industries Limited has cut its aluminium products price for the third time in a row. With effect from Tuesday, 19 January 2021, wire rods price stands at INR 179,100 per tonne, down by INR 1,250 per tonne from INR 180,350 per tonne on January 16. The company is selling its aluminium billets at INR 175,100 per tonne on January 19, representing a decline of INR 1,250 per tonne from INR 176,350 per tonne on January 16. Aluminium ingots price stands at INR 168,000 per tonne. 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...
RUSAL has collaborated with Henan Mingtai Aluminum Co., Ltd, for the supply of low-carbon aluminium products to meet rising market demand. RUSAL will deliver low-carbon primary aluminium under ALLOW brand to Mingtai’s plants, including the new Gwangyang rolling mill in South Korea. The Gwangyang complex, which will start its operations in Q3 2021, will supply products with reduced carbon footprint. Lord Barker, Executive Chairman of the Board of Directors of En+ Group, said: “I am pleased that En+ Group Metals segment represented by RUSAL has partnered with Mingtai. This clearly indicates China and South Korea’s forward-looking drive towards carbon neutrality. This is a transformational business opportunity generated by the growing market demand for more sustainable aluminium products....
The Indian Aluminium Industry is seeking immediate Government support to cross over the challenging phase it is currently facing. This is the Aluminium Industry’s expectations from the upcoming Union Budget 2021. India stands as one of the rapidly growing economies and fastest emerging markets in the world and the Aluminium Industry plays a vital role in the nation’s economy. The aluminium sector is of a strategically important for the country and a much-demanded commodity for multiple other industries, as it is a major role player in diversified applications which are crucial for the economy like energy, security, national defence, infrastructure, electrification, aerospace, automobile, consumer durables, packaging etc. Presently, the Indian Aluminium industry is going through a rough...
Vedanta Limited has further reduced its aluminium ingot and products prices for the second time in a row with effect from Tuesday, January 19. The company is currently selling its aluminium ingot at INR 167,750-180,750 per tonne, down by INR 2,250 per tonne or 1.32 per cent from INR 170,000-183,000 per tonne on January 14. Last time, Vedanta cut its aluminium ingot price by INR 1,750 per tonne or 1.02 per cent. With the latest cut, Vedanta’s aluminium wire rod price has come in at INR 175,250-182,750 per tonne compared to INR 177,500-185,000 per tonne on January 14. This records a decrease of INR 2,250 per tonne as well. Vedanta’s aluminium billet price is standing at INR 175,750 per tonne with effect from January 19, as against INR 178,000 per tonne on the previous day. Vedanta Limited...
Zambia is struggling hard for an economic turnaround with the blow Covid-19 pandemic. The country’s external debt is about $12billion, which is roughly 80% of the nation’s GDP. The economy was set to contract by 4.8% in 2020, according to the International Monetary Fund (IMF). The southern African landlocked nation’s import of aluminium cans during 2018-19 was recorded at 5239 tonnes and the expenditure occurred for the import remained at $290.03 million. The import for 2020 stood at 1687 tonnes and the expenditure accounted for $139.26. However, when the import volume and expenditure of 2020 gets assorted with the existing two gets, it reflects 6926 tonnes and $429.29 million respectively. Zambia’s import of aluminium cans in 2018 remained at 3676 tonnes, the highest in the phase of...
The United States’ Michelob ULTRA will roll out low-carbon aluminium cans over coming months. The company will distribute more than 2.5 million cans through a partnership between Anheuser-Busch and Rio Tinto. In October 2020, Rio Tinto and Anheuser-Busch InBev (AB InBev) formed a global partnership to deliver a new standard of sustainable aluminium cans, committing to work with supply chain partners to bring AB InBev products to market in cans made from low-carbon aluminium. These cans will reduce carbon emissions of more than 30 percent per can. Rio Tinto provides aluminium to Anheuser-Busch from its ELYSIS joint venture, a disruptive zero carbon aluminium smelting technology. Around 70 percent of the aluminium used in AB InBev cans produced is recycled content. This recycled content...
Rio Tinto, the world's second-largest metals and mining corporation, has reported its full-year and the fourth quarter production results of 2020, revealing that bauxite output in Q4 2020 stood at 13.3 million tonnes. That was up by 12 per cent per cent quarter-on-quarter. Full-year production was 56.1 per cent, increasing by 2 per cent year-on-year due to the ramp-up of the capacity expansion at the CBG mine in Guinea and steady performance at the Pacific mines. Rio Tinto Chief Executive Jakob Stausholm said, “We have delivered a strong safety and operational performance in the face of the significant global challenges of COVID-19. Our 2020 performance reflects the resilience of the business, and the commitment and flexibility of our employees, customers, communities and host...
Benchmark aluminium price on London Metal Exchange declined by 1.05 per cent on Monday, 18 January 2021, to stand at US$ 1979.50 per tonne, from US$ 2000.5 per tonne on Friday January 15. As of Monday January 18, LME aluminium cash (bid) price stands at US$ 1979.50 per tonne, LME official settlement price stands at US$ 1979.50 per tonne; 3-months bid price stands at US$ 1984 per tonne, 3-months offer price is US$ 1984per tonne; Dec 21 bid price stands at US$ 2063.50 per tonne, and Dec 21 offer price stands at US$ 2063.50 per tonne. The LME aluminium opening stock stood at 1397075 tonnes. Live Warrants totalled 1299700 tonnes, and Cancelled Warrants were 97375 tonnes. LME aluminium 3-months Asian Reference Price is hovering at US$ 1993.03per tonne. SHFE Aluminium Price Trend Benchmark...
A recent study has unfolded the major environmental oversight failures in the country's bauxite-alumina industry. The multidisciplinary study commissioned by the Jamaica Environment Trust (JET), comprises negligence of the state agency in monitoring air and underground water pollution in bauxite mining communities, failure to follow air pollution monitoring guidelines, as well as, weak enforcement of regulatory guidelines stipulated in mining permits. According to Diana McCaulay, Director, JET: “The failures were as a result of insufficient data-gathering efforts by the regulatory body and a delay in the implementation of a regulatory framework for the industry at its inception.” “We found that the regulatory framework for the industry was long delayed. So, although this industry is...
According to the latest data revealed by the National Bureau of Statistics (NBS), China’s aluminium production in 2020 increased by 4.9 per cent year-on-year to stand at 37.08 million tonnes, attributing to capacity ramp-up by smelters to cash in on soaring prices. Output in December stood all-time high at 3.27 million tonnes even the price rally cooled. That was up by 2.8 per cent month-on-month from 3.182 million tonnes, surpassing the previously monthly record of 3.2 million tonnes in October 2020. According to NBS data, China’s full-year aluminium output in 2020 beat the last annual peak of 35.802 million tonnes in 2018. Production dropped in 2019 for the first time in a decade. Shanghai aluminium prices fell 4.2 per cent in December after hiking by 22.5 per cent over 2020 during the...
A00 aluminium ingot price in China has again come below RMB 15,000 per tonne after hiking in the past two consecutive days to stand at RMB 15,060 per tonne on Monday, January 18, found the Shanghai Metals Market. According to SMM data, the price is hovering around RMB 14,830 per tonne on Tuesday, January 19, a decrease of RMB 230 per tonne from the previous day. The average prices are expected to range between RMB 14,810 per tonne and RMB 14,850 per tonne, with spot contract to be traded at a premium price of RMB 60-100 per tonne. In Chongqing, primary aluminium ingot price has declined the highest by RMB 250 per tonne to stand at RMB 14,820 per tonne, followed by the fall of RMB 240 per tonne in Gongyi and Linyi to come in at RMB 14,730 per tonne and RMB 14,920 per tonne, respectively....
On 18 th January 2021, Emirates Global Aluminium (EGA) and Dubai Electricity and Water Authority (DEWA) announced a new global milestone placing the United Arab Emirates as the first country in the world to produce aluminium using the solar energy. The milestone supports the vision of HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to make Dubai the most sustainable city in the world and to take the lead in the development and application of scientific and technological advances in the energy sector. DEWA will supply EGA’s aluminium smelter with 560,000 megawatt-hours of solar power yearly from the Mohammed bin Rashid Al Maktoum Solar Park, sufficient to make 40,000 tonnes of aluminium in the first year with the potential for...
EN+ GROUP has publicized its ambition to become net-zero by 2050 and to reduce Greenhouse Gas ("GHG") emissions by at least 35% by 2030. These stretching targets cover complete emissions across all operations, which incorporate aluminium production plus heat and electricity production. In 2019, the Group's metal business, UC Rusal, produced 6% of the world's aluminium and its power segment, EuroSibEnergo, generated over 64 TWh of clean hydropower. The Group believes that the targets announced on 18 th January 2021 represent the most ambitious carbon reduction targets yet seen in the global aluminium industry, setting a new standard in one of the most energy-intensive industries in the global economy. The Board has approved targets of at least a 35% reduction in GHG emissions by 2030 and...
In the English landlocked county, Leicestershire, across the region litter pickers have grouped to collect five million aluminium cans to build a helipad for the Leicester Royal Infirmary. South Leicestershire litter womble Geoff Walker, from Braunstone, and the founder of the charity Helipads for Hospitals, John Nowell are leading the scheme. The duo John and Geoff have joined hands to collect the cans, which will be crushed and melted down to form the actual helipad for the LRI. They are also aiming to eventually collect enough cans for one at the QMC in Nottingham too. Geoff, who is now 69 years old, said: "In November 2019, we started to collect cans for the LRI and the QMC.” "The problem is that the LRI currently doesn't have space for a helipad, but with all the work that is being...
Hindalco Industries Limited has reduced its aluminium products price for the second time in a row. With effect from Saturday, 16 January 2021, wire rods price stands at INR 180,350 per tonne, marking a drop of INR 1,500 per tonne from INR 181,850 per tonne on January 12. The company is selling its aluminium billets at INR 176,350 per tonne on January 16, down from INR 177,850 per tonne on January 12. Aluminium ingots price has dropped to stand at INR 169,250 per tonne, down INR1,500 per tonne. 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,...
SMM aluminium ingot price opened the week higher. The price stands at RMB 15060 per tonne on Monday, 18 January 2021, a growth of RMB 120 per tonne from Friday’s price of RMB 14940 per tonne. The price is expected to move within a range of RMB 15040-15080 per tonne. In Foshan and Wuxi, the price has climbed by RMB 130 per tonne and RMB 95 per tonne to stand at RMB 15080 per tonne and RMB 15065 per tonne. Aluminium prices in Hangzhou and Chongqing have come in at RMB 15070 per tonne each, up RMB 95 per tonne and RMB 120 per tonne. Aluminium ingot prices in Shenyang, Tianjin, Linyi, and Gongyi have increased to stand at RMB 15100 per tonne, RMB 15080 per tonne, RMB 15160 per tonne, and RMB 14970 per tonne. The price of Aluminium Alloy (A356) has hiked by RMB 100 per tonne to stand at...
Three-month LME aluminium closed 1.29% lower at US$1,982 per tonne on Friday, with open interest increasing 2,467 lots to 750,000 lots. SMM expects the contract to fluctuate between US$1,950-2,010 per tonne today. As of Friday January 15, LME aluminium cash (bid) price stands at US$ 2000.50per tonne, LME official settlement price stands at US$ 2000.50 per tonne; 3-months bid price stands at US$ 1998.50 per tonne, 3-months offer price is US$ 1998.50 per tonne; Dec 21 bid price stands at US$ 2070per tonne, and Dec 21 offer price stands at US$ 2070 per tonne. The LME aluminium opening stock stood at 1288675 tonnes. Live Warrants totalled 1188000 tonnes, and Cancelled Warrants were 100675 tonnes. LME aluminium 3-months Asian Reference Price is hovering at US$ 2008.75per tonne. SHFE Aluminium...
Colombia hosting almost 1.8 million Venezuelans as of May’20 stands by far the largest destination country for displaced Venezuelans. Since the beginning of the crisis in Venezuela, the Colombian government has maintained an open and constructive response towards the arrival of displaced Venezuelans. The country’s economic lockdown and quarantine have resulted to plunge Colombia’s GDP to fall by almost 8% in 2020, driving the country into its first recession in two decades. This economic slowdown is having severe effects on the Colombian labour market, with the unemployment rate reaching 19.8% in June 2020. The transcontinental nation’s import of aluminium tubes and pipes during 2018-19 was recorded at 3535 tonnes and the foreign revenue expended on the import remained at $ 12.16 million....
