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 16 th January 2021, the AGB2A Company as a part of its development has signed an agreement with its strategic partner Sunda Mining (SD Mining) SA, in presence of the CEO of Axis at Conakry, capital of West African nation Guinea. The agreement spotlights for the exploitation of more than 20 million tonnes of bauxite on the Konyakhouré plateau, located on the license of the company AXIS Mineral Resources S.A., west of the FATALA river. Following the vision of the Guinean authorities, this agreement is part of a major project, of which AGB2A is the promoter, consisting in the pooling of mining infrastructure, and the construction of crossing structures, on both sides of FATALA, in the Boffa Corridor. The primary objective of this project is to proffer more opportunities for the removal of...
Mekapati Gautam Reddy, the Minister for industries and Commerce for the Indian state Andhra Pradesh asked the officials to speed up land acquisition for Utkarsha Aluminium Dhatu Nigam Ltd's proposed plant at Kodavalur mandal in Nellore district. On 16 th January 2021, the Minister at his camp office reviewed the advancement of the project with the officials and representatives of the company. He said any irregularities in payment of compensation to the farmers who handed over lands for the project should be settled and additional land should be acquired if needed for setting up the industry. Gautam Reddy discussed with the representatives of Utkarsha Aluminium, a special purpose vehicle for setting up the unit of Midhani, towards the investment for the unit and details of the direct and...
The bauxite tycoon, Fadi Wazni, after acquiring the world's number one speciality alumina refinery in France, Alteo, the Franco-Guinean Chairman of the Board of Directors of the Boké mining company, plans to develop an alumina refinery in Guinea. The buyout plan by the Guinean UMS (United Mining Supply) of the French alumina plant Alteo, world number one in speciality alumina, was in receivership since December 2019 and was validated on 7 th January 2021 by the Marseille commercial court. Already present in the exploitation of bauxite through the Boké Mining Company (SMB) in which its UMS group is associated up to 30% with Singaporean Winning Shipping and Chinese Shandong Weiqiao, Franco-Guinean Fadi Wazni, born in Lebanon, therefore ensures control of a large part of the sector, by...
As the petrol and diesel prices are gaining to reach the highest levels in India, providers of eco-friendly motoring in the form of electric vehicles are shoving to the wheel of green mobility. The fresh development on this front comes from Indian city Bangalore-based Mahindra Electric. Mahindra Electric is testing out a new form of energy source on its popular three-wheeler Treo, i.e. Aluminium-air batteries. The metal-air batteries are considered to be equal in the performance of traditional fuel. It can be refilled in just 5 minutes, require light-infrastructure, are weather-proof and most importantly lower the cost of EVs. In February 2020, Indian Oil (IOCL), the country’s leading oil marketing company, signed its partnership with Israel-based Phinergy to manufacture Aluminium-air...
India has now developed its first-ever indigenously made 9mm machine pistol ‘ASMI”, added another pride to its defence capabilities. The weapon has been jointly developed by the Defence Research and Development Organisation (DRDO) and the Indian Army, as stated by the Ministry of Defence. It has been developed by a young officer from Infantry School Lt Col Prasad Bansod in a record time of four months. The weapon has the capability of firing the in-service 9 mm ammunition. The weapon has been named “Asmi” which means 'pride', 'Self-Respect' and 'Hard Work'. As per the statement from DRDO: "The Army's infantry school in Mhow and the DRDO's Armament Research and Development Establishment (ARDE) in Pune have designed and developed the weapon." "The machine pistol fires the in-service 9mm...
SMM aluminium ingot price trended lower, except Friday. The price declined by RMB 310 per tonne and RMB 350 per tonne to stand at RMB 15400 per tonne and RMB 15050 per tonne on Monday,11 January and Tuesday,12 January. The price further dropped to RMB 14720 per tonne on Thursday, down from RMB 14900 per tonne on Wednesday. Aluminium ingot price ended the week higher at RMB 14940 per tonne on Friday, 15 January 2021. According to Shanghai Metals Market, the social inventories of primary aluminium continued to grow, although slower than the previous week. Data shows the inventories gained 20,000 tonnes across eight major Chinese consumption areas, including SHFE warrants, week-on-week at 684,000 tonnes on Thursday, January 14. The alumina price in China remained flat this week. The average...
National Aluminium Company Limited (NALCO) has cut its aluminium ingot and products prices with effect from Saturday, January 16, following a significant hike ten days ago on January 6. According to the company’s price update, aluminium ingot price has come in at INR 169,550-173,050 per tonne, down by INR 2000 per tonne from INR 171,550-175,050 per tonne on January 6. Last time, Nalco’s aluminium ingot price was increased by INR 4,100 per tonne from INR 167,450-170,950 per tonne on January 1. With the latest price slash, NALCO’s aluminium wire rod price is ranging between INR 173,050- 177,400 per tonne and aluminium billets price between 173000- 175650 per tonne, recording a decrease of INR 2,000 per tonne as well. NALCO, like any other Indian aluminium producers, links its aluminium...
Benchmark aluminium price on the London Metal Exchange decreased this week by 0.37 per cent to settle at US$ 2000.50 per tonne amid the incessant decline in LME aluminium opening stock from 1305825 tonnes to 1288675 tonnes. LME aluminium cash (bid) price and LME official settlement price closed lower this week at US$ 2000.50 per tonne on Friday, January 15. The prices started at US$ 2008 per tonne on Monday, January 11, and gained US$ 2025.50 per tonne on Tuesday, January 12. On Wednesday, the price declined again to US$ 2009.50 per tonne, followed after a marginal growth of US$ 1 per tonne to US$ 2010.50 per tonne on Thursday, January 14. They shrunk further on the next day by US$ 10 per tonne. 3-months bid price and 3-months offer price also started the week on January 11 at US$ 2008...
Hydro announced shipments of low-carbon aluminium products to European customers using Norway’s biggest sailing vessel SC Connector. The shipment has about 200 tonnes of Hydro REDUXA low-carbon aluminium. “We want to work with the most forward-leaning companies when it comes to developing greener technology for sea transportation. This retrofitted vessel with rotor sails is a very good starting point and we look forward to seeing what kind of opportunities this represents moving forward,” said Susanne Vinje, Head of Logistics in Hydro. Sea-Cargo will transport all finished products from the cast houses in Norway to Europe from 2021. The technology in the vessel reduces fuel consumption and CO2 emissions. “The sails are 35-meter-tall, 5-meter-wide cylinders. The vessel´s total air draft...
PMS Aluminium, the Bursa-Turkey based company selects Danieli Breda to deliver a new, 40-MN, 10-in. front-loading extrusion press. The objective of PMS Aluminium's investment is to expand its product portfolio for the automotive sector with aluminium hard-alloy profiles. PMS Aluminium produces 60,000 tonnes of flat and extruded products, of which 60% is exported, serving the construction, machinery, furniture, industrial applications and solar power markets, as well as automotive. The installation of the new Danieli 40-MN press will make it stand among the largest extrusion presses in Turkey and features the ultra-modern technological innovations, such as: Danieli Breda's patented energy-saving system 'ESED 4.0,' which enables an average energy savings of 25-30%; Press control system...
The United States aluminium crude metal and alloys imports from the United Arab Emirates fell for the second consecutive month in October 2020, according to the latest data revealed by the US Geological Survey. Data shows the imports decline by 8,500 tonnes or 26.73 per cent month-on-month to come in at 23,300 tonnes in October. In September, the imports were down by 1,900 tonnes or 5.64 per cent from 33,700 tonnes in August to 31,800 tonnes. In July, the United States imported 7,350 tonnes of aluminium crude metal and alloys from the UAE, meaning the imports in August witnessed a month-on-month jump of 358.5 per cent. On a year-on-year calculation, the US aluminium semis imports from the UAE stood 48.41 per cent higher than 15,700 tonnes. In the first ten months of 2020, the US aluminium...
According to a report on Thursday, January 14, Metro Mining is planning to recommence its operations at the Bauxite Hills mine project, which was shut for the wet season from mid-September 2020. The operation is expected to resume in April 2021 for deliveries restarting under the existing 7 million tonnes bauxite offtake contract with China's Xinfa Group. Metro Mining witnessed a strong operational performance in early 2020 and thereby a good financial output with cash on hand and other receivables of $45.8 million, as of September 30, 2020. Sales revenue in the September quarter stood at A$61.9 million, generating site EBITDA of A$9.5 million. Bauxite mining in the quarter was 1.062 million wet metric tonnes, while the shipment was 1.23 million wet metric tonnes bringing the year-to-date...
Aluminium packaging collected for recycling in the UK recorded its highest in 2020, according to Preliminary figures by the Environment Agency. Data showed that 145,035 tonnes of aluminium packaging was collected for recycling last year. The data from the National Packaging Waste Database (NPWD) revealed a 24 per cent increase from the 2019 data and a 26 per cent rise from 2020 target. The final data is yet to come as reprocessors and exporters will disclose data by the end of this month. Rick Hindley, executive director at Alupro, said: “While only preliminary figures, I was delighted to read the latest data published on the NPWD. The past 12 months have seen a significant increase in the volume of aluminium packaging collected for recycling, which should be seen as a considerable...
Rio Tinto has announced the construction of new scandium oxide plant at its Rio Tinto Fer et Titane (RTFT) metallurgical complex in Sorel-Tracy, Quebec. The company is set to the first producer of high-quality scandium oxide in North America. The commercial supply is likely to start in the second quarter of 2021. The plant, which will cost US$6 million for first module, will have an initial capacity to produce three tonnes of scandium oxide per year. Rio Tinto Iron and Titanium managing director Stéphane Leblanc said: “We are proud to offer North America’s first reliable supply of scandium oxide using an innovative and sustainable process, with the construction of this new plant. Rio Tinto has been engaged in the exploration and production of rare earths and critical minerals globally for...
South Korea's imports of aluminium scrap from the US stood at 28,500 tonnes in October 2020, with a year-on-year increase of 18.75%. South Korea had imported 24,000 tonnes in October 2019. On a monthly basis, imports rose by 17.77% from 24,200 tonnes in September 2020, as updated by the US Census Bureau. In the first ten months of 2020, South Korea imported 243,000 tonnes of aluminium scrap, from 227,000 tonnes imported in the first ten months of 2019. This marked an increase of 7.05% year-on-year. South Korea's imports of total aluminium (semi-finished products, crude metals and alloy and scrap) from the US came in at 29,500 tonnes in October 2020, a increase of 13% from 26,100 tonnes in October 2019. Imports stood 15.69% higher from September’s imports of 25,500 tonnes. In...
Vedanta Limited again decreased its aluminium ingot and aluminium product prices on January 14 after increasing them on the previous day. With effect from Thursday, January 14, Vedanta slashed its aluminium ingot price by INR 1,750 per tonne or 1.02 per cent from INR 171,750-184,750 per tonne to INR 170,000-183,000 per tonne. With the latest price cut, Vedanta’s aluminium wire rod price has come in at INR 177,500-185,000 per tonne compared to INR 179,250-186,750 per tonne on January 13. This records a decrease of INR 1,750 per tonne as well. Vedanta’s aluminium billet price is standing at INR 178,000 per tonne with effect from January 14 as against INR 179,750 per tonne on January 13. Vedanta Limited links the prices of its aluminium products and aluminium ingot to the three-month futures...
Constellium announced a new R&D initiative in France, Project ISA3, in collaboration with Groupe Renault, ESI Group, Institut de Soudure (Welding Institute), and the University of Lorraine. The project worth €7 million will develop lightweight, recyclable and cost-efficient aluminium solutions for the automotive market. The project, partially funded by Bpifrance, is planned to run through 2023. “We are very excited about Project ISA3 and the opportunity to further demonstrate Constellium’s commitment to providing sustainable solutions to its automotive customers. We believe this project will advance aluminium’s position in the automotive market as manufacturers seek to reduce carbon emissions and expand their electric vehicle offerings. This partnership with a strategic customer allows us...
Shanghai Metals Market data showed aluminium billet inventories in China decreased by 3,000 tonnes this week, ending on Thursday, January 14. According to SMM data, aluminium billet stocks fell across five major Chinese consumption areas to stand at 82,700 tonnes, following a surge of 14,900 tonnes last week to 85,700 tonnes. Slight increase in shipments at warehouses was the primary reason for the decline in aluminium billet inventories this week, found SMM. The chart below indicates the current status of aluminium billet inventories across China in more details: Decline in aluminium billet inventories on January 14 did not touch upon all the major Chinese cities such as Wuxi and Nanchang. The stocks there grew by 1,300 tonnes and 500 tonnes, respectively, to stand at 12,400 tonnes and...
