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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As updated by Shanghai Metals Market, average spot alumina price in China has increased by RMB 27 per tonne today after five days of restrained at RMB 2340 per tonne. The price now stands at RMB 2367 per tonne as of Friday, 15 January 2021. Alumina prices in Shandong and Henan have risen by RMB 20 per tonne and RMB 35 per tonne to stand at RMB 2370 per tonne and RMB 2385 per tonne. The prices of alumina in Shanxi, Guizhou, Guangxi China markets have climbed by RMB 30 per tonne, RMB 15 per tonne and RMB 15 per tonne to stand at RMB 2385 per tonne, RMB 2300 per tonne and RMB 2300 per tonne on Friday, 15 January 2021. Alumina (Imported) price has reduced to RMB 2445 per tonne, representing a drop of RMB 15 per tonne after remaining unchanged at RMB 2460 per tonne since January 7. The average...
The LME complex closed mixed on Thursday. Benchmark aluminium price on the London Metal Exchange grew slightly by 0.50 per cent to close at US$ 2010.50 per tonne on January 14. LME aluminium cash (bid) price and LME official settlement price inched up marginally by US$ 1 per tonne from US$ 2009.50 per tonne to US$ 2010.50 per tonne on Thursday, January 14. 3-months bid price and 3-months offer price stood at US$ 2009 per tonne, up by only USS$ 0.50 per tonne from US$ 2008.50 per tonne. Dec 21 bid price and Dec 21 offer price climbed US$ 3.5 per tonne to stand at US$ 2079.50 per tonne. The LME aluminium opening stock decreased from 1293300 tonnes to 1285125 tonnes. Live Warrants totalled 1179500 tonnes, while Cancelled Warrants 105625 tonnes. LME aluminium 3-months Asian Reference Price...
A developer of new battery technology, Phoenician Energy has been picked as the winner of the Yara Marine Technologies start-up support programme Yara Marine X. Yara Marine Technologies started the Yara Marine X program earlier this year. Now, after months of search, they finally found a winner amongst the many applicants. Thomas Koniordos, CEO of Yara Marine Technologies, said: “Phoenician Energy’s use of aluminium-air battery technology for the maritime industry triggered our scientists’ curiosity. Their container battery is especially interesting. The concept taps into several recent trends and developments, such as circular economy and electrification of marine vessels. We believe this technology may have an important role to play in a greener maritime industry for future...
According to the latest data shared by Shanghai Metals Market, the social inventories of primary aluminium have continued to grow, although slower than the previous week. Data shows the inventories have gained 20,000 tonnes across eight major Chinese consumption areas, including SHFE warrants, week-on-week ending on Thursday, January 14, compared to the surge of 51,000 tonnes in the previous week. Hence, the inventories today are standing at 684,000 tonnes against 664,000 tonnes on January 7, 2021. The chart below indicates the current status of primary aluminium inventories across China in more details: Primary aluminium inventories have gained the highest in Gongyi by 15,000 tonnes to stand at 66,000 tonnes, followed by an increase of 9,000 tonnes in Nanhai to 162,000 tonnes, according...
Aluminerie Alouette, one of the most efficient primary aluminium producers of the world, has stated in 2020 review statement that: "Aluminerie Alouette in 2020 broke its record of all time with an annual production of 620,706 tons of aluminium. It was a special year in many ways for the largest aluminium smelter in the Americas. Employees and partners have worked hard to exceed the 2016 performance in aluminium production.” The previous record, set in 2016, was 608,964 tonnes. The increase in production with the same facilities is linked to the good results of a large-scale project that began in 2019, namely the construction of a forced-air network to cool the AP40 technology tanks. This $ 100M modernization project, completed in November 2020, maximizes energy use. This was the Alouette...
Aluminium Stewardship Initiative has announced the joining of Yunnan Haoxin Aluminum Foil Co. Ltd. as a new Production & Transformation member, which brings the total number of ASI Members to 152. Yunnan Haoxin Aluminum Foil Co. Ltd. is committed to the production, development, and sales of aluminum plates, strips, and foil products. The company provides its products for food packaging, tobacco packaging, pharmaceutical packaging, and power capacitor areas in China and also overseas like Southeast Asia, South Asia, Europe, and America. It has a good reputation in the international market. Company’s Chairman Chendebin said, “In order to promote the company’s Green and sustainable development and win win cooperation with well known large aluminum enterprises and downstream users, the...
As per the World Bank’s Economic Update for the edition released in October’20, the Emerging and developing economies in the Europe and Central Asia region are on course to shrink by 4.45 in 2020 and considered as the worst recession since the global financial crisis of 2008. Georgia’s economy was projected to contract by 6% in 2020, before an uncertain and gradual recovery in 2021-2022. The Eurasian nation’s import of aluminium plates, sheets and strips during 2018-19 was recorded at 1359 tonnes and the expenditure remained at $5.03 million. The import for 2020 stood at 582 tonnes and the expenditures accounted for the import was $4.00 million. However, when the import and expenditure for 2020 get summed with the existing two years, it denotes 1941 tonnes and $9.03 million respectively....
Alumina powder production in Iran edged 1.8 per cent higher during the first nine months of the current Iranian calendar year (March 20-November 20, 2020), in comparison with the same period last year, found the Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO). Alumina powder output reached 175,300 tonnes during the nine months, while it was 172,100 tonnes in the corresponding period of the past year. Iran’s aluminium ingot production rose 5.12 per cent year-on-year during the nine months of the current calendar year. Output came in at 308,000 tonnes during the nine-month period as compared to 203,800 tons in the corresponding period of the previous year. By the year end (March 20, 2021), production of aluminium ingot in Iran is likely to grow by 63...
A00 aluminium ingot price has continued to fall for the fourth consecutive day by RMB 180 per tonne to stand at RMB 14,720 per tonne on Thursday, January 14, found the Shanghai Metals Market. The average prices are expected to range between RMB 14,700 per tonne and RMB 14,740 per tonne, with spot contract to be traded at a premium price of RMB 20-60 per tonne, up by RMB 40 per tonne on the previous day. In Gongyi, the primary aluminium ingot price has decreased by RMB 180 per tonne as well to come in at RMB 14,600 per tonne; while in Chongqing, the price has plunged by RMB 105 per tonne to RMB 14,725 per tonne. In Foshan and Tianjin, A00 aluminium ingot price has declined by RMB 100 per tonne to come in at RMB 14,720 per tonne and 14,770 per tonne, respectively. The price in Linyi and...
The LME complex ended mostly lower on Wednesday, January 13, with aluminium lost 0.62 per cent. Benchmark aluminium price on the London Metal Exchange edged 0.79 per cent lower on Wednesday. LME aluminium cash (bid) price and LME official settlement price decreased by US$ 16 per tonne from US$ 2025.50 per tonne to US$ 2009.50 per tonne on Wednesday, January 13. 3-months bid price and 3-months offer price stood at US$ 2008.50 per tonne, down by USS$ 16.50 per tonne from US$ 2025 per tonne. Dec 21 bid price and Dec 21 offer price declined to US$ 2076 per tonne from US$ 2099.50 per tonne. The LME aluminium opening stock decreased relatively slower from 1298075 tonnes to 1293300 tonnes. Live Warrants totalled 1189525 tonnes, while Cancelled Warrants 103775 tonnes. LME aluminium 3-months Asian...
TRIMET Aluminium SE, the aluminium product manufacturer has developed a new aluminium alloy for crash-relevant components. The wrought alloy trimal®-53 is worth for structural components with high strength and excellent deformation capacity. The aluminium specialist thus now delivers a material for which there is a growing need, especially in the vehicle manufacturing sector. The new TRIMET alloy meets every major carmaker’s need for light-metal materials to produce safety-related vehicle components. The new wrought alloy trimal®-53 (AlMgSi) achieves strengths of more than 270 megapascals, with an elongation of 10% and more, this new material also meets the high standards required of the compression behaviour. As such, trimal®-53 achieves higher component strength than conventional alloys...
On Wednesday, January 13, Rio Tinto announced that it entered a new agreement with Meridian Energy for electricity supply that would allow New Zealand’s Aluminium Smelter (NZAS) to continue operating at the Tiwai Point aluminium smelter. The agreement is valid till December 31, 2024, meaning a longer certainty to Tiwai employees, local community, and customers and more time for stakeholders to plan the future. The new agreement with Meridian Energy in relation to power prices is signed just when the New Zealand government was progressing to address the smelter’s high transmission costs. This agreement is expected to make the smelter economically viable and competitive over the next four years. Also, it would provide time for detailed closure studies, allowing stakeholders to undergo...
Johan Menckel, CEO and President of Gränges, have informed the Board that he has decided to step down from his position after 8 years. However, he will remain in his present role until 1 st August 2021. Gränges is the leading global supplier of rolled aluminium products for heat exchanger applications and other niche markets. It is said that every second car produced in the world today contains material manufactured by Gränges. Fredrik Arp, Chairman of the Board, Gränges AB, said: “After 18 years within Gränges, of which the last 8 years as CEO, Johan has chosen to take on another position. Johan is an appreciated leader who has made a powerful contribution to Gränges’ development into a strong position. We want to thank him for his good achievements and look forward to further...
Aluminium Bahrain Alba has announced its new Vision, Mission and Values at the inaugural session of Majlis 2021. The company’s new vision is – To be the number one aluminium supplier for the generations to come. Alba’s new Mission is - Being a responsible corporate citizen, create value for all its stakeholders and society; and Values - Safe & Green, Together, Ethics, Excellence and Resilience will set Alba in motion where Safety, People Development, Governance and Sustainability will be its linchpins. Chief Executive Officer Ali Al Baqali has announced the company’s Objectives for 2021 - Safety Excellence, Al Hassalah (new savings’ program), Forward Focus and Emerge Stronger. Al Baqali said: “We can’t change 2020 but we can learn from it to emerge stronger and get better as a Company and...
SPUR, a subsidiary of Hero Motors Company and a global bike components manufacturer, will build a world-class manufacturing unit of bike components at the upcoming Hero Industrial Park, aiming at securing a strong position in the global components market. The news came after SPUR announced it on Wednesday, January 13. To be managed by Hero Motors Limited, the manufacturing unit with a special focus on hi-end aluminium components is expected to become a strong components hub and grab a business of US$ 250 million by 2023. The project will expectedly ramp up SPUR’s production capacity by up to 300 per cent and turn India into a world-class exporter for aluminium bike components and parts. Mr Pankaj M Munjal, Chairman & Managing Director of Hero Motors Company, said: “The new venture is set...
According to the Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO), Iran’s aluminium ingot production stood 51.2 percent higher year-on-year during the first nine months of the current Iranian calendar year (March 20-December 20, 2020). Aluminium ingot output came in at 308,000 tonnes during the nine-month period as compared to 203,800 tons in the corresponding period of the previous year. Production of the aluminium ingot in Iran is likely to grow by 63 percent by the end of the current Iranian calendar year (March 20, 2021). The country’s major aluminium producers produced 275,716 tonnes of aluminium ingots in the past year ended on March 19, 2020, IMIDRO reported. The output fell by 8 percent in comparison to the same period of the previous year....
Vedanta Limited has raised its aluminium ingot and aluminium products prices with effect from Wednesday, January 13, just a day after reducing the prices by INR 1,500 per tonne. Vedanta is currently selling its aluminium ingot at INR 171,750-184,750 per tonnes, up by INR 1,250 per tonne or 0.73 per cent from INR 170,500-183,500 per tonne on January 12. With the latest hike, Vedanta’s aluminium wire rod price has come in at INR 179,250-186,750 per tonne in comparison with INR 178,000-185,500 per tonne on January 12. This registers an increase of INR 1,250 per tonne. Vedanta’s aluminium billet price is at INR 179,750 per tonne on January 13, standing INR 1,250 per tonne higher than INR 178,500 per tonne. Vedanta Limited links the prices of its aluminium products and aluminium ingot to the...
ElvalHalcor SA, the Greece-based aluminium producer has granted SMS group the final acceptance certificate for the new four-stand high-performance hot strip mill commissioned at the Oinofyta facilities near Athens. During the installation, aluminium strips were successfully rolled in thicknesses between 1.8 and 12 millimetres and widths of over 2.6 metres on the advanced technology mill. After a few weeks of commissioning, ElvalHalcor SA rolled some premium quality of 70 coils, which are suitable for a wide range of industrial applications on the new, highly flexible mill in one production shift. Despite the COVID-19 pandemic challenges, the specialists from ElvalHalcor and SMS group did an excellent job in completing the commissioning activities without interruption. With travel...
