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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In December 2020, molten aluminium accounted for 66.6 per cent of China’s total aluminium production, found the Shanghai Metals Market. That was down by 1.17 percentage points from the previous month, owing to the increased proportion of ingot output at smelters in north China. The decline was most prominent in Henan, Inner Mongolia, and Ningxia. In Henan Province, Henan Zhongfu and Dengdian Group did not produce aluminium ingot due to strict environmental inspections, while in the three other smelters like Henan Wanji, Jiaozuo Wanfang, and Yugang Longquan, the proportion of ingot increased from November. Some smelters in Inner Mongolia also did not shy away from increasing aluminium ingot output due to weaker demand for molten aluminium from nearby regions. In south-west China, on the...
The Egypt Aluminium Company, Egyptalum has disclosed that six European and Chinese companies have submitted bids towards the tender for a car wheel rims production line. Egyptalum publicized on 21 st December’20 for the opening of the submissions window on an international tender for the production of car wheel rims, with the session to reveal envelope contents held on 10 th January 2021. The later annual business results for the company demonstrated its transition to losses during the fiscal year 2019/20, as the company incurred a net loss of EGP 1.63 billion for the year ending June 2020. This was compared to a profit of EGP 570.9 million during the previous fiscal year. The company’s revenues dropped sharply to EGP 7.25bn during FY 2019/20, compared to EGP 12.1billion during the...
Hindalco Industries Limited has raised its aluminium products price by INR 2,250 per tonne on Saturday. With effect from 09 January 2021, wire rods price stands at INR 183,350 per tonne, an increase of 1.24% from INR 181,100 tonne on January 8. Aluminium billets price has hiked to stand at INR 179,350 per tonne on January 9. This is up INR 2,250 per tonne from INR 177,100 per tonne on January 8. Hindalco is now selling its aluminium ingots price at INR 172,250 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 US arm...
AGB2A, a Guinea based company, which produces one of the best metallurgical grade bauxite for alumina refinery by dry beneficiation process involving crushing and screening of ore. Now the Sino- Guinean consortium is in the eyes of the Guinean justice which ordered, on January 4, 2021, towards the seizure of its operations and cargo. Sékouba Condé, dean of the examining magistrates of the Kaloum Court, in the First Instance struck his hammer hard on the Guinean Alliance (AGB2A ), a Sino-Guinean consortium by ordering the seizure conservatory of the cargo of the vessel Prosper Sunwaito, located at the quay of the port of Boffa and all other quantities of bauxite from the exploitation of the mines of its companies Axis and GBD. The request for protective measures was formulated by the law...
Bharat Heavy Electricals Limited (BHEL) has been awarded INR 450 Crore order from National Aluminium Company Limited (NALCO). The contract covers design, engineering, manufacturing, supply, erection, testing and commissioning of 1x300 TPH Coal Fired Boiler, 18.5 MW Steam Turbine Generator and associated auxiliaries, including FGD and SCR. The new order has been given to BHEL for NALCO’s 5th Stream Alumina Refinery Expansion Project at Damanjodi, Odisha. BHEL supplies all of NALCO’s power plants, for both their Smelter plant (10x120 MW) at Angul and Alumina Refinery plant (5x18.5 MW) at Damanjodi.The company also contributes to the Govt. of India’s ‘Make in India’ initiative. India’s BHEL provides customised solutions for industry specific steam and power requirements to all major...
Vedanta Limited increased its aluminium products and aluminium ingot prices with effect from Saturday, January 9, following an intermittent cut on Friday, January 8. That marked the fifth consecutive day since Tuesday, January 5, that Vedanta revised its aluminium products and ingot prices. With the latest hike, Vedanta's aluminium wire rod price has come in at INR 179,500-187,000 per tonne, up by INR 2,250 per tonne from INR 177,250-184,750per tonne on January 8. Vedanta raised its aluminium billets price by INR 2,250 per tonne as well from INR 177,750 per tonne to INR 180,000 per tonne, with effect from Saturday, January 9. Vedanta is selling its aluminium ingot at INR 172,000-185,000 per tonne since Saturday in comparison with INR 169,750-182,750 per tonne on Friday. Vedanta Limited...
Hong Leong Investment Bank (HLIB) Research expects Press Metal Aluminium Holdings Bhd to report significant growth in profit due to higher aluminium prices and the commissioning of Samalaju Phase 3. HLIB Research has also started coverage of the company at RM8.40 with a buy call and target price (TP) of RM10, reported theedgemarkets.com. HLIB Research analyst Low Jin Wu expects the company’s earnings to stand at RM441.3 million for the financial year ended Dec 31, 2020 (FY20) despite Covid-19 pandemic. “We expect FY21 and FY22 earnings to come in significantly stronger at RM755.7 million and RM999.9 million respectively due to higher aluminium prices and demand from the recovering global economic outlook and lower net carbon initiatives,” he said. Average aluminium prices are likely to...
Tajikistan’s economy has had a tough impact due to the COVID-19 pandemic, as in other parts of the world and is amplifying health and social pressures, as reported by World Bank experts. Growth slowed to 4.2% in the first nine months of 2020, compared to 7.2% a year earlier. Bakhrom Ziyaev, World Bank Economist, said: “Restrictions on labour mobility and economic activity at home and abroad have resulted in lower migrant remittances, weaker consumer demand, and reduced investments.” The Central Asian nation’s import of aluminium bar rods and profiles during 2018-19 stood at 595 tonnes and the expenditures remained at $ 2.71 million. The import for 2020 was recorded at 270 tonnes, with expenditure for the import stood at $ 0.87 million. However, when the import and expenditure for 2020 get...
According to the latest data shared by Shanghai Metals Market, China’s metallurgical-grade alumina production in the entire year of 2020 came in at 67.29 million tonnes, down by 2.02 per cent on a year-on-year basis. In December, alumina output, including 5.75 million tonnes of metallurgical-grade alumina, stood at 5.96 million tonnes. That was 0.66 per cent lower than 6 million tonnes of production in November 2020, but up by 1.53 per cent from 5.87 million tonnes in December 2019. Roasting capacity at some alumina refineries in Shandong, Henan, and Shanxi was restricted, leading to the month-on-month decline in alumina output in December. The daily alumina output in December 2020 stood down by 4.04 per cent month-on-month but up 2.26 per cent year-on-year to 185,500 tonnes. As of early...
According to recent data showed by Shanghai Metals Market, primary aluminium production in China increased 8 per cent year-on-year in December. Total output came in at 3.28 million tonnes last month. The daily average output stood at 105,800 tonnes in December, marking a growth of 300 tonnes month-on-month due to higher production in Yunnan Shenhuo and Inner Mongolia Chuangyuan. The operating capacity of primary aluminium was 39.24 million tonnes among 44.2 million tonnes per year of existing aluminium capacity as of early January. The operating rates across Chinese producers came in at 90.8 per cent. In 2020, primary aluminium production in the country climbed 4.8 per cent year on year to 37.12 million tonnes, while consumption increased 5.77 per cent to 38.19 million tonnes. Shanghai...
Pernod Ricard-owned Beefeater London Dry gin has displayed a more sustainable packaging design that will entitle the brand to save 410 tonnes of plastic every year. The new bottle is manufactured entirely from recyclable glass; however, the shape was inspired by London bricks. Keeping in mind the bartenders and to make pouring of the gin easier, the bottle was designed. The embossed, aluminium cap replaces the previous plastic cap and the label has been changed from PVC to paper. Murielle Dessenis, Global Brand Director, Beefeater, said: “Whilst our packaging has evolved our award-winning gin remains the same, with every drop distilled in the heart of London. The design of the bottle, from its shape to its label, paints a picture of what the liquid inside will taste like.” “The brand is...
India’s largest aluminium extrusion company with a legacy spanning 50 years, Jindal Aluminium Ltd. has not observed any aftermath on its exports and predicts the international demand to rise with the emerging markets, commented by Managing Director, Pragun Jindal Khaitan. Mr Khaitan acclaimed that the growth of exports would require the Indian aluminium product manufacturers are given a competitive playing field with the international organizations. Jindal Aluminium generally exports 15%-20% of its products. “We did not experience any rise or drop in export, with 15% to 20% of the total output dispersed as per demand, thus keeping the cycle constant,” Mr Pragun said. However, he pointed out that since the US has imposed a 48% anti-dumping duty on aluminium sheets and coils from India, the...
Prebaked anode price in Southwest China market has edged higher by RMB 65 per tonne after remaining unchanged since December 4. The price stands at RMB 3772.5 per tonne today from previous price of RMB 3707.5 per tonne. It is likely to range at RMB 3625-3920 per tonne. Average prebaked anode prices in Northwest China market has increased by RMB 90 per tonne to stand at RMB 3915 per tonne on Monday, 11 January. Prebaked anode prices in East China and Central China have remained unchanged at RMB RMB3545 per tonne and RMB3645 per tonne respectively. SMM aluminium ingot price has witnessed a drop today after rising it by RMB 170 per tonne on Friday. The ingot price has reduced by RMB 310 per tonne to RMB 15400 per tonne on Monday, 11 January 2021.The average price is expected to range between...
Benchmark aluminium price on the London Metal Exchange rose 1.07 per cent to come in at US$ 2029.50 per tonne on Friday, January 8, 2021. As of Friday, January 8, LME aluminium cash (bid) price and LME official settlement price surged by US$ 21.50 per tonne from US$ 2008 per tonne to US$ 2029.50 per tonne. 3-months bid price and 3-months offer price increased from US$ 2020.50 per tonne to US$ 2032 per tonne. Dec 21 bid price and Dec 21 offer price stood at US$ 2099.50 per tonne, up by US$ 21.50 per tonne. The LME aluminium opening stock decreased from 1313100 tonnes to 1309100 tonnes. Live Warrants totalled 1185150 tonnes, and Cancelled Warrants were 123950 tonnes. LME aluminium 3-months Asian Reference Price hovered at US$ 2023 per tonne. SHFE Aluminium Price Trend Benchmark aluminium...
AMV Solutions, GHI SMART FURNACES and GECSA take a step forward to bring 4.0 technology closer to foundries, creating an innovative product that fully manages the melting and alloying process in steelworks, aluminium recycling plants as well as in casting plants for the iron and other metals. The alliance of these three firms, with extensive experience in the 4.0 industry and the metal sector, results in a new digital platform for the foundry industry. The Beyond Alea platform applies Machine Learning and Artificial Intelligence techniques to achieve a Digital Twin of any melting plant. Monitoring and process control Beyond Alea is a modular platform that covers the entire production cycle of any type of foundry. The platform covers and monitors the entire process, from the raw materials...
Since 1970’s the manufacturing process of Aluminium alloy wheels have developed a lot and due to sophisticated wheels design, casting has become the dominant manufacturing process. On the due course of time, it has been identified that vehicles with aluminium wheels have better stopping and starting capabilities, which resulted in serious consideration in cars performance. Aluminium wheels exert less inertia when they spin that denotes, in addition to being easier to bring to a stop, they will also impose less wear and tear on the vehicle braking system. According to the history of aluminium car wheels, the first light-alloy sheet aluminium car wheels were used in Daimler-Benz and Auto-Union racing cars in the 1930s. In the 1960s, Porsche began the batch production of sheet wheels, which...
The Bauxite Company of Guyana Inc. (BCGI), a subsidiary of RUSAL, as reported is remaining on the discussions stage with the government, following the five months negotiations on a possible restart of operations at its Kurubuka mines in Region 10. Parmanand Persaud, the spokesperson for the Ministry of Natural Resources, said: “BGCI directors are still in discussion with the ministry and there is no indication as to where the talks are heading.” Joseph L.F. Hamilton, Minister of Labour copied the same words as the Ministry of Natural Resources. However, the Minister added: “The Ministry of Natural Resources is handling the talks for the possible restart and his Ministry will step in when operations resume and discuss outstanding labour matters.”
India’s largest producer of Aluminium and value-added products, Vedanta Aluminium secured the ‘Most Innovative Best Practice’ Award at the Digital Transformation (DX) Summit & Awards 2020. The event organized by CII – Centre for Digital Transformation (CDT), the DX Award delivers a prestigious platform for the industry’s best to showcase superlative efforts and achievements in the realm of digital transformation, offering unparalleled exposure and valuable recognition to the practitioners. Anil Agarwal's Vedanta Aluminium has bagged this prestigious award in the ‘Most Innovative Best Practice’ category, as India’s first – and the world’s third – smelter to deploy the Digital Smelter Technology at its Jharsuguda plant, which is the world’s largest single-location aluminium smelter. The DX...
