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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The Spanish maritime firm Grup Aresa International is building four aluminium patrolling boats for the Nigerian Navy, whereas, as per the information the hulls already completed. The company said two months ago that the milestone of the hulls being accomplished and had been reached and construction was work-in-progress. The 2021 Nigerian budget appropriation bill refers: “Procurement of 4 x 17 m inshore patrol craft (Aresa boats)” is ongoing. Also listed as ongoing for the Nigerian Navy are the procurements of a 32-metre hydrographic survey vessel, the procurement of a landing ship tank, and the procurement of three AW109 helicopters. The hydrographic survey vessel appears to be a new design in addition to the 60 metres NNS Lana that was recently completed by French leader in Aluminium...
Hindalco Industries Limited has sharply reduced its aluminium ingot and aluminium products prices with effect from Friday, January 8, after hiking them in the past two consecutive days. With the latest cut, Hindalco’s aluminium ingot price has come in at INR 170,000 per tonne, a decrease of INR 4,500 per tonne or 2.58 per cent from INR 174,500 per tonne on January 7. Hindalco has reduced its aluminium wire rod price by INR 4,500 per tonne as well from INR 185,600 per tonne on January 7 to INR 181,100 per tonne on January 8. The company is selling its aluminium billets price at INR 177,100 per tonne with effect from January 8 in comparison with INR 181,600 per tonne on January 7. Hindalco Industries Limited links the prices of its aluminium ingot and aluminium products to the three-month...
Moscow’s new micro-museum of Russian Impressionists is a concrete building covered with perforated aluminium. Measures just over 1000 sqm, the museum is located at the site of a gigantic former chocolate factory in Moscow. McAslan Architects did not hesitate to construct the building entirely out of concrete, cast on site, and covered with anodised aluminium cladding. The construction has achieved the goal of creating an attraction for visitors, with four floors. Three floors are above ground and contain exhibition space for paintings, while the basement contains a cinema and other multimedia spaces. The decision to make a building covered with aluminium has turned out to be a success, standing out from its surroundings and evoking a sense of contemporary identity. The building looks...
PT HK Metals Utama Tbk, Indonesian-based holding company that engaged in the manufacturing and trading business of Aluminum Extrusion-based building and household materials said that in 2021, it will still focus on the company's superior product, namely aluminium extrusion. This is based on the market's potential for new property units and renovation activities. The company's extruded aluminium market share remains for building and construction materials such as high-rise and residential buildings with end products such as doors, windows and window frames, panels and other products. Yudhi Sudarmanto, HK Metals, Commercial Director, said: “As additional product support, the company will focus on products of sanitary building materials, PVC pipes, stainless pipes, and mild steel. However,...
According to the latest report from the US Geological Survey, US domestic primary aluminium production stood at 75,000 tonnes in October 2020. The average daily production was 2,430 tonnes, essentially unchanged from that in September 2020, 17% less than that in October 2019, and 10% less than that in October 2018. Total aluminium recovered from scrap was 277,000 tonnes in October 2020, slightly less than that in September 2020 and 3% less than that in October 2019. Of this, 150,000 tonnes of aluminium was recovered from new scrap and 127,000 tonnes was recovered from old scrap. In October, the average U.S. spot market price of primary aluminium ingot was $0.942 per pound, essentially unchanged from that in September 2020 and slightly less than that in October 2019. Inventories of primary...
The US Geological Survey found the United States aluminium scrap exports to India continued to rise in October 2020 as well. From 35,500 tonnes in September, the exports grew to 38,700 tonnes, an increase of 9 per cent month-on-month. On a year-on-year calculation, the exports in October soared by 90.64 per cent from 20,300 tonnes. The US aluminium scrap exports to India in September 2020 increased by 31.48 per cent month-on-month from 27,000 tonnes, while in August grew by 24.42 per cent from 21,700 tonnes in July 2020. In the entire ten months of 2020, the United States aluminium scrap exports to India totalled 246,000 tonnes, up by 13.36 per cent from 217,000 tonnes during the same period last year. The United States total aluminium scrap exports in October 2020 came in at 184,000...
iB2, the innovative technology developer, for the production of Alumina from low-grade bauxite will soon initiate feasibility studies for the construction of an alumina plant in China's Shanxi province, with Anne Lauvergeon as Chairman of the board. Yves Occello, CEO of the French company, has two founders of the company Alliance Minière Responsable (AMR), which is active in Guinea, on its board. The alumina experts are willing to commence the engineering work on its first alumina production unit in Shanxi province in northern China, as the company seeks to execute feasibility studies for about a year before construction. As per the iB2, if everything drives as planned, the alumina refinery could begin production in late 2022 or 2023. However, the unit will engage with Chinese industrials...
The Covid-19 pandemic has taken Indonesia into its first recession in 22 years, following a downfall of 5.32% in the Q2 of 2020. The last time this happened was during the Asian financial crisis in 1998. Indonesia’s export of aluminium stranded wires in 2018-19 stood at 2540 tonnes and the revenue generated for this export remained at $ 20.48 million. The export for 2020 was recorded at 2055 tonnes and the earnings accounted for $ 12.50 million. However, when the export volume and earnings for 2020 gets merged with the existing two years, it denotes 4595 tonnes and $ 32.98 million respectively. The South-eastern Asian and Oceania nation’s export of aluminium stranded wires in 2018 remained at 1456 tonnes and the earnings stood at 11.70 million, whereas, in 2019, the export saw de-growth...
PepsiCo recently announced that it will launch its new range “Cocoa” Cola in cans. The new range is a mixture of original Pepsi cola and hot chocolate, the newest concept from the Pepsi Test Kitchen. The company will launch canned Cocoa” Cola in 2021. Todd Kaplan, vice president of marketing at Pepsi said, “There is nothing more classic than hot cocoa on a winter day, but this year has been anything but typical.” “So why not bring together the delicious taste of a Pepsi with the delicious, wintery taste of chocolate and marshmallow and bring some unexpected joy to our fans this season? We are confident we nailed Pepsi “Cocoa” Cola and can’t wait to get this in the hands of cola fans this winter.” The company initially made the announcement on twitter. "What’s sweeter than saying 'bye' to...
Vedanta Limited has decreased its aluminium ingot and aluminium products prices with effect from Friday, January 8, following the three consecutive days of hike. The company’s aluminium ingot price is now hovering at INR 169,750-182,750 per tonne, down by INR 4,500 per tonne from INR 174,250-187,250 per tonne on January 7. Vedanta has cut its aluminium wire rod price by INR 4,500 per tonne as well from INR 181,750-189,250 on January 7 to INR 177,250-184,750 per tonne on January 8. Vedanta’s aluminium billet price has come in at INR 177,750 per tonne, sliding by INR 4,500 per tonne from 182,250 per tonne. Vedanta links the prices of its products to the three-month futures of aluminium on the London Metal Exchange, which on Thursday, January 7, fell sharply by US$ 54.50 per tonne from US$...
The energy and innovation clumping ground of the 18th and 19th century which developed the UK’s industrial economy was the Black Country region in Birmingham. Now, going forward in the 21st century there is a need to create a business model that’s more economically and environmentally sustainable. In support with WMG-University of Warwick, the Black Country LEP have developed a future business model for Aluminium industry in the Black Country, stationed on the provision of low carbon energy sources, as part of a project Repowering the Black Country, which intends to make the Black Country the world’s first zero-carbon industrial cluster. The vision of the project is to enable clean GVA growth of £16 billion by 2030, creating or safeguarding at least 20,000 skilled jobs while appreciating...
On Thursday, January 7, a commercial court in France gave a green signal to Guinean logistics specialist United Mining Supply (UMS) to take over Alteo, a global leader in specialty alumina. The former was the last remaining bidder to take charge of Alteo’s production site near the southern city of Marseille. Alteo entered bankruptcy due to falling orders against the backdrop of global crisis in the aluminium industry. According to the court, United Mining Supply’s financial aid to Alteo as its new shareholder would help the plant free up enough cashflow to continue operations. UMS, owned by French-Lebanese-Guinean businessman Fadi Wazni, will help Alteo clear a part of debt and phase out the import of bauxite within 12 to 18 months. Alteo primarily imports bauxite from Guinea. Alteo was...
China's A00 aluminium ingot price has jumped by RMB 170 per tonne on Friday, January 8, to close the week at RMB 15,710 per tonne, found the Shanghai Metals Market. The average prices are expected to range between RMB 15,690 per tonne and RMB 15,730 per tonne, with spot contract to be traded at a premium price of RMB 20-60 per tonne, down by RMB 40 per tonne from the previous day. In Hangzhou, A00 aluminium ingot price has surged by RMB 155 per tonne to stand at RMB 15,720 per tonne. In Gongyi and Wuxi, the price has increased by RMB 140 per tonne to come in at RMB 15,590 per tonne and 15,700 per tonne, respectively. Primary aluminium ingot price in Chongqing and Shenyang is standing at RMB 15,690 per tonne growing by RMB 140 per tonne as well. The price in Foshan, Linyi, and Tianjin has...
Benchmark aluminium price on London Metal Exchange declined by 2.64 per cent to come in at US$ 2008 per tonne on Thursday, 7 January 2021, from US$ 2062.5 per tonne on 6 January 2021. As of Thursday January 7, LME aluminium cash (bid) price stands at US$ 2008 per tonne, LME official settlement price stands at US$ 2008 per tonne; 3-months bid price stands at US$ 2020.50 per tonne, 3-months offer price is US$ 2020.50 per tonne; Dec 21 bid price stands at US$ 2078 per tonne, and Dec 21 offer price stands at US$ 2078 per tonne. The LME aluminium opening stock stood at 1313100 tonnes. Live Warrants totalled 1186250 tonnes, and Cancelled Warrants were 126850 tonnes. LME aluminium 3-months Asian Reference Price is hovering at US$ 2041.76 per tonne. SHFE Aluminium Price Trend Benchmark aluminium...
Ball Corporation has decided to construct a new aluminium end manufacturing facility in Bowling Green, Kentucky. The production is scheduled to start in early-2022, creating approximately 200 manufacturing jobs. The company will expand the facility over multiple years through the installation of additional end modules. The aluminium plant will supply infinitely recyclable, lightweight aluminium ends for growing beverage categories and brands. "Our new Bowling Green, Kentucky, facility will provide aluminum end supply to Ball's expanding North American network of beverage can manufacturing plants," said Colin Gillis, president, beverage packaging, North & Central America. "Bowling Green will join our industry-leading network of more than 20 North American plants, including two new beverage...
The Aluminium Association of Canada (AAC) announced that primary aluminium sector will continue operations in a safe manner. AAC, representing more than 7,500 jobs in the regions of Quebec, applauds the Legault government's decision on this. Jean Simard, president and CEO of the AAC said: "It is with a heightened sense of responsibilities incumbent on us as employers and leading regional players, as well as with great satisfaction, that the primary aluminium industry welcomes the new measures announced by the Government of Quebec regarding the lockdown for the next 4 weeks.” "We assure the Government of Quebec, our communities and our employees, as well as their families, of our full commitment to maintain safe operations that respect the highest standards of health and safety in the...
On Thursday, January 7, Pralhad Joshi, Union Minister of Coal & Mines and Parliamentary Affairs, affirmed that National Aluminium Company Ltd (NALCO) would invest INR 30,000 crore for expansion and diversification in the next six to seven years. Joshi, while addressing the 41st Foundation Day event of NALCO in Bhubaneswar, also said that the company’s expansion plan would have a multiplier effect on the mining and mineral sector, helping achieve the vision of Atmanirbhar Bharat. Joshi added that some of NALCO’s expansion and diversification plans could come in the form of joint ventures. Plans are on board to announce some greenfield projects, for which consultations are on with the State government, said Joshi. The Minister also said that NALCO almost tripled its production in FY21 and...
As updated by Shanghai Metals Market, social inventories of primary aluminium across eight consumption areas in China, including SHFE warrants, continued to rise by 51,000 tonnes from last week to stand at 664,000 tonnes as of Thursday, 07 January 2021. The increase was due to higher arrivals of imported primary aluminium ingots. The chart below shows the current status of the primary aluminium inventories across China in more details: Primary aluminium stocks in Wuxi and Nanhai have come in at 249,000 tonnes and 153,000 tonnes on Thursday, 07 January 2021, an increase of 26,000 tonnes and 24,000 tonnes from prior week. Inventories in Chongqing and Linyi remained unchanged at 2,000 tonnes and 4,000 tonnes. Inventories of aluminium in Gongyi and Tianjin have risen by 6,000 tonnes and 1,000...
