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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Vedanta has risen its aluminium products price for the third time in a row. With effect from Thursday, 07 January 2021, the prices of some aluminium ingots are in the range of INR 174,250-187,250 per tonne, representing a growth of INR 3,000 per tonne from INR 171,250-184,250 per tonne on January 06. Billet price has increased by INR 3,000 per tonne to stand at INR 182,250 per tonne as of Thursday, 07January 2021, from INR 179,250 per tonne on January 06. 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. Vedanta’s aluminium business typically accounts for one-third of the company’s...
According to the Shanghai Metals Market, 6063 aluminium billet inventories have gained 14,900 tonnes across China's five consumption areas on Thursday, January 7. Data shows the stocks have come in at 85,700 tonnes from 70,900 tonnes on November 31. Last Thursday, the inventories dropped by 1,500 tonnes week-on-week. The chart below indicates the current status of aluminium billet inventories across China in more details: In Foshan, aluminium billet inventories have built-up 9,100 tonnes to stand at 41,600 tonnes, followed by an increase of 3,200 tonnes in Nanchang to 10,000 tonnes. In Changzhou and Huzhou, aluminium billet stocks have grown by 1,600 tonnes and 1,000 tonnes, respectively, to come in at 10,000 tonnes and 13,000 tonnes. In Wuxi, however, the inventories have remained...
Germany’s exports of aluminium semi-finished products (plates, sheets, bars, etc.) to the US stood at 50,000 tonnes in the first nine months of 2020, with a year-on-year decrease of 39.4% or 32,600 tonnes, according to the latest Mineral Industry Survey report from the US Geological Survey. Germany had exported 82,600 tonnes to the US in January-September 2019. In September, exports of semi-finished to the US stood 38% lower from the same period a year earlier. Exports stood at 4,900 tonnes in September 2020 as compared to 7,850 tonnes in September 2019. On a month-on-month basis, aluminium semi-finished exports reduced by 8.4% from August’s export volume of 5,350 tonnes. Germany exported 52,100 tonnes of total aluminium including scrap to the US in the first nine months of 2020, from...
Alcomet AD, the only one of a kind manufacturer of rolled and extruded aluminium products in Bulgaria, has begun the operation at its upgraded production line for producing powder-coated aluminium profiles. The company has invested 1.4 million levs, equivalent to $883,200, for modernising the production line, which has now the capacity to produce 600 tonnes of powder-coated aluminium profiles every month. The capacity is now increased by three times compared to the output before the upgrade, said Alcomet in a bourse filing on Tuesday. In December, Alcomet started operations at its new rolling mill, which increased the company’s production capacity by 85,000 tonnes per year in the medium term, as per the statement by Alcomet in a stock exchange filing. According to Alcomet’s latest...
As updated by Shanghai Metals Market, average spot alumina price in China has increased by RMB 2 per tonne on Thursday, 07 January 2021 to come in at RMB 2340 per tonne, after remaining flat at 2338 per tonne since December 29. Alumina price in Shanxi has risen by RMB 5 per tonne to stand at RMB 2355 per tonne. The prices of alumina in Shandong, Henan, Guizhou and Guangxi China markets have remained unchanged at RMB 2340 per tonne, RMB 2350 per tonne, RMB 2285 per tonne and RMB 2285 per tonne on Thursday, 07 January 2021. Alumina (Imported) price has climbed to RMB 2460 per tonne, representing an increase of RMB 5 per tonne. The average price is expected to move within a range of RMB 2450-2470 per tonne. SMM aluminium ingot price stands lower at RMB 15540 per tonne on Thursday, 07 January...
Hindalco Industries Limited has back-to-back increased the prices of its aluminium ingot and aluminium products, with effect from Thursday, January 7. After increasing the price of aluminium wire rod by INR 2750 per tonne or 1.53 per cent on January 6, Hindalco Industries on the very next day has further expanded the price by INR 3000 per tonne or 1.64 per cent to INR 185,600 per tonne. Hindalco’s aluminium billets price has also been raised by INR 3000 per tonne on January 7, and so the price of aluminium ingot. The company’s aluminium billets price is now standing at INR 181,600 per tonne compared with INR 178,600 per tonne on January 6. The price of aluminium ingot has come in at INR 174,500 per tonne from INR 171,500 per tonne on a day ago. Hindalco Industries Limited links the prices...
Datwyler has signed new contract to extend its current partnership with Nespresso. The agreement includes capsules and seals production for portioned coffee product lines. The new contract is valid until 2030. Datwyler invests in the manufacturing capacity expansion and strengthens its the highly automated plant in Schattdorf in the Swiss canton of Uri. “By investing in and adapting our production processes, we are able to support Nespresso in putting to market capsules made using 80% recycled aluminium and hence contribute to their commitment to make every cup of coffee carbon neutral by 2022. Carbon neutral production at Datwyler's Swiss site also contributes to this,” said Dirk Lambrecht, Group CEO. The partnership was formed in 2006 between Datwyler and Nespresso By combining its core...
Benchmark aluminium price on the London Metal Exchange closed the day on Wednesday, January 6, 1.73 per cent higher at US$ 2062.50 per tonne. LME aluminium cash (bid) price and LME official settlement price soared by US$ 32 per tonne on Wednesday, January 6, to stand at US$ 2062.50 per tonne from US$ 2027.50 per tonne on January 5. 3-months bid price and 3-months offer price stood at US$ 2068 per tonne, up by US$ 35.50 per tonne from US$ 2032.50 per tonne. Dec 21 bid price and Dec 21 offer price increased from US$ 2094 per tonne to US$ 2119 per tonne on January 6, 2021. The LME aluminium opening stock continued to decrease from 1324500 tonnes to 1319075 tonnes. Live Warrants totalled 1187450 tonnes, while Cancelled Warrants at 131625 tonnes. LME aluminium 3-months Asian Reference Price...
Anheuser-Busch InBev has decided to sell 49.9% stake in its US-based metal container plants for approximately USD 3 billion to Apollo-led Consortium. The Consortium includes entities advised by Apollo and its subsidiaries and a group of institutional investors. AB InBev will create additional shareholder value by “optimizing its business at an attractive price and generate proceeds to repay debt, in line with its deleveraging commitments,” according to Apollo Global Management. “Executing an institutional investment of this nature showcases Apollo’s unique ability to cut through complexity and use the strength of our platform to provide world-class companies with scaled, strategic solutions,” said Robert V. Seminara, Senior Partner and Head of Europe at Apollo. “We are pleased to invest...
National Aluminium Company Limited (NALCO) has raised the prices of its aluminium ingot and aluminium products with effect from Wednesday, January 6, after reducing them for the two consecutive times. NALCO’s aluminium ingot price has come in at INR 171,550-175,050 per tonne, recording a significant increase of INR 4,100 per tonne from INR 167,450-170,950 per tonne on January 1. NALCO’s aluminium wire rod price has been increased by INR 4,100 per tonne from INR 170,950-175,300 per tonne on January 1 to INR 176,150-179,400 per tonne on January 6, 2021. Since the latest hike, NALCO’s aluminium billets price is standing at INR 175,000-177650 per tonne against INR 170,900-173550 per tonne on January 1. NALCO, like any other Indian aluminium producers, links its aluminium ingot and aluminium...
Aluminium Bahrain B.S.C. (Alba) closes 2020 by exceeding its production target of 1,540,000 tonnes per annum to top a breakthrough record of 1,548,500 metric tonnes, the highest-ever achieved in 50-years of commercial operations, a rise by 13% Y-o-Y versus 1,365,005 tonnes in 2019. Ali Al Baqali, Alba’s Chief Executive Officer, commenting on this production-record, said: "2020 was a year like no other with world-shifting challenges. But for Alba and despite all odds, we have raised the bar and finished 2020 strong by achieving the highest-ever record in our operational performance." "This achievement was only made possible thanks to our dedicated workforce, employees and contractors' employees who rose to such challenges while remaining fully committed to our motto of 'Safety First,...
On 1 st January 2021, the Winning Consortium Railway Guinea (WCRG) concluded, the work relating to the assembly of the main structure of the two large stacker-reclaimers of the railway line from Dapilon (Boké) to Santou (Télimélé) in the administrative region of Boké across the locations of the giant mining investors. The assembly process was finalized 15 days before the contractual deadline for the work. This indicates a good start to the construction work of the Dapilon-Santou railway in 2021. According to professionals, “These two stacker-reclaimers were designed and manufactured by the Chinese group Dalian Huarui Heavy Industry (Group for the railroad) Dapilon-Santou in the Republic of Guinea.” However, each reclaimer weighs 1,200 tonnes and stands 30 meters in height. Since the...
On Tuesday, January 5, Maharashtra Metro Rail Corporation’s managing director Brijesh Dixit announced that aluminium coaches for Pune’s Metro trains would likely arrive in the city in May 2021 from Italy. Dixit said, “Pune Metro had given the purchase order for 102 aluminium bodied coaches. The Italian company Titagarh Firema, a wholly-owned Italian subsidiary of Titagarh Wagons, is providing these coaches.” Maha Metro’s public relations officer (PRO) Hemant Sonawane also confirmed the expected arrival of coaches in May 2021, adding that it might get delayed a little due to the current COVID-19 situation in Europe. The Pune Metro started the trial runs on its corridors using coaches belong to the Nagpur metro. Titagarh Firema is manufacturing 25 per cent of coaches at their plant in...
Vedanta has increased its aluminium products price for the second time in a row. With effect from Wednesday, 06 January 2021, the prices of some aluminium ingots are in the range of INR 171,250-184,250 per tonne. This marks an increase of INR 1,250 per tonne from INR 170,000-183,000 per tonne on January 05. Billet price has climbed by INR 1,250 per tonne to stand at INR 179,250 per tonne as of Wednesday, 06 January 2021. The price was INR 178,000 per tonne on January 05. 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. Vedanta’s aluminium business typically accounts for one-third of the company’s consolidated sales. Vedanta has a stake in...
The Bulgarian National Bank, which is the central bank of the country, has said in December’20 that economy is expected to pursue its recovery on a quarterly comparison basis in the last quarter of 2020 and the first quarter of 2021, on condition that anti-coronavirus restrictions do not tighten further. The Balkan nation’s export of aluminium structures during 2018-19 stood at 4436 tonnes and the revenue generated from the export volume remained at $33.08 million. The export for 2020 stood at 3814 tonnes and the earnings accounted for $26.30 million. However, when the export volume and expenditure for 2020 get footed with the existing two years, it resembles 8250 tonnes and $59.38 million respectively. Bulgaria’s export for 2018 was recorded at 1796 tonnes and the earnings remained to...
Hindalco Industries Limited has risen its aluminium products price INR 2,750 per tonne. With effect from Wednesday, 06 January 2021, the company’s wire rods price stands at INR 182,600 per tonne, from INR 179,850 tonne on December 30. Aluminium billets price has hiked to stand at INR 178,600 per tonne on January 6, representing a growth of 1.56 per cent from INR 175,850 per tonne on December 30. Hindalco aluminium ingots price stands at INR 171,500 per tonne as of Wednesday as compared to INR 168,750 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 prices on LME have been rising since October. Aluminium operations of the company, excluding those of its US arm Novelis Inc,...
The United States aluminium crude metal and alloys imports from Qatar stood at 5,310 tonnes in September 2020, recording an increase of 2,160 tonnes or 51.28 per cent after two consecutive months of decline. In August, the United States imported 3,150 tonnes of aluminium semis from Qatar, 400 tonnes lower than 3,550 tonnes in July 2020. The imports in July stood down by 670 tonnes or 15.88 per cent month-on-month from 4,220 tonnes. In the third quarter of 2020 ended on September 30, the US aluminium crude metal and alloys imports from Qatar totalled 12,010 tonnes, down by 30.42 per cent from 17,260 tonnes in Q2 2020. On a year-on-year calculation, the United States aluminium semis imports from Qatar in September 2020 stood 43.51 per cent lower than 9,400 tonnes. In the first nine months...
Sacheta Metals Limited, one of the leading producers of aluminium utensils in India, has received sales order of approximately INR 15 Million (3*40" containers approx.). The company has secured order from Republic of Mozambique for the supply of aluminium utensils. “This sales order is repeatable at every 3 months hopefully,” the company said on Tuesday, 05 January 2021. Sacheta Metals manufactures aluminium products in various sizes and designs. The company’s products include Aluminium, Utensils - Castings - Sheets - Circles, Non Stick Cookware - Pressure Cookers, Slug, Foil, Coil, Foil stock, PP sheets, Coil for PP and other Houseware and also Stainless Steel Kitchenware. Sacheta Metals trade closed at INR18.12 on the BSE. That was up by INR3.02 from its previous closing of INR15.10....
