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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ElvalHalcor, the leading global industrial producer of aluminium and copper products headquartered in Greece, received 1st place in the 'Globalization' award category and the 2nd award ''Best International Activities Company' at the 'Business Awards Hrima 2020'. 'Business Awards Hrima' is recognized by the business and investment community as a renowned institution of annual evaluation for the listed companies on the Athens Stock Exchange. It has been for the 18th consecutive year, the investment community, readers of the financial-investment ''Hrima'' magazine, as well as visitors of the business-financial portal, banks.com.gr, highlighted and rewarded companies that contribute effectively to the growth of the national economy, employment and the Greek capital market. ElvalHalcor ranks...
According to Shanghai Metals Market, stocks of 6063 aluminium billet across five major consumption areas in China declined by 1,500 tonnes on lower arrivals at warehouses. The inventories came in at 70,900 tonnes as of Thursday, 31 December 2020. The chart below indicates the current status of aluminium billet inventories across China in more details: Inventories of aluminium billets in Wuxi reduced the most by 3,000 tonnes, standing at 11,100 tonnes as of Thursday, 31 December 2020. The stocks in Foshan and Nanchang by 400 tonnes and 500 tonnes to 32,500 tonnes and 6,900 tonnes, from 32,900 tonnes and 7,400 tonnes on December 24. But the Aluminium billets inventories in Changzhou and Huzhou registered a hike today. The stock stood at 8,400 tonnes and 12,000 tonnes. That was up 400 tonnes...
On 30 th December’20, the Ministry of Commerce and Industry said import monitoring system is being developed for multiple sectors and it also includes aluminium among others. The import monitoring system would support to accumulate advanced information on imports of the listed products and make it accessible to the stakeholders, comprising government and domestic industries. However, the system is already in place for steel and coal. While enlisting remarkable highlights of Department of Commerce for 2020, the ministry said: "Import monitoring system (IMS) is being developed for aluminium, copper, footwear, furniture, paper, sports goods, gym equipment etc.” It has been reported that about a 1.3 lakh Certificate of Origin has been issued through an electronic platform, for trade...
The Central Bank of Mexico (Banxico) surprised most investors in its last monetary policy meeting, which was held on 12 th November’20, by holding the policy rate steady at 4.25%. The pause did not signal the end of the easing cycle, which has accumulated 400bp in rate cuts. But, as per ING Financial Services, the pause suggested that some months would be needed for policymakers to reassess the economic outlook before adjusting the policy rate once again if needed. The LATAM nation’s import of aluminium tubes or pipes fittings during 2018-19 records at 17,095 tonnes and the expenditure stood at $243.97 million. The import for 2020 remains at 6172 tonnes and the expenditure stands at $156.30. However, when the import volume and expenditure for 2020 gets summed with the preceding two years,...
According to the US Geological Survey, the United States aluminium scrap exports to Canada stood 4.94 per cent lower month-on-month to 6,740 tonnes in September 2020. In August, the US exported 7,090 tonnes of scrap to Canada compared with 5,540 tonnes in July 2020. This represents a hike of 28 per cent month-on-month in August 2020. On a Year-on-year basis, the US aluminium scrap exports to Canada in September 2020 stood down by 15.86 per cent from 8,010 tonnes. In the third quarter of 2020 (July-September), the United States aluminium scrap exports to Canada came in at 19,370 tonnes, up 63.74 per cent quarter-on-quarter from 11,830 tonnes. During January-September, the United States aluminium scrap exports to Canada amounted to 52,700 tonnes, down by 25.25 per cent from 70,500 tonnes...
Matalco has started production at its aluminium plant in Wisconsin Rapids. The facility, which began operations on November 19, has already shipped over 3 million pounds of products, reported Wisconsin Rapids Tribune. Matalco announced in January 2019 that it would invest US$80 million to construct a manufacturing facility for secondary aluminium billet. The company would employ 80 permanent, full-time workers in the 110,000 square feet plant with a capacity to produce 240 million pounds of aluminium billet. The company is an independent company engaged in remelting of aluminium and manufacturing of aluminium billets for the extrusion, rolling and forging industries. The project offered challenges during the COVID-19 pandemic, but the team was able to construct the facility and began...
The United Steelworkers (USW) is on strike at Constellium aluminium plant based in Alabama because of unfair labor practices. More than 400 members of Local 200 are said to be taking part in this strike. USW District 9 Director Daniel Flippo said, “Constellium insists on a contract that would erase decades of collective bargaining progress on issues like seniority and occupational health and safety in order to give management the unchecked authority to pick and choose exactly who works and when. We're going to fight to hold the company accountable and to win the fair contract that USW members have earned and deserve.” “Long before Constellium acquired this plant, our union contract made these the kind of jobs that support families and sustain our community. We cannot allow the company to...
According to the latest data released by the International Aluminium Institute for November 2020, alumina production in West Europe stood at 456,000 tonnes, representing a growth of 8,000 tonnes or 1.8 per cent month-on-month. In October also, alumina production in West Europe stood higher month-on-month by 15,000 tonnes or 3.46 per cent from 433,000 tonnes. In those three months (September-November), alumina production in West Europe totalled 1.337 million tonnes, down by 4.98 per cent from 1.407 million tonnes during the same period last year. On a year-on-year calculation, West Europe’s alumina output in November 2020 grew by 16,000 tonnes or 3.64 per cent from 440,000 tonnes. In the first eleven months of 2020, alumina production in West Europe amounted to 5.142 million tonnes, 2.67...
On 28 th December, PT Alumina Borneo Indonesia (BAI) commenced the construction of the Smelter Grade Alumina Refinery (SGAR) in Bukit Batu Village, Sungai Kunyit District in Indonesia. The SGAR development plan has been prepared in recent years. This first pole planting for the project was led by the H Sutarmidji, Governor of West Kalimantan, via a virtual platform. The first piling ceremony of the SGAR development project was also witnessed by representatives of the Ministry of BUMN and the Ministry of Energy and Mineral Resources, the Regent of Mempawah, Hj Erlina SH MH, Deputy Regent, H Muhammad Pagi, Muspida Pemkab Mempawah, Directors of PT BAI, Directors of PT Alumina, and other guests. "The West Kalimantan Provincial Government fully supports the construction of SGAR in Bukit Batu...
The LME complex were mostly higher on Wednesday, with aluminium added 0.68 per cent. Benchmark aluminium price on the London Metal Exchange, however, extended drop by 0.22 per cent to finish the day at US$ 1995.50 per tonne on December 30. LME aluminium cash (bid) price and LME official settlement price stood at US$ 1995.50 per tonne on December 30, down by US$ 4.5 per tonne from US$ 2000 per tonne on December 29. 3-months bid price and 3-months offer price declined by US$ 7 per tonne from US$ 2004 per tonne to US$ 1997 per tonne. Dec 21 bid price and Dec 21 offer price came in at US$ 2025.50 per tonne. The LME aluminium opening stock declined from 1366275 tonnes to 1351250 tonnes on Wednesday, December 30. Live Warrants stood at 1188175 tonnes, while Cancelled Warrants at 163075 tonnes....
SMM aluminium ingot price has dropped for the fourth day in a row. As of Thursday, 31 December 2020, the price now stands at RMB 15710 per tonne. This is down by RMB 60 per tonne from Wednesday’s price of 15,770 per tonne. The price is expected to range at RMB 15690-15730 per tonne. In Foshan and Wuxi, the price has slipped by RMB 80 per tonne and RMB 40 per tonne to stand at RMB 15810 per tonne and RMB 15700 per tonne. Their average prices are expected to range within RMB 15790-15830 per tonne and RMB 15690-15710 per tonne. Aluminium prices in Hangzhou and Chongqing stand at RMB 15715 per tonne and RMB 15705 per tonne, up RMB 45 per tonne and RMB 75 per tonne. Aluminium ingot prices in Shenyang, Tianjin Linyi and Gongyi have contracted to stand at RMB 15725 per tonne, RMB 15730 per...
Vedanta, a subsidiary of Vedanta Resources and also India’s largest producer of aluminium has cropped up as the highest bidder for the Radhikapur West coal block, located in Angul district, Odisha. The coal is just at a distance of about 190 km from Vedanta’s Jharsuguda Aluminium Smelter. The coal block is ideally fit for the Jharsuguda aluminium smelter considering its logistical location and annual capacity. The total reserves of the mine remain at 312 million, while the extraction capacity approval per annum stands at 6 million tonnes. The mine once becomes operation will deliver fuel security, enhance power availability and further strengthen the Vedanta's Aluminium and Power operations and performance. The announcement was made on 30 th December’20 post the market hours. The smelter...
As the year 2020 comes to an end, AlCircle recapitulates the year in its new report Aluminium Industry Recap 2020 . The report compiles the new major innovations, investments, expansions, and policy changes that either shaped or disrupted the global aluminium industry value chain in 2020. The primary aim of the report is to touch upon the significant developments of this year vertical wise, in a bid to analyse how every vertical influenced each other’s growth or counter-growth. Moreover, the developments are not only interpreted chronologically but analytically to help the readers have a critical understanding of the movement of aluminium value chain and how that turned around the market. Overall, 2020 was a year of mayhem for the aluminium industry caused by the most unprecedented...
Hindalco Industries Limited has cut its aluminium products price after raising it on December 25. With effect from Wednesday, 30 December 2020, the company’s wire rods price stands at INR 179,850 per tonne, representing a drop of INR 2,250 per tonne, from INR 182,100 tonne on December 25. Aluminium billets price has reduced to stand at INR 175,850 per tonne on December 30 2020. That was down INR 2,250 per tonne from INR 178,100 per tonne on December 25. Hindalco aluminium ingots price stands at INR 168,750 per tonne as of Wednesday, 30 December 2020. This marks a decline of INR 2,250 per tonne from last week. 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...
The data analytics and consulting company, headquartered in London, GlobalData Plc in April’20 reported that bauxite miners generally been unaffected, with the major producing countries of Australia, Guinea and Brazil were yet to announce the closure of mines at that time and mines in China have almost resumed operations to pre-Covid-19 lockdown levels. In Australia, several states have imposed a ban on workers travelling from interstate unless they are critical, and this has led to many miners housing as many of their FIFO workers as possible onsite. In India, another major producer of bauxite kept it exempt from the country’s first phase of 21-day COVID-19 pandemic lockdown. However, in August’20, Globadata reported that the global bauxite mine production hardly to get effected by the...
The light vehicle market in India is estimated to see a drop in 2020, with sales falling 22-25 per cent, found two top global vehicle forecasting firms. This will be the highest decline among the top ten global markets, bringing India's position down below the top five. India is estimated to lose its No.5 position to South Korea in 2020 as the automobile market remained less affected in Korea than in India due to the COVID19 pandemic. India’s light vehicle production is likely to close at 3.2 million tonnes at the end of 2020, recording a decade low. Sales are anticipated to come in at 14.9 million units compared with 76.5 million units a year ago, according to HIS Markit. India lost almost three months of production or about 900,000 units than in 2019, said Gaurav Vangaal, IHS Markit’s...
As per the World Bank report, the COVID-19 shock to Kazakhstan’s economy is considered as the biggest in two decades. It has been for the first time since the late 1990s Kazakhstan’s economy to 3% in 2020 with a moderate recovery by 2.5% in 2021. The Central Asian nation’s import of aluminium bar rods and profiles during 2018-19 has recorded 16,968 tonnes and the expenditure occurred for the import remained at $55.08 million. The import for 2020 is marked at 9917 tonnes and the revenue expenditure to remain at $34.20 million. However, when the import volume and expenditure of 2020 gets assorted with the existing two years, it denotes 26,885 tonnes and $89.28 million respectively. Kazakhstan’s import of aluminium bar rods and profiles in 2018 stood at 7090 tonnes and the expenditure...
2020 witnessed a massive growth in electric vehicles, whereas the aviation industry affected due to coronavirus pandemic. The Electric vehicle sales in India recorded a growth of 20 per cent to 156,000 units in the financial year 2019-20, largely driven by the sales of electric two-wheelers that form bulk of the nascent industry. Of 156,000 units, electric two-wheelers sales accounted for 152,000 units, up 20.7 per cent from the last year, while electric cars accounted for 3,400 units. Electric bus sales were 600 units compared to 400 units in the financial year 2018-19. Following a plunge of 42 per cent in the first quarter of 2020, China’s auto sales registered growth for a seventh month in a row in October as the country recovered from the COVID-19 pandemic. Sales of electric vehicles...
