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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Chef, Restaurateur and TV Personality Gordon Ramsay has collaborated with Brew Pipeline and Global Brews of London for the launch of its Hell’s Seltzer in the US. The new range will be available in 12-can variety packs in early 2021. Hell’s Seltzer comes in four flavours: Berry Inferno: peach, blueberry and raspberry, Knicker Twist: passionfruit, pineapple and orange, Mean Green: kiwi, lime, mint and pineapple and That’s Forked: key lime, vanilla and graham. Each Seltzer is inspired by popular menu items from his Hell’s Kitchen restaurants across the US. Hell’s Seltzer contains 5% ABV. “Gordon’s team and Brew Pipeline put flavour first when developing Hell’s Seltzer,” according to the Steve Kwapil, CEO and Co-Founder of Brew Pipeline. “That’s always been Gordon’s goal, and we think he...
North America’s alumina production registered a dip of 5% year-on-year. The output in November 2020 came in at 227,000 tonnes, from 239,000 tonnes in November 2019. On a month-on-month comparison, the production dropped slightly by 0.44 per cent from October’s production of 228,000 tonnes. In the first eleven months of 2020, alumina output totalled 2.442 million tonnes, from 2.665 million tonnes in the first eleven months of 2019, according to the latest data showed by the International Aluminium Institute (IAI). This marked a decrease of 8.37 per cent year-on-year. South America’s alumina production declined by 2 per cent year-on-year to 980,000 tonnes in November 2020. The output was 1,000 tonnes in November 2019. On a month-on-month basis, the alumina production inched up by 5.83 per...
Vedanta Limited has extended the price cut of its aluminium products and aluminium ingot with effect from Wednesday, December 30. Marking the second consecutive decline, Vedanta’s aluminium wire rod price has come in at RMB 173,750-181,250 per tonne on December 30, down by INR 1500 per tonne from INR 175,250-182,750 per tonne on December 22. Vedanta’s aluminium billet price is standing at INR 174,250 per tonne, shrinking by INR 1500 per tonne as well from INR 175,750 per tonne on the previous day. With the latest cut, Vedanta is now selling its aluminium ingot at INR 166,250-179,250 per tonne, compared to INR 167,750-180,750 per tonne a week ago. This also represents a downfall of INR 1500 per tonne. Vedanta links its aluminium product and aluminium ingot prices to the three-month futures...
World alumina production in November 2020 stood at 11.385 million tonnes, representing a month-on-month downfall of 1.10 per cent, according to the data revealed by the International Aluminium Institute (IAI). In October, world alumina output was 11.511 million tonnes, up by 6.04 per cent from 10.855 million tonnes in September 2020. Total production in those three months (September-November) came in at 33.751 million tonnes, 2.78 per cent higher than 32.838 million tonnes during the same period last year. On a year-on-year basis, world alumina production in November stood up by 5.67 per cent from 10.774 million tonnes. Total alumina production in the first eleven months of the year (January-November) amounted to 121.912 million tonnes, 1.05 per cent higher year-on-year than 120.640...
Benchmark aluminium price on London Metal Exchange declined 1.09 per cent after the Christmas Holiday. The price stood at US$ 2000 per tonne on Tuesday, 29 December 2020, from US$ 2022 per tonne on December 24. As of Tuesday December 29, LME aluminium cash (bid) price stands at US$ 2000 per tonne, LME official settlement price stands at US$ 2000 per tonne; 3-months bid price stands at US$ 2004 per tonne, 3-months offer price is US$ 2004 per tonne; Dec 21 bid price stands at US$ 2030 per tonne, and Dec 21 offer price stands at US$ 2030 per tonne. The LME aluminium opening stock stood at 1366275 tonnes. Live Warrants totalled 1190025 tonnes, and Cancelled Warrants were 176250 tonnes. LME aluminium 3-months Asian Reference Price is hovering at US$ 1988.03 per tonne. SHFE Aluminium Price...
It has been after long five years without mining activity, the initial test ship left for the United States loaded with bauxite on 29 th December’20 from the port of Cabo Rojo in Pedernales. As per our report, the port of Cabo Rojo regained economic life with a ship that took 9000 tonnes of Bauxite to Alabama. At the dock, dozens of workers were observed showing their encouragement that Pedernales is reactivated in mining. While the workers were shouldering their responsibilities at the warehouses and transfer of the brown material, it was verified that the personnel had protective equipment, the trucks used tarps and the dust was permanently quenched on the dock, to protect the environment. Since the Dovemco mining company was paralyzed in 2015, this is the first bauxite shipping done...
A00 aluminium ingot price in China has extended downfall by RMB 100 per tonne to stand at RMB 15,770 per tonne on Wednesday, December 30, marking the third consecutive day of decline, according to the Shanghai Metals Market. The average prices are expected to range between RMB 15,750 per tonne and RMB 15,790 per tonne, with spot contract to be traded at a premium price of RMB 60-100 per tonne, down by RMB 70 per tonne from the previous day. In Foshan, the price has declined the highest by RMB 160 per tonne to RMB 15,890 per tonne on December 30, followed by the fall of RMB 130 per tonne in Chongqing to RMB 15,780 per tonne. In Tianjin and Wuxi, A00 aluminium ingot price has decreased by RMB 120 per tonne and RMB 110 per tonne, respectively, to come in at RMB 15,770 per tonne and RMB...
Tesla Inc., the American electric vehicle and clean energy company will start operations in India early next year, as commented by Nitin Gadkari, Minister of Road Transport and Highways, Govt. of India. Tesla is considered as the world’s most valuable automobile company, evaluated as more than double the combined value of Toyota, Ford and General Motors. Elon Musk, while commenting on Tesla EV’s Indian journey, stated that definitely, it will be 2021, but not the early part of the year. Gadkari said: “Tesla would first start by selling its cars in India. The India price of the Tesla Model 3 should be in the INR 55-60 lakh range and depending upon the response, maybe look at assembly and manufacturing operations as well.” The Transport Minister added: “India is going to become a number one...
According to a recent report, India has started probing into alleged subsidised aluminium products exports by Malaysia, following a complaint by the domestic industry. The news came after the Directorate General of Trade Remedies (DGTR) began an anti-subsidy investigation to examine if Malaysia’s subsidised aluminium primary foundry alloy ingots exports were affecting the domestic industry. At first, Vedanta Limited and Bharat Aluminium Company Limited (BALCO) filed an application urging the initiation of a probe into subsidised imports of aluminium products originating in or from Malaysia. Aluminium primary foundry alloy ingots are primarily used for automobile and steel applications. Both Vedanta and BALCO requested the imposition of countervailing duties on imports alleging subsidised...
In East & Central Europe, primary aluminium production came in at 340,000 tonnes in November 2020, representing a plunge of 11,000 tonnes or 3.12 per cent month-on-month. The production in October stood at 351,000 tonnes, up by 13,000 tonnes or 3.85 per cent from 338,000 tonnes in September. On a year-on-year calculation, primary aluminium production in East & Central Europe stood 5,000 tonnes or 1.45 per cent lower than 345,000 tonnes. Total production in three months during September-November 2020 amounted to 1.029 million tonnes, down by 1.53 per cent from 1.045 million tonnes during the same period last year. During January-November 2020, primary aluminium production in East & Central Europe totalled 3.801 million tonnes, flat compared with 3.800 million tonnes during January-November...
Karbach Brewing has expanded its products portfolio with the launch of new range. The company will launch Ranch Water Hard Seltzer in cans in January 2021. The canned Seltzer, which will hit stores across Texas, is brewed with lime and agave. "We’re excited to pay homage to our home state and expand our offerings with this new release," said Eric Warner, founding brewmaster at Karbach Brewing. The 4.5% ABV Hard Seltzer will be sold in six-packs or 12-packs. David Graham, Karbach marketing manager said, “We’ve had a big demand from our consumers for a seltzer. Folks of all kinds come to the brewery and a lot of times we’re getting requests for something outside the ‘normal’ beer world and something that is lower in carbs and calories. “Ranch Water Hard Seltzer has been our most strenuous...
Rusal, the company of En+ Group’s metals segment, has become a part of the Japan Climate Leaders’ Partnership (JCLP), a powerful business coalition in Japan that aims to advance sustainable low-carbon development. The news came after Anglo-Russian energy and metals company En+ Group announced it on Tuesday, December 29. Rusal, one of the world’s largest low-carbon aluminium manufacturers, is proud to join the 163 companies of the JCLP and contribute to innovations and analysis for a low-carbon and ultimately a carbon free future. The JCLP’s focus on creating and practicing business strategies while incorporating its climate change efforts align with Rusal’s business goals. So, both of them are excited to work together to contribute to their aims. Their partnership also represents a...
Flat rolled aluminium products manufacturer JW Aluminum will close its rolling foil products facility in Williamsport, Pennsylvania by January 29, 2021. The company is pursuing strategic purchasers regarding a potential sale of the plant. Stan Brant, Jr., Chief Executive Officer of JW Aluminum said, “The aerospace industry was immediately and severely impacted by the onset of the COVID-19 pandemic. This abrupt contraction is negatively affecting participants throughout the supply chain. Historically, aerospace-related products have accounted for more than 50% of the total production at the Williamsport facility.” “Our focus now is to provide a safe and successful transition for our teammates in Williamsport as we continue operations at our facilities in South Carolina and Arkansas to...
The COVID-19 pandemic in Bolivia appeared amid an economic and political crisis as a result of the failed presidential elections of October 2019. Although timely measures were adopted to face the pandemic at the beginning of the outbreak and that, in effect, it did slow down the initial increase of the epidemiological curve, later it became impossible to stop the exponential growth of cases and finally, the health care system collapsed exposing its deficient structure. The lockdown paralyzed activities and many people lost their jobs; livelihoods were partially or destroyed which resulted in a loss of income for many. The economy faced a supply shock followed by a demand shock because the level of household consumption dropped. The government has now started to re-open the economy and has...
Shanghai base metals fell across the board in overnight trading, with aluminium decreased 0.95 per cent. The London Metal Exchange continued to remain close on Monday, December 28, for the Christmas holiday. As of Thursday, December 24, LME aluminium cash (bid) price and LME official settlement price stood US$ 23 per tonne higher than the previous day at US$ 2022 per tonne. 3-months bid price and 3-months offer price hovered at US$2025.50 per tonne, up by US$ 17 per tonne from US$ 2008.50 per tonne on December 23. Dec 21 bid price and Dec 21 offer price came in at US$ 2050.50 per tonne. The LME aluminium opening stock inched down from 1378100 tonnes to 1372350 tonnes on Thursday, December 24. Live Warrants stood at 1190225 tonnes, while Cancelled Warrants at 182125 tonnes. LME aluminium...
The average spot alumina price in China has registered a hike for the second day in a row, as updated by Shanghai Metals Market. The price has marked an increase of RMB 9 per tonne to stand at RMB 2338 per tonne on Tuesday, 29 December 2020. The prices of alumina in Shandong, Henan, Shanxi and Guizhou China markets have risen by RMB 10 per tonne each to stand at RMB 2340 per tonne, RMB 2350 per tonne, RMB 2350 per tonne and RMB 2285 per tonne on Tuesday, 29 December 2020. Alumina price in Guangxi has increased by RMB 15 per tonne to RMB 2285 per tonne. Alumina (Imported) price has increased to RMB 2375 per tonne after two days of restrained. This represents an increase of RMB 40 per tonne from RMB 2335 per tonne. The average price is expected to move within a range of RMB 2350-2400 per...
The government of India has reportedly approved state-run Coal India Limited’s diversification plan into aluminium value chain and solar industry. Coal India has planned INR 1 lakh crore investments in building two aluminium plants in the eastern region and an entire solar module manufacturing value chain, said two people familiar with the matter. Coal India Limited will set up three specific-purpose vehicles (SPVs) for INR 45,500 crore integrated solar wafer manufacturing facility, a greenfield aluminium project for INR 38,000 crore, and an aluminium smelting unit with National Aluminium Company Limited for about INR 23,400 crore, according to the report. Run by captive thermal power units, the greenfield aluminium plant and aluminium smelting unit are expected to come up at Orissa and...
On 28 th December’20, the French industrial group specializing in complex handling and lifting systems and integrated systems solutions, REEL International SAS has signed an agreement to acquire Metso Outotec Oyj (Finland) aluminium business. REEL, the leader in handling and lifting systems, now with this acquisition will add to its offering green anode plant, anode rodding shop and casting equipment along with related services, thus becoming a leading technology provider in the global aluminium industry. However, the value of the deal is yet to be revealed. The acquired business serves aluminium smelters worldwide and stands at the top position in the production of anodes required in the aluminium smelting process. It’s leading Green Anode Plant and Anode Rodding shop technologies are...
