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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On 24 th December’20, Coal India Ltd., the Indian public sector coal mining and refining company and also the world’s largest coal-producing company’s board have delivered in-principle approval for venturing into the aluminium value chain, solar sectors and creation of special purpose vehicles (SPVs). Coal India (CIL), contributes around 82% to the total coal production of India, however on contrary CIL ranks 8th among the top 20 firms responsible for a third of all global carbon emissions. The Public Sector Undertaking, during filing to an Indian Stock Exchange (BSE), said: "CIL Board in its Meeting held on date, accorded its 'In-Principle' approval to venture into aluminium value chain (mining-refining-smelting) and solar power value chain (ingot-wafer-cell-module and generation)," the...
The LME complex cruised higher, with aluminium increased 1.3 per cent. Benchmark aluminium price on the London Metal Exchange stood 1.15 per cent higher at US$ 2022 per tonne on Thursday, December 24, from US$ 1999 per tonne on Wednesday. LME aluminium cash (bid) price and LME official settlement price rose for the second day in a row by US$ 23 per tonne on Thursday, December 24, to peg at US$ 2022 per tonne. 3-months bid price and 3-months offer price stood 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...
PT Kayan Hydropower Nusantara (KHN), which will work on the construction of the Mentarang Induk Hydro Power Plant (PLTA) on the Mentarang River, Malinau, North Kalimantan towards the end of 2020, has signed MoU with PT Indonesia Asahan Aluminum (Inalum). Now, both the parties agreed on a joint study on the plan to provide electricity for an integrated aluminium smelter that is supported by the Mentarang Induk Hydroelectric Power Plant (PLTA) Project. The signing was done virtually by the Antony Lesmana, President Director of PT KHN and Oggy Achmad Kosasih, the Managing Director of PT Inalum. The signing of the memorandum of understanding was also witnessed Oktavianus Tarigan, Senior VP Business Development, PT Inalum, the elected Governor of Kaltara, Drs H. Zainal Arifin Paliwang, SH,...
According to Shanghai Metals Market, stocks of 6063 aluminium billet across five major consumption areas in China declined by 600 tonnes from a week ago to 72,400 tonnes as of Thursday, 24 December 2020. The chart below indicates the current status of aluminium billet inventories across China in more details: Inventories of aluminium billets in Nanchang witnessed the largest drop of 3,200 tonnes. The stocks came in at 7,400 tonnes. The inventories in Wuxi also fell by 2,800 tonnes to 14,100 tonnes. Huzhou remained unchanged at 10,000 tonnes as of Thursday, 24 December 2020. The stocks in Foshan and Changzhou rose by 4,300 tonnes and 1,100 tonnes week-on-week to 32,900 tonnes and 8,000 tonnes on Thursday, 24 December 2020.
SMM aluminium ingot price has registered a hike for the second day in a row. The price stands at RMB 16310 per tonne on Friday, 25 December 2020, marking an increase of RMB 40 per tonne. The price is expected to range at RMB 16290-16330 per tonne. In Foshan and Wuxi, the price has risen by RMB 60 per tonne and RMB 30 per tonne to stand at RMB 16540 per tonne and RMB 16300 per tonne. Their average prices are expected to range within RMB 16520-16560 per tonne and RMB 16290-16310 per tonne. Aluminium prices in Hangzhou and Chongqing stand at RMB 16340 per tonne and RMB 16360 per tonne, up RMB 20 per tonne and RMB 25 per tonne. Aluminium ingot prices in Shenyang and Tianjin have increased to stand at RMB 16305 per tonne and RMB16310 per tonne, up RMB 50 per tonne and RMB 40 per tonne. But the...
Metal Plast Industries, based in UAE, a 100% subsidiary of the diversified multinational business conglomerate Mulk Holdings International, announced that it has developed A1 grade fire-rated core and a proprietary bonding system for aluminium composite panels (ACP) exclusively for Alubond, in an attempt to reduce the spread of fire in high-rise buildings. The world’s largest ACP and MCM brand, Alubond with over 25 million sq m of manufacturing and processing capacity with facilities in Europe, UAE, Turkey, Oman and India. “The newest addition is the A1 core, which is a further proof of excellence and innovation”, said Mulk Holdings in a statement. “A technology breakthrough, the development of the core is considered a game-changer in the fire rating standards of exterior facades and...
In a recent interview, National Aluminium Company’s (NALCO) Chairman & Managing Director, Sridhar Patra, revealed his optimistic views saying that production activities are recommencing gradually and so the demand for aluminium has begun to rise in both international and Indian market, following a disappointing period of time in FY2020-21 due to the COVID19 pandemic. In April, the average aluminium price stood the lowest in last ten years at INR 1,421 per tonne, but improved a bit in Q1FY21 and even more in Q2 to reach around INR 2,000 per tonne towards the third quarter of the year. Going ahead, Mr Patra sees more positive improvements in prices by the first quarter of FY2022. Talking about Utkarsha Aluminum Dhatu Nigam Ltd, a JV between NALCO & MIDHANI to produce high-end aluminium...
RUSAL has won the Vernadsky National Environmental Award for its dry gas cleaning system (DGCS) in the category "Innovative eco-efficient technologies in industry and energy". The new technology captures over 99.5 % of hydrogen fluoride and solid fluoride gases and provides savings in capital costs. The scientific divisions which include the SibVAMI (Irkutsk), RUSAL ITC (Krasnoyarsk), Bratsk (BrAZ), Novokuznetsk (NkAZ) and Irkutsk (IrkAZ) aluminium smelters presented the DGCS. "The overwhelming evidence of both DGCS’ energy efficiency and environmental friendliness along with its positive effect on CAPEX allowed RUSAL to switch swiftly to the use of its own technology and equipment, replacing foreign analogues. Support for and recognition from the expert community of corporate efforts to...
Hindalco Industries Limited has reduced its aluminium products price after raising it for the third time in a row. With effect from Thursday, 24 December 2020, , the company’s wire rods price stands at INR 180,850 per tonne, down by INR 2,500 per tonne, from INR 183,350 tonne on December 11. Aluminium billets price has declined to stand at INR 176,850 per tonne on December 24 2020, marking a drop of INR 2,500 per tonne from INR 179,350 per tonne on December 11. Hindalco aluminium ingots price has slipped by INR 2,500 per tonne to INR 169,750 per tonne as of Thursday, 24 December 2020. 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...
TEU, the 14 th Tanzania Economic Update organised by World Bank forecasts that economic growth to drop sharply in 2020, to 2.5% from the 6.9% growth the government reported in 2019 while recognizing significant uncertainty as the Covid-19 pandemic continues to unfold. The East African nation’s import of aluminium cans during 2018-19 has been recorded with 1082 tonnes and the foreign revenue expended for the import remained at $28.41 million. The import for 2020 will be standing at 248 tonnes and the expenditure to remain at $1.72 only. However, when the import volume and expenditure of 2020 gets added with the existing two years, it illustrates 1330 tonnes and $ 30.13 million respectively. Tanzania’s import of aluminium cans in 2018 stood at 628 tonnes and the expenditure accounted...
Benchmark aluminium price on London Metal Exchange rose 0.3 per cent to US$ 1999 per tonne on Wednesday, 23 December 2020, from US$ 1993 per tonne on Tuesday. As of Wednesday December 23, LME aluminium cash (bid) price stands at US$ 1999 per tonne, LME official settlement price stands at US$ 1999 per tonne; 3-months bid price stands at US$ 2008.50 per tonne, 3-months offer price is US$ 2008.50 per tonne; Dec 21 bid price stands at US$ 2033 per tonne, and Dec 21 offer price stands at US$ 2033per tonne. The LME aluminium opening stock stood at 1378100 tonnes. Live Warrants totalled 1190925 tonnes, and Cancelled Warrants were 187175 tonnes. LME aluminium 3-months Asian Reference Price is hovering at US$ 1993 per tonne. SHFE Aluminium Price Trend Benchmark aluminium price for SHFE increased...
A00 aluminium ingot price in China has registered a hike on Wednesday, December 24, after three consecutive days of decline during December 21-23 from RMB 16,960 per tonne to RMB 16,060 per tonne. The price today is standing at RMB 16,270 per tonne after growing by RMB 210 per tonne, found the Shanghai Metals Market data. The average prices are expected to range between RMB 16,250 per tonne and RMB 16,290 per tonne, with spot contract to be traded at a premium price of RMB 230-270 per tonne, up by RMB 20 per tonne from the previous day. The primary aluminium ingot price in Foshan has seen the highest growth of RMB 280 per tonne to stand at RMB 16,480 per tonne, followed by the hike of RMB 225 per tonne in Chongqing to RMB 16,335 per tonne. In Gongyi and Wuxi, A00 aluminium ingot price has...
The three Bharat Forge companies stand among several aluminium forging companies in Germany that will have to pay an accumulated value of € 175 million for "engaging in illegal competitive agreements.” In connection with two separate proceedings, Bundeskartellamt (Federal Cartel Office), Germany's national competition regulator declared the penalty on Bharat Forge Aluminiumtechnik GmbH, Bharat Forge CDP GmbH, and Bharat Forge Global Holding GmbH. Bharat Forge commented on the issue by saying: “The investigation in the above two matters pertained to the period between 2004 and 2018 and were initiated by FCO against several companies in Germany. Our German subsidiaries were among many such companies.” Andreas Mundt, President of the Bundeskartellamt, said: “For many years the companies had...
Alumina market witnessed a controlled price trend in 2020 as there had been a fair balance between production and consumption of the ore, even amid the unprecedented COVID-19 pandemic. In the first few months of the year, the prices trended down significantly due to lower buying interests among primary aluminium smelters, but later on, recovered with market resilience. Australian alumina FOB price closed the year on a bullish trend from US$ 278.50 per tonne to US$ 302 per tonne. Global alumina output during January-October 2020 stood at 110.466 million tonnes, slightly up by 0.55 per cent from 109.866 million tonnes during the same period last year. Metallurgical-grade alumina production came in at 104.068 million tonnes. Except in China, where alumina production dwindled during the above...
Canyon Resources Limited announced the execution of a bankable feasibility study (BFS) contract with leading Chinese engineering, procurement and construction (EPC) firm Changtian International Engineering Corporation of MCC (MCC-CIE), for the development of Stage 1 of Canyon’s Minim Martap bauxite project. MCC-CIE is part of China Metallurgical Group Corporation (MCC), which is a wholly-owned subsidiary of China Minmetals Corporation (Minmetals). MCC-CIE, one of China’s leading EPC companies and is a one-stop-shop for the project development life cycle, incorporating feasibility studies, engineering design, metallurgical infrastructure development, heavy industry projects and equipment manufacturing. MCC-CIE works extensively with leading banks in China and as part of the BFS scope will...
The economic condition of Seychelles has been pointed as alarming, as said by the Finance Minister in November’20, while detailing that the economic growth of the tourism-dependent nation may shrink by 13.5%, instead of the 10.8% previously foreseen due to the hardships brought by COVID-19. The Island nation on the Indian Ocean, off East Africa, has been recorded with 402 tonnes of aluminium structures import in 2018-19 and the expenditure occurred for the import stood at $10.36 million. The import for 2020 remains at 342 tonnes and the expenditure stands to stand at $3.27 million. However, when the import volume and expenditure for 2020 gets summed with the preceding two years, it denotes 744 tonnes and $13.63 million respectively. Seychelles’ import of aluminium structures in 2018 stood...
Recording artist Travis Scott has teamed up with Anheuser-Busch for a new brand CACTI. CACTI Agave Spiked Seltzer comes in three options: strawberry, lime and pineapple. The product will be sold in 12oz cans in a 9 count Variety Pack as well as 16oz and 25oz singles in Lime and Pineapple. The new range will have a 7% ABV and will be available in spring 2021. “CACTI is something I’m really proud of and have put a ton of work into. Me and the team really went in, not only on getting the flavor right, but on thousands of creative protos on everything from the actual beverage, to the can concept, to the packaging and how it is presented to the world. We always try to convey a feeling in our products,” said Travis Scott. “I’m a big fan of tequila so I came at it from that angle, too. I’m...
SMM aluminium ingot price has extended decline for the third consecutive day. The aluminium price now stands at RMB 16060 per tonne on Wednesday, December 23, 2020 from Tuesday’s price of RMB 16350 per tonne. This marks a drop of RMB 290 per tonne. The price is expected to move within a range of RMB 16040-16080 per tonne. In Foshan and Wuxi, the price has slipped by RMB 260 per tonne and RMB 290 per tonne to stand at RMB 16200 per tonne and RMB 16060 per tonne. Aluminium prices in Hangzhou and Chongqing have come in at RMB 16130 per tonne and 16110 per tonne, down RMB 250 per tonne and RMB 230 per tonne. Aluminium ingot prices in Shenyang, Tianjin, Linyi, and Gongyi have declined to stand at RMB 16055 per tonne, RMB 16110 per tonne, RMB 16160 per tonne, and RMB 16000 per tonne. The...
