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 United States aluminium scrap exports to Indonesia stood at 8,780 tonnes in September 2020, recording a downfall of 34.96 per cent month-on-month, according to the US Geological Survey. In August 2020, the United States exported 13,500 tonnes, which stood up by 33.66 per cent from 10,100 tonnes in July. This brings the total exports in three months of the third quarter of 2020 to 32,380 tonnes, 62.63 per cent higher than 19,910 tonnes in Q2 2020. On a year-on-year calculation, the United States aluminium scrap exports to Indonesia in September 2020 stood 78.09 per cent higher than 4,930 tonnes. In the first 9 months of the year, the United States exported 75,900 tonnes of aluminium scrap to Indonesia, slightly up from 74,500 tonnes during the same period last year. The United States’...
Novelis Inc. has received three influential industry awards for its Novelis Advanz™ 6HS-s615 aluminium alloy. The three awards include “2020 China Automobile & Parts Industry Developing & Innovation Award” issued by Automobile and Parts, “2020 Lingxuan Innovation Award” enacted by Auto Business Review and “Automotive Innovation Technology Award” conferred by Vogel. “We are truly honored to receive three awards that highly recognize our innovative and reliable product,” said James Liu, Managing director of Novelis China, and Vice President, Automotive, Novelis Asia. “As taking customer centricity with unmatched innovation capabilities is our constant goal, we will continue to partner with customers and manufactures to develop next-generation designs for aluminum-intensive and mixed...
The LME complex cruised lower on Tuesday, including aluminium slipped 1.63 per cent. Benchmark aluminium price on the London Metal Exchange plunged by 0.97 per cent to US$ 1993 per tonne on Tuesday, December 22, from US$ 2012.50 per tonne on Monday. Both LME aluminium cash (bid) price and LME official settlement price declined by US$ 19.50 per tonne on Tuesday, December 22, to peg at US$ 1993 per tonne, marking the second consecutive day of downfall. 3-months bid price and 3-months offer price stood at US$ 2006.50 per tonne, a decrease of US$ 17 per tonne from US$ 2023.50 per tonne on December 21. Dec 21 bid price and Dec 21 offer price came in at US$ 2027.50 per tonne. The LME aluminium opening stock plunged from 1390350 tonnes to 1383725 tonnes on Tuesday, December 22, after an...
In November 2020, primary aluminium production in Africa came in at 129,000 tonnes, a decrease of 7,000 tonnes or 5.15 per cent month-on-month. In October 2020, Africa’s aluminium production stood at 136,000 tonnes, up by 5,000 tonnes or 3.82 per cent from 131,000 tonnes in September. On a year-on-year calculation, Africa’s primary aluminium output in November 2020 declined by 4,000 tonnes or 3 per cent from 133,000 tonnes. During September-November, Africa produced 396,000 tonnes of primary aluminium compared with 405,000 tonnes during the same period last year. In total 11 months of the year, Africa’s primary aluminium production amounted to 1.468 million tonnes, down by 2.39 per cent year-on-year from 1.504 million tonnes. Across the world, primary aluminium production in November 2020...
On 22 nd December, Constellium SE, the global leader in the development and manufacturing of innovative, high value-added aluminium products for a broad scope of markets and applications, including aerospace, automotive and packaging declared that Jean-Christophe Deslarzes will be appointed as a Special Advisor to the Board of Directors in January 2021. The Board expects to put forward the nomination of Mr Deslarzes as a Non-Executive Director at the Company’s Annual General Meeting to be held in 2021. Jean-Christophe has been a member of the Board of Directors of The Adecco Group since April 2015 and Chairman of the Board since April 2020. Mr Deslarzes has also been Chairman of the Board of Directors of ABB India Limited since February 2018. Mr Deslarzes began his career in 1991 as a tax...
North America’s primary aluminium production stood at 327,000 tonnes in November 2020, representing an increase of 5.14% year-on-year, according to the latest data showed by the International Aluminium Institute (IAI). On a month on month basis, the output dropped by 2.1 per cent from October’s production of 334,000 tonnes. The output came in at 3.637 million tonnes in the first eleven months of 2020, from 3.485 million tonnes in the first eleven months of 2019. This recorded a decline of 4.36 per cent year-on-year. In South America , primary aluminium production reduced by 9.47 per cent year-on-year and 2.27 per cent month-on-month in November 2020. The output stood at 86,000 tonnes. Primary aluminium production declined from 983,000 tonnes in January-November 2019 to 915,000 tonnes in...
PT Indal Aluminum Industry Tbk (INAI), the manufacturer of extruded aluminium in Indonesia has signed a loan facility worth Rp 200 billion from PT Bank MNC International Tbk (BABP) on December 18. On December 22, based on the disclosure of information, the extruded aluminium company’s management assessed that the loan facility will help smooth operations and increase the company's sales turnover. However, this loan facility will also have an impact on the company's financial condition, namely, the amount of debt will increase, thereby increasing interest costs. On the other hand, the margin from the company's business activity growth can meet these obligations. The company management added: “Rp 200 billion loan facility did not have any impact on the business continuity of Indal Aluminum...
Emirates Global Aluminium has signed a series of agreements with PT Indonesia Asahan Aluminium (INALUM) for delivery of technological know-how to upgrade the Indonesian company’s aluminium smelter in North Sumatra. The signing was part of Indonesia UAE Week, which was organised by the two countries’ Embassies to further deepen economic ties between the UAE and Indonesia. EGA will deliver expertise to upgrade the performance of the INALUM smelter by retrofitting improvements to its existing technology, which was first installed in 1982. The expected time to conclude the project will take some 18 months and it aims to increase production at the North Sumatran smelter by 20,000 tonnes of aluminium per year. EGA has extensive experience in upgrading aluminium smelting technology. The company...
Vedanta Limited has reduced the prices of its aluminium ingot and aluminium products with effect from Tuesday, December 22, after two consecutive hikes on December 10 and December 11. With the latest cut, Vedanta’s aluminium ingot price has come in at INR 167,750-180,750 per tonne, down by INR 1,500 per tonne from INR 169,250-182,250 per tonne on December 11. Vedanta is currently selling its aluminium wire rod at INR 175,250-182,750 per tonne after reducing it by INR 1,500 per tonne as well from INR 176,750-184,250 per tonne. Vedanta’s aluminium billet price has shrunk to INR 175,750 per tonne from INR 177,250 per tonne on December 11. Vedanta, like any other Indian aluminium producers, links its aluminium product and aluminium ingot prices to the three-month futures of aluminium on the...
According to the latest data released by the International Aluminium Institute (IAI), world primary aluminium production in November 2020 stood at 5.471 million tonnes, recording a downfall of 3.03 per cent month-on-month from 5.642 million tonnes. This decline comes after an intermittent hike of 4.46 per cent in October from 5.401 million tonnes in September 2020. However, on a year-on-year comparison, global primary aluminium output in November 2020 stood higher by 4.11 per cent from 5.255 million tonnes, showed the IAI data. In 11 months during January-November 2020, world primary aluminium production totalled 59.707 million tonnes, up by 2.56 per cent from 58.218 million tonnes during the same period last year. China, being the world's leading primary aluminium producer, churned out...
Hydro announced that internal testing program has verified the company’s new primary aluminium production technology, HAL4e. The test shows that Karmøy Technology Pilot is operating at around 15 percent lower energy consumption than the world average. Hydro Karmøy Technology Pilot started producing aluminium in January 2018. The target was an industrial full-scale verification of aluminium production technology. The final performance test proved successful results. “Twenty of the 60 HAL4e pots were selected for the final performance test, which was conducted for 75 days between October and December. During the test period, a range of additional measurements were performed on a number of parameters and exact production figures were traced and recorded. The energy results came in at 12.27...
The economy of Sweden is a developed export-oriented economy, but the Covid-19 pandemic has struck the economy hard. The government has admitted that the latest Covid-19 flare-up will drive the economy towards a weaker zone over the coming months than previously thought. Although, Sweden has so far faced a milder recession than many other European nations, after leaving much of its economy open throughout the pandemic. The Scandinavian nation’s import of aluminium stranded wire during 2018-19 was recorded at 11,475 tonnes and the revenue expended for the import stood at $24.53 million. The import for 2020 will remain at 7827 tonnes and the expenditure to stand at $14.56 million. However, when the import volume and expenditure of 2020 gets assorted with the existing two years, it signifies...
According to Reuters report, China's Baowu Steel Group has commenced production at the first phase of an aluminium alloy project in Henan. The project, which started construction in February 2019, has an annual capacity of 300,000 tonnes. The company has made an investment of around seven billion yuan ($1.07 billion) in the first phase. The project is planned to manufacture 80,000 tonnes of aluminium alloy auto sheets, 50,000 tonnes of aluminium alloy medium plates and 170,000 tonnes of aluminium alloy plate and strip per year. The aluminium alloy project is operated by Baowu's unit Baowu Aluminum Technology. The designed production capacity at Baowu Aluminum is seen at 600,000 tonnes per annum. This project is considered as a "landmark" of Baowu Steel Group’s extension to new materials...
According to a report on Monday, December 21, Altech Chemicals, together with Speciality Materials Investments LLC (SMI) have mutually decided to terminate the share purchase subscription agreement. The agreement was executed on April 22, 2020, for SMI to invest up to $2 million in Altech shares (Initial Investment) and up to an additional $981,000, subject to shareholder approval. Altech managing director Iggy Tan commented, "SMI provided funding for the Company and our HPA project during what was both a volatile period in the global markets and a transitional period for the Company. SMI has been a flexible, supportive, responsive and responsible funding partner to Altech. SMI's funding has been instrumental in bridging the Company's capital requirements, which provided it time to...
The Northern Ireland based Ryobi Aluminium Casting (UK) Ltd has secured the momentous contract with an emerging transmission supplier specialising in electrified drivetrains for the automotive market. The Carrickfergus manufacturer obtained the deal to produce 150,000 clutch and transmission cases per annum, worth almost £15 million annually for new hybrid vehicles initiating 2023. David Watson, Managing Director, said: “This is an exciting project which was won against stiff competition from across mainland Europe. Ryobi’s growing reputation in the development of new technically challenging products is what sealed this deal after a lengthy bidding process. This is testament to the knowledge, creativity and skill of our engineers and the confidence our customers have in us to deliver good...
According to the Shanghai Metals Market, A00 aluminium ingot price has extended the downfall, although slower than on December 21, to stand at RMB 16,350 per tonne, as of Tuesday, December 22. The price today has fallen by RMB 180 per tonne compared with the decline of RMB 430 per tonne on Monday. The average aluminium ingot prices are expected to range between RMB 16,330 per tonne and RMB 16,370 per tonne, with the spot contract to be traded at a premium price of RMB 220-240 per tonne, down by RMB 10 per tonne from the previous day. A00 aluminium ingot price in Linyi has seen the highest downfall of RMB 230 per tonne to RMB 16,350 per tonne, followed by the decline of RMB 200 per tonne in Foshan to RMB 16,460 per tonne on December 22. In Chongqing and Wuxi, A00 aluminium ingot price has...
Benchmark aluminium price on London Metal Exchange dropped 1.78 per cent to US$ 2012.5 per tonne on Monday, 21 December 2020, from US$ 2049 per tonne on Friday. As of Monday December 21, LME aluminium cash (bid) price stands at US$ 2012.50 per tonne, LME official settlement price stands at US$ 2012.50 per tonne; 3-months bid price stands at US$ 2023.50 per tonne, 3-months offer price is US$ 2023.50 per tonne; Dec 21 bid price stands at US$ 2038.50per tonne, and Dec 21 offer price stands at US$ 2038.50per tonne. The LME aluminium opening stock stood at 1390350 tonnes. Live Warrants totalled 1201500 tonnes, and Cancelled Warrants were 188850 tonnes. LME aluminium 3-months Asian Reference Price is hovering at US$ 2031.42per tonne. SHFE Aluminium Price Trend Benchmark aluminium price for SHFE...
Aluminium Bahrain B.S.C. (Alba), the world’s largest aluminium smelter (ex-China) with a production of more than 1.35 million tonnes per annum has bagged the much-coveted GCC Industrial Project of the Year in the 2020 edition of the MEED Projects Awards for its Line 6 expansion project. The MEED Projects Awards recognise the best projects in the GCC across various sectors and promotes best practices in project delivery and operations, as well as innovation and sustainability. The Line 6 Expansion Project of Alba has also been elected as National Winner for both Industrial Project of the Year and Mega Project of the Year Awards. Following a rigorous judging process based on a range of criteria including innovation, sustainability, design, and engineering among others, Alba’s Line 6...
