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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One of India’s fastest-growing manufacturing start-ups, Runaya, made public on 21 st December that it has been conferred with the Global WasteMet Award by the Energy and Environment Foundation. The company own the award under the prestigious ‘Platinum’ category for its success in setting up an integrated environmental project to process aluminium dross and convert it to value-added products. Runaya uses ZERO WASTE dross processing technology patented by Bahraini company, TAHA International Corporation. Runaya won the award as a tribute to its contribution in bringing about a quantum leap in processing aluminium dross with a positive impact on the environment and helping to improve resource management. The Runaya aluminium dross recycling project has reached its final stage of operation in...
The Chairman of Pakistan Electric Fan Manufacturers Association (PEFMA), Fahad Rafiq, pointed out on Friday, December 18, that manufacturers of fans, utensils, electrical wires, car parts, kitchenware, die casting, machining, and aluminium window frames had been facing shortages of aluminium and copper due to a sudden spike in exports of these materials, resulting in scarce supply and price surge in the domestic market. The association noted that copper scrap export still has a 25 per cent Regulatory Duty (RD), but there is none on the export of aluminium ingots and scrap. In response to this, the advisor to the Prime Minister on Commerce and Investment, Abdur Razak Dawood, assured the representatives of PEFMA that problems being faced would be examined and resolved. He advised the...
Alkaline water brand Perfect Hydration (pH) will be launched in recycled polyethylene terephthalate (rPET) bottles and aluminium cans in the first quarter in 2021. The brand, which will include a new message and graphic, will spend in a digital media, social media advertising, community engagement, and shopper marketing programming to make consumers aware of the launch of the rPET bottles and aluminium cans. "Simply put, consumers can't get ultra-purified 9.5+ pH alkaline water with electrolytes from their faucets," said Louisa Lawless, Chief Strategy Officer of Stratus Group. "Perfect Hydration has to be packaged for consumption. However, we have worked intently to optimize our supply chains and packaging to be more sustainable, keeping bottles out of oceans and landfills and reducing...
The government of the Indian State Andhra Pradesh is wholly prepared to permit Anrak Aluminium Limited to commission its alumina refinery at Rachapalli, Makavarapalem in Visakhapatnam. V Vijaysai Reddy, MP, North Andhra Pradesh affairs, said: “The government has been planning to allow Anrak Aluminium Ltd to commission their refinery since it has invested around INR 6,000 crore and promised jobs to the local youth.” "But we will not allow mining of Bauxite in Visakhapatnam. The company has to import from outside or source it from Odisha.” He has assured the natives that mining of Bauxite has been stopped for good. K Bhagyalakshmi, MLA said: “The natives will not have any objection if the plant operates in the non-tribal area far from the agency tracts. As long as they do not mine in the...
Vimetco Extrusion has joined the Aluminium Stewardship Initiative as a new Industrial User Member, bringing the total number of ASI members to 150. The news came after ASI announced that it officially welcomed Vimetco as a new member on December 18. ALRO’s downstream subsidiary Vimetco Extrusion is Romania’s largest aluminium extruder and also a leading one in entire Europe. Vimetco Extrusion offers aluminium extrusion products in a wide array of shapes and dimensions requested by customers for different industries and purposes. Vimetco Extrusion is recognised as a preferred strategic partner of innovative and engineered aluminium profile solutions, owing to its ability to offer unique and flexible solutions. It is known for supplying customer specified aluminium profiles and products,...
The economy of Serbia stands as a mixed economic system in which the presence of the state in the economy is considerable, but the freedom for the private sector is limited. The World Bank labels Serbia as a middle-income country and its economy is transitioning from being dominated by the state sector to a market-driven model. The strongest sectors of Serbia's economy are energy, automotive industry, machinery, mining, and agriculture. “Serbia will be the only economy in Central and Eastern Europe (CEE) that will fully recover from the coronavirus crisis next year”, as per Erste research report. The landlocked European nation’s import of aluminium foil during 2018-19 was recorded at 25,557 and the revenue expended for the import stood at $121.46 million. The import for 2020 is marked...
The LME complex ended mixed on last Friday, with aluminium fell 0.56 per cent. Benchmark aluminium price on the London Metal Exchange closed the week with an increase of 1.04 per cent to stand at US$ 2049 per tonne. Both LME aluminium cash (bid) price and LME official settlement price soared by US$ 21 per tonne on Friday, December 18, to peg at US$ 2049 per tonne. 3-months bid price and 3-months offer price stood at US$ 2059 per tonne growing by US$ 18 per tonne from US$ 2041 per tonne on December 17. Dec 21 bid price and Dec 21 offer price came in at US$ 2074 per tonne, up by US$ 10 per tonne from the previous day. The LME aluminium opening stock further decreased to 1367025 tonnes on Friday, December 18. Live Warrants hovered at 1180375 tonnes, while Cancelled Warrants at 186650 tonnes....
Alcoa Corporation will stop its curtailment plans for its San Ciprián aluminium smelter in Spain while after High Court of Justice of Galicia declared the collective dismissal process “null and void.” In October, the company announced it will cut the smelter’s 228,000 tons of annual capacity and proceed with the collective dismissal of employees after completing four months of consultations. The workers’ representatives filed a lawsuit with the Court, which ruled in favour of the workers on December 17, 2020. As a result, Alcoa will not incur the expected charge of $35 million to $40 million for employee-related costs in the fourth quarter. The company will now expect a negative impact on income before income taxes of approximately $10 million in Q4 due to a related labor strike at both...
SMM aluminium ingot price marks a drop of RMB 430 per tonne after three days of rise. The price now stands at RMB 16530 per tonne on Monday, December 21, 2020 from Friday’s price of RMB 16960 per tonne. The price and is expected to move within a range of RMB 16510-16550 per tonne. In Foshan and Wuxi, the price has inched down by RMB 410 per tonne and RMB 430 per tonne to stand at RMB 16660 per tonne and RMB 16530 per tonne. Aluminium prices in Hangzhou and Chongqing have come in at RMB 16530 per tonne and 16525 per tonne, down RMB 430 per tonne and RMB 425 per tonne. Aluminium ingot prices in Shenyang, Tianjin, Linyi, and Gongyi have declined to stand at RMB 16520 per tonne, RMB 16520 per tonne, RMB 16580 per tonne, and RMB 16320 per tonne. The aluminium alloy (ADC12) price stands at RMB...
A recent study - Roadmap for Electrification of Urban Freight in India found that there could be a 14 per cent reduction in CO2 emissions in India’s small commercial vehicle segment with higher electric vehicle sales by 2030. The study assessed the operational and financial feasibility of electric vehicles in India’s urban freight (UF) segment by undertaking a survey-based analysis of five sectors in Delhi, Bengaluru, and Surat. The Energy and Resources Institute (TERI) released the study in association with Shakti Sustainable Energy Foundation (SSEF). It came up with various recommendations such as setting up a nationwide vehicle scrappage policy programme, with a focus on electric vehicle replacement. The study also encouraged a countrywide national programme for electrification of...
A South African born, designed the Aquatecture rain-harvesting panels that equip people to catch water at drought-stricken areas. The rain harvesting panel collects water by diverting raindrops flowing over the perforations on the surface to the inside of the system. Now, from there the water drizzles down into a collection tank where it can either be stored for later use or can be pumped back into a building’s greywater system. Presently, the panel is also being developed to harvest moisture from the atmosphere. Aquatecture is the brainchild of South African born designer Shaakira Jassat. Although she lives in the Netherlands now, Jassat witnessed Cape Town’s devastating drought when she attended the Cape Town Design Indaba as a speaker in 2018. She was determined to design a rain...
The world's leading producer of low carbon aluminium and largest private sector generator of hydropower, EN+ Group, highlighted the response published last week by the London Metal Exchange (LME) towards industry feedback on its sustainability discussion paper that En+ counts do not address the industry's concerns. En+ believes the LME's announced plans acts for a lost opportunity to drive industry-wide meaningful change as the world looks to 'build back better' from the impact of the global COVID-19 pandemic in 2021. Lord Barker, Executive Chairman of En+ Group, said: "We warmly welcome this long-overdue first step by the LME into the low carbon age but it doesn't go far enough. London should lead global Green commerce and trading; timid actions don't cut it. So, we will be looking for...
Aluminium specialist, MQP’s parent company has more than doubled the size of its plant to produce more of its high-efficiency grain refiner and raise the bar in manufacturing worldwide. The expansion of STNM’s state-of-the-art plant in Baoding, China, means MQP can now produce up to 39,000 tons a year of Optifine – which can improve melt quality by up to 70% and reduce casthouse costs by a half – an increase of 23,000 tons. STNM is one of the largest producers of master alloys in the world and now one of the biggest Al-Ti-B grain refiner production plants. Richard Courtenay, CEO said: “Demand for lightweight vehicles is a major factor behind aluminium market growth right now. However, the industry-wide problem of inconsistency in the efficiency of grain refiner on a global scale has...
National Aluminium Company Limited (NALCO) has reduced the prices of its aluminium ingot and aluminium products with effect from Friday, December 18, after an interim hike on December 15. With the latest cut, NALCO’s aluminium ingot price has come in at INR 172,350-175,850 per tonne, down by INR 1400 per tonne or per cent from INR 173,750–177,250 per tonne on December 15. NALCO’s aluminium wire rod price has also been cut by INR 1400 per tonne from INR 177,250-181,600 per tonne on December 15 to INR 175,850-180,200 per tonne on December 18. NALCO’s aluminium billets price is standing at INR 175,800- 178,450 per tonne as against INR 177,200-179,850 per tonne on December 15. NALCO, like any other Indian aluminium producers, links its aluminium product and aluminium ingot prices to the...
Benchmark aluminium price on the London Metal Exchange rose by US$ 6.5 per tonne over the week to settle at US$ 2049 per tonne, as of Friday, December 18. Both LME aluminium cash (bid) price and LME official settlement price edged higher this week during December 14-18 after swinging between US$ 2042.50 per tonne and US$ 2049 per tonne. Starting the week on Monday, December 14, at US$ 2042.50 per tonne, the prices shrank to US$ 2022 per tonne on Tuesday, December 15. On Wednesday, December 16, both LME aluminium cash (bid) price and LME official settlement price increased to US$ 2029 per tonne but then dipped by US$ 1 per tonne to US$ 2028 per tonne on Thursday, December 17. To end the week on a bullish note, the prices settled higher at US$ 2049 per tonne. So, over the week, LME...
On 18 th December’20, Harsco Corporation announced that its subsidiary ALTEK is now able to deliver end-to-end dross processing and environmental solutions to enable the global aluminium industry to maximize aluminium recoveries and achieve zero waste. Harsco acquired U.K.-based ALTEK in May 2018, a leading supplier of innovative process technology to the worldwide aluminium industry, to expand the metal recovery by-product reuse capabilities of its environmental division, Harsco Environmental (HE), into the aluminium industry. ALTEK has active equipment in over 600 locations around the world and works with customers, supplying knowledge and technology to improve operating efficiencies and productivity, reduce waste generation, and manage and extract value from waste streams. Presently,...
Queensland Alumina Limited (QAL) has been fined $500,000 by Gladstone Magistrates Court for the chemical spill incident in September 2018, resulting in serious environmental harm and violating Environmental Authority (EA) rule. This is one of the largest environmental fines in Queensland charged after QAL pleaded guilty. Over two years ago, an over-pressure safety system, opened during unplanned maintenance, released up to 3 tonnes of alkali bauxite slurry into the atmosphere causing damages to homes and cars in the coastal industrial suburb of South Trees in Gladstone. Alkali bauxite slurry is a chemical formed during the process of creating alumina. According to prosecutor Deborah Holiday QC, this incident was due to the error committed by untrained operators, as neither the...
On 15 th December’20, The Economic Times in a virtual ceremony have recognised Mr Abhijit Pati, CEO and Director of BALCO as ‘Most Promising Business Leaders of Asia 2020-21. This award recognizes eminent business leaders who are poised to make a significant impact in shaping the business demographics of not just their country but also beyond. Mr Pati with an illustrious career spanning over 30 years in the Aluminium Industry has served in several leadership profiles delivering exponential growth. Under his leadership, BALCO continues to deliver excellence. He is passionate about new ideas, innovation, safety, sustainability, and digitalization across the entire value chain. He is also a visionary in the areas of corporate social responsibility and diversity & inclusion. Mr Abhijit Pati,...
