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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Nestlé Malaysia has introduced 100% local nursery coffee known as NESCAFÉ Classic Kopi Kedah which is available in the market starting from earlier this month. Juan Aranols, CEO, Nestlé Malaysia Bhd, said: “NESCAFÉ Classic Kopi Kedah! Inspired by the NESCAFÉ Grown Respectfully program (NESCAFÉ Sown with love), a sustainable coffee plantation initiative launched last year in Kedah.” "NESCAFÉ Classic Kopi Kedah limited edition is available in 170-gram aluminium cans and sold at a retail price of RM23.02 at selected local supermarkets and mini markets such as MYDIN, Billion, EconSave and 99Speedmart from December 1," he said. According to him, the coffee beans used in NESCAFÉ Classic Kopi Kedah are sewn with love and carefully selected before being roasted until perfect and ground into fine...
The recycling rate for aluminium beverage cans in the European Union, Switzerland, Norway, and Iceland increased by more than 2 per cent from 74.5 per cent in 2017 to 76.1 per cent in 2018, showed the latest data from European Aluminium and Metal Packaging Europe. The total amount of aluminium recycled in the said year rose by 37,000 tonnes to an impressive 457,000, representing a total greenhouse gas (GHG) emissions savings of 3.7 million tonnes of CO2. This is equivalent to the amount of GHG emissions of a mid-size European town with 400,000 inhabitants. Both can manufacturers and their aluminium suppliers are happy with the recycling rate and believe that this can increase further in the future with more optimisation of separate packaging collection systems in Europe and by...
According to a recent report, around 400 United Steel Workers are on strike at Constellium SE’s aluminium factory in Muscle Shoals, Alabama, due to unfair labour practices and unfulfilled health care policies. The news came after Tom Conway, the United Steel Workers president, said in a telephonic interview: “They’re going on strike, the company has got health care demands on the table and all sorts of rollbacks. Most of those jobs have been decent jobs for a long time and this company is doing OK; there’s no need for what they’re asking for.” Conway also said that the strike would continue until Constellium and the Union came on common terms. Constellium Alabama aluminium plant in Muscle Shoals, with more than 1200 employees, produces can sheet for the packaging industry, particularly...
Switzerland is facing an unusual economic downturn. Globally most of the governments countered COVID-19 pandemic by imposing major restrictions on their societies and economies, prompting a significant plunge in global trade and the demand for Swiss exports. The Swiss government also restricted much of public life in the country, with a considerable impact on the domestic economy. The Swiss State Secretariat for Economic Affairs (SECO) analysed that manufacturing output will fall by around 25% of total economic added value compared to 2019. The Central European nation’s export of aluminium tubes and pipes during 2018-19 was recorded at 7463 tonnes and the earnings remained at $27.88 million. The export for 2020 will remain at 2770 tonnes and the earnings to stand at $15.31 million....
A00 aluminium ingot price has soared by RMB 230 per tonne to stand at RMB 16,960 per tonne on Friday, December 18, according to the Shanghai Metals Market. The continuous rise in domestic primary aluminium demand amid limited stocks at warehouses has contributed to the third consecutive day of A00 aluminium ingot price growth. The average prices today are expected to range between RMB 16,940 per tonne and RMB 16,980 per tonne, with the spot contract to be traded at a premium price of RMB 230-270 per tonne, down by RMB 20 per tonne from December 17. In Chongqing, primary aluminium ingot price has recorded the highest growth of RMB 235 per tonne to stand at RMB 16,950 per tonne, followed by an increase of RMB 225 per tonne in Shenyang to RMB 16,915 per tonne. In Foshan and Hangzhou, A00...
Hero MotoCorp, the Indian multinational motorcycle and scooter manufacturer based in New Delhi and also the largest two-wheeler manufacturer in the world and also in India is going for a price hike for its vehicles from January 2021 in India. The decision came in the public forum by the means of a regulatory filing with BSE Limited, has been taken given the rising input costs. The two-wheeler manufacturer with a market share of about 46% detailed that the rise in costs of commodities including aluminium components has increased manufacturing costs. However, the manufacturer has already taken other measures as well to control the impact, a price hike is still necessary to at least somewhat dampen the impact of an increase in commodity costs. Hero two-wheeler' prices in India will go up by...
Benchmark aluminium price on the London Metal Exchange dipped to US$ 2028 per tonne on Thursday, December 17, 2020, from US$ 2029 per tonne on Wednesday. Both LME aluminium cash (bid) price and LME official settlement price dipped marginally by US$ 1 per tonne to stand at US$ 2028 per tonne on Thursday, December 17. 3-months bid price and 3-months offer price stood at US$ 2041 per tonne, down by US$ 4.5 per tonne from US$ 2045.50 per tonne. Dec 21 bid price and Dec 21 offer price came in at US$ 2064 per tonne decreasing by US$ 7.50 per tonne from that in December 16. The LME aluminium opening stock plunged to 1371300 tonnes on December 17. Live Warrants stood at 1189275 tonnes, while Cancelled Warrants at 182025 tonnes. LME aluminium 3-months Asian Reference Price stood at US$ 2049.50 per...
Rio Tinto, the industry leader in responsible aluminium production, with operations in Canada which runs on 100% renewable hydropower, is investing US $8.4 million to expand the recycling capacity of its aluminium operations in Saguenay- Lac-Saint-Jean, Quebec, to offer rolled product customers in North America a new, sustainable solution combining low-carbon and recycled aluminium. A new remelt furnace will be added at the Laterrière Plant’s casting centre to recycle aluminium cuttings from Rio Tinto’s operations and rolling mill customers in manufacturing sectors, producing rolling ingots for the automotive and packaging industries. The new aluminium recycling system is expected to be operational by the end of 2021, with an initial production capacity of 22,000 tonnes of remelted...
As updated by Shanghai Metals Market, social inventories of primary aluminium across eight consumption areas in China, including SHFE warrants, continued to reduce this week. Inventories stood 589,000 tonnes as of Thursday, 17 December 2020, a drop of 7,000 tonnes from a week ago. The chart below shows the current status of the primary aluminium inventories across China in more details: Primary aluminium stocks in Wuxi and Tianjin increased by 5,000 tonnes and 1,000 tonnes from a week ago to 178,000 tonnes and 46,000 tonnes as of Thursday, 17 December 2020. Inventories in Gongyi, Chongqing and Linyi remained unchanged at 66,000 tonnes, 2,000 tonnes and 5,000 tonnes. Inventories of aluminium in Shanghai, Nanhai and Hangzhou stood at 91,000 tonnes, 130,000 tonnes and 71,000 tonnes. That was...
According to Shanghai Metals Market, stocks of 6063 aluminium billet across five major consumption areas in China rose this week due to increased arrivals. The inventories rose by 2,700 tonnes from a week ago to 73,000 tonnes as of Thursday, 17 December 2020. The chart below indicates the current status of aluminium billet inventories across China in more details: Inventories of aluminium billets in Foshan climbed by 7,100 tonnes week-on-week to 28,600 tonnes on Thursday, 17 December 2020. But the stocks in Wuxi, Huzhou, Changzhou and Nanchang all fell. In Wuxi and Huzhou, the inventories stood at 16,900 tonnes and 10,000 tonnes, down 100 tonnes and 1,000 tonnes from Thursday’s stocks of 17,000 tonnes and 11,000 tonnes. The stocks in Changzhou and Nanchang fell by 1,900 tonnes and 1,400...
The Anglo-Australian multinational and the world's second-largest metals and mining corporation, Rio Tinto has appointed Jakob Stausholm as chief executive, effective 1 January 2021. In 2018, Mr Stausholm joined Rio Tinto as an Executive Director and Chief Financial Officer and since then he has played a leading role in the Group’s strong performance, maintaining capital allocation discipline and delivering significant shareholder returns, while strengthening the balance sheet. Jakob Stausholm, an experienced global executive, with 25 years in leadership roles in capital intensive and service industries across Europe, Latin America and Asia-Pacific. Before joining at Rio Tinto, he was Group Chief Financial Officer and Strategy & Transformation Officer of A.P. Moeller – Maersk A/S....
The United Arab Emirates exports of crude metals and alloys to the US stood at 31,800 tonnes in September 2020, an increase of 75% s year-on-year. The UAE had exported 18,200 tonnes to the US in September 2019, according to the latest Mineral Industry Survey report from the US Geological Survey. On a month on month comparison, exports dropped by 6% from 33,700 tonnes. Compared with July, the UAE’s exports of crude metal and alloys to the US edged up by 333% from 7,350 tonnes. In the first nine months of 2020, the UAE’s exported 250,000 tonnes of crude metals and alloys to the US from 321,000 tonnes exported in the first nine months of 2019. Exports stood 22% lower year-on-year. The UAE’s exports to the US came in at 32,000 tonnes of total aluminium in September 2020, from 18,300 tonnes in...
Rusal, a leading global aluminium producer, will supply primary foundry aluminium alloys to Hyundai Sungwoo Holdings Co, Ltd. for car wheels manufacture. Such was the news when Rusal announced that it's chosen by Hyundai as a preferred long-term sustainable foundry aluminium alloys supplier. Rusal is known for producing and suppling foundry aluminium alloys for automotive industry worldwide. Aluminium alloy wheels are now the latest trend in the market for reducing car weight whilst remaining robust and improving fuel efficiency. The new partnership with Hyundai Sungwoo for aluminium alloys supply will strengthen Rusal's position in South Korea, with an opportunity to boost sales in China. Rusal smelters produce a wide range of primary foundry alloys in accordance with the highest world...
Peru’s mining-driven economy, one of the hardest-hit by the coronavirus pandemic, is expected to contract 12% in 2020, the deepest plunge in three decades. The country hasn’t seen such a hit since a 12.3% contraction in 1989, said Marţa Antonieta Alva, Minister of Economy and Finance. The Andean country’s import of aluminium household articles during 2018-19 was recorded at 1605 tonnes and the expenditure stood at 48.60 million. The import for 2020 is marked to remain at 2931 tonnes and the expenditure to sand at $11.86 million. However, when the import volume and expenditure for the import of 2020 gets footed by the existing two years, it denotes 4536 tonnes and $20.46 million respectively. Peru’s import of aluminium household articles in 2018 remained at 477 tonnes only and the...
The contended bauxite mining issue returns in the prominence with condemnation forthcoming to over the fresh bids to consider operationalizing the Anrak Alumina Refinery in Visakhapatnam district of Andhra Pradesh. Anrak Aluminium Limited, a company floated by Ras-al-Khaimah and Penna Group in 2013 built the alumina refinery, with an investment of approximately INR 6000 crore. However, AAL could not initiate operations following the cancellation of bauxite supply agreement by Andhra Pradesh Mineral Development Corporation (APMDC), as the present state government declared it was against bauxite mining in the marked areas respecting sentiments of inhabitants, who had opposed intensely saying it would devastate their livelihood and environment in the region. The Indian state-run Aluminium...
Italian craft brewer Baladin has launched Italian organic beer "Nazionale" in cans from Crown Bevcan Europe & Middle East. The company has introduced new range to celebrate the opening of the world’s first green retail park in Turin, Italy. Teo Musso, Founder of Baladin, commented: “In the midst of climate change and with a consumer demographic that is increasingly aware of the importance of living as sustainable as possible, there has never been a more important time to engage with partners such as Crown and Green Pea. Our new 100% Italian organic beer was only ever destined for the metal packaging option – easy to understand why, given the strong sustainability credentials of the format.” The design features a white background and a single green pea above the Baladin logo. The can...
DECO Australia, a leading producer of aluminium building products and finishes, has reportedly opened a brand new display centre to offer an informative, interactive, and inspirational space for architects, builders, and homeowners. The DECO Innovation Centre in Minto, New South Wales, allows visitors to experience DECO’s extensive product range in full scale and real-life applications. “From the anodised chevron feature façade to the architectural shade sails and grand canopy entrance, we wanted to highlight that with some imaginative design, DECO’s innovative products and finishes are not just for everyday projects, but can be used to create architectural masterpieces,” lead architect and ClarkeHopkinsClarke partner, Jordan Curran explained. The outside terrace at the centre showcases...
According to the Shanghai Metals Market, A00 aluminium ingot price has extended growth for the second consecutive day by RMB 80 per tonne on Thursday, December 17, to stand at RMB 16,730 per tonne. The average prices are expected to range between RMB 16,710 per tonne and RMB 16,750 per tonne, with the spot contract to be traded at a premium price of RMB 250-290 per tonne. In Hangzhou and Linyi, A00 aluminium ingot price has expanded by RMB 100 per tonne to come in at RMB 16,740 per tonne and RMB 16,690 per tonne, respectively, while that in Wuxi has increased by RMB 90 per tonne to stand at RMB 16,750 per tonne. In Gongyi, Foshan, and Shenyang, A00 aluminium ingot price has hiked by RMB 80 per tonne to RMB 16,530 per tonne, RMB 16,850 per tonne, and RMB 16,690 per tonne. In Chongqing, the...
