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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Benchmark aluminium price on London Metal Exchange edged up 0.35 per cent to US$ 2029 per tonne on Wednesday, 16 December 2020, from US$ 2022 per tonne on Tuesday. As of Wednesday December 16, LME aluminium cash (bid) price stands at US$ 2029 per tonne, LME official settlement price stands at US$ 2029 per tonne; 3-months bid price stands at US$ 2045.50 per tonne, 3-months offer price is US$ 2045.50 per tonne; Dec 21 bid price stands at US$ 2071.50 per tonne, and Dec 21 offer price stands at US$ 2071.50 per tonne. The LME aluminium opening stock stood at 1377225 tonnes. Live Warrants totalled 1191275 tonnes, and Cancelled Warrants were 185950 tonnes. LME aluminium 3-months Asian Reference Price is hovering at US$ 2033.94 per tonne. SHFE Aluminium Price Trend Benchmark aluminium price for...
The Canadian Technology company, ELYSIS, that has been delivering disruptive innovation for aluminium smelting is now a step closer towards commercialization of a process to produce carbon-free aluminium and it has reached another significant milestone with the accomplishment of construction of the Industrial Research and Development Center in Saguenay-Lac-Saint-Jean, Québec. ELYSIS, a joint venture by Alcoa and Rio Tinto, is scaling up a breakthrough technology that eliminates all direct greenhouse gases from the aluminium smelting process, instead of producing oxygen. Vincent Christ, CEO of ELYSIS, said: “We’re proud to have reached this milestone with completing the Industrial Research and Development Center, despite the challenges of 2020 with the global pandemic. Commissioning the...
Winterthur electricity network in Switzerland replaces its copper lines by aluminium, which will support the city to save 80,000 francs a year. The Winterthur electricity will no longer flow through copper cables in the future, whereas it will be conducted over aluminium cables. However, aluminium has a strikingly lower conductivity than copper, while this can be counterbalanced by thicker cables. As per the report, Winterthur city considers the environmental impact of the two materials is comparable and the crucial factor was the price. Aluminium as a metal is around 40% economical than copper. The transformation from copper to aluminium should be on a process with around 3.5 kilometres of cables are replaced every year. The savings will not have any effect on the electricity tariff, as...
The United States aluminium scrap exports to the Republic of Korea increased marginally in September 2020 by 400 tonnes month-on-month to stand at 24,200 tonnes, found the US Geological data. In August, the United States aluminium scrap exports to Korea were at 23,800 tonnes dwindling by 800 tonnes from 24,600 tonnes in July. This shows the US aluminium scrap exports to the Republic of Korea maintained a stable trend through the three months of Q3 2020. The total aluminium scrap exports from the US to Korea in the third quarter of 2020 came in at 72,600 tonnes, up by 4,000 tonnes from 68,000 tonnes in Q2 2020. In the first nine months of 2020, the United States exported 214,000 tonnes of aluminium scrap to the Republic of Korea as against 203,000 tonnes during the same period last year....
ASX-listed high-grade bauxite developer Lindian Resources has reportedly received a nod from the Guinea Ministry of Mines to acquire a 61 per cent stake in the strategic Woula bauxite project. Lindian sees Woula as a potential bauxite producer given its direct shipping ore capability and the close proximity to the mature Guinea bauxite industry’s transport and export infrastructure. According to the terms of transaction to the value of about $400,000, Lindian Resources can increase its stake to 75 per cent by funding a JORC-compliant scoping study or feasibility study on the project within 18 months. The company is expected to start work on either the scoping study or feasibility study during the March quarter of 2021. Lindian is willing to evaluate various infrastructure and production...
The Bahamas has a general market economy that is hugely dependent on tourism and international financial services. The nation is considered the wealthiest Caribbean country in terms of GDP per capita. According to the updated IMF forecasts from 14th April 2020, due to the Covid-19 pandemic, GDP growth is expected to fall to -8.3% in 2020 and pick up to 6.7% in 2021, subject to the post-pandemic global economic recovery. The Caribbean nation’s import of aluminium cans during 2018-19 was recorded at 57,041 tonnes and the revenue expended for the import remained at $7.69 million. The import for 2020 is marked to be reaching at 20,283 tonnes and the expenditure to stand at $2.84 million. However, when the import and expenditure for 2020 get assorted with the preceding two years, it signifies...
A00 aluminium ingot price has recorded an increase of RMB 110 per tonne after two consecutive days of downfall to stand at RMB 16,650 per tonne, as of Wednesday, December 16, according to the Shanghai Metals Market. The average prices are expected to range between RMB 16,630 per tonne and RMB 16,670 per tonne, with the spot contract to be traded at a premium price of RMB 240-280 per tonne, up by RMB 230 per tonne from the previous day. In Gongyi, A00 aluminium ingot price has grown the highest by RMB 130 per tonne to come in at RMB 16,450 per tonne, followed by a hike of RMB 120 per tonne in Foshan and Wuxi to RMB 16,770 per tonne and RMB 16,660 per tonne, respectively. In Hangzhou, Chongqing, and Tianjin, the primary aluminium ingot price has climbed by RMB 100 per tonne to stand at RMB...
The LME complex rose broadly on Tuesday but aluminium shed 0.98 per cent. Benchmark aluminium price on the London Metal Exchange decreased 1 per cent to US$ 2022 per tonne, as of Tuesday, December 15. Both LME aluminium cash (bid) price and LME official settlement price relapsed to US$ 2022 per tonne on December 15, from US$ 2042.50 per tonne on December 14. 3-months bid price and 3-months offer price stood at US$ 2038 per tonne, down by US$ 16 per tonne from US$ 2054 per tonne. Dec 21 bid price and Dec 21 offer price came in at US$ 2067 per tonne. The LME aluminium opening stock remained almost restrained at 1357375 tonnes on December 15. Live Warrants stood at 1175000 tonnes, while Cancelled Warrants at 182375 tonnes. LME aluminium 3-months Asian Reference Price stood at US$ 2037per...
Bosnian and Herzegovinian aluminium producer Aluminij signed a five-year contract with Glencore, the British-Swiss company for the supply of aluminium billets. The synergy between Aluminij and Glencore is consequential for both companies, as their alliance goes back long before last year's suspension of Aluminij's operations. However, details about the financial aspects of the deal or the agreed volume of aluminium billets are yet to be disclosed. The troubled Aluminij resumed production last month, following a 15-month halt and the credit goes to the agreement with an Israeli-Chinese tie-up. Aluminij Industries d.o.o., the newly established Bosnian subsidiary of Israel's M.T. Abraham Group and its partners, China Machinery Engineering Corporation (CMEC) and China Nonferrous Metal...
National Aluminium Company Limited’s (NALCO) aluminium wire rod price rebounded to INR 177,250-181,600 per tonne with effect from Tuesday, December 15, following a downfall on December 11 to INR 174,750-179,100 per tonne. This shows the price of NALCO’s aluminium wire rod increased by INR 2,500 per tonne or 1.43 per cent on December 15. NALCO’s aluminium billets price came in at INR 177,200-179,850 per tonne, also up by INR 2,500 per tonne from INR 174,700- 177,350 per tonne. With the latest hike, NALCO’s aluminium ingot price is now standing at INR 173,750–177,250 per tonne versus INR 171,250- 174,750 per tonne last week. NALCO, like any other Indian aluminium producers, links its aluminium product and aluminium ingot prices to the three-month futures of aluminium on the London Metal...
ALUMIL, one of the largest industries in the extrusion of aluminium in Greece, considers that the environmental protection is not just a side project on the annual plan, but it is at the core of organisation’s strategy for the next decade. For more than 30 years, the aluminium company has developed innovative products that stand out in the global market. The superior quality architectural aluminium systems are the result of technological expertise; however, most of it is manufactured in a cyclical production model, which is in line with the principles of the company’s sustainable business plan. The primary intention of Alumil is to minimize carbon footprint. Consequently, they have invested €2.8 million in a new aluminium scrap separation unit which was recently installed in their...
King River Resources selected the Kwinana Industrial Area as the preferred site for its planned production project of High Purity Alumina (HPA) following the discussion with the Western Australian Government. The exploration mining company in November’20 decided to modify its planned production of HPA facility from the Speewah speciality metals project south of Kununurra in the Kimberley to an industrial site using the company’s HPA project on aluminium chemical feedstock from other industrial processes. The company confirmed the Kwinana industrial site after considering other industrial sites in WA and Queensland King River detailed Kwinana as WA’s foremost industrial area as it is well catered by transport links and with deep-water bulk port facilities, freight routes and a heavy rail...
China’s aluminium extrusion producers operating rates increased marginally month-on-month to 63.10 per cent in November 2020, while operating rates at industrial extrusion producers grew 2.98 percentage points to 69.68 per cent but fell at construction extrusion producers slightly to 61.84 per cent. At large aluminium extrusion producers, operating rates increased slightly due to moderate orders, while at smaller producers, operating rates weakened due to depressed cash flows and lower orders. Operating rates and demand for aluminium extrusion were lower than those in south China. In Henan and Shandong, many aluminium extrusion producers reduced output by about 50 per cent due to environmental restrictions, while some even halted. Operating rates at industrial extrusion increased with the...
Data from the National Bureau of Statistics (NBS) showed China’s primary aluminium production in November grew 8.7 per cent year-on-year to 3.18 million tonnes, with daily output hit a record high. Despite a month-on-month downfall of 0.6 per cent in production from October's 3.2 million tonnes, November’s daily output stood at 106,000 tonnes outperforming September’s record of 105,433 tonnes. The hike in production could be attributed to new smelting capacities came online to take advantage of strong demand and high prices in the market. Aluminium prices in China surged 15 per cent in November before striking a nine-year high of RMB 16,925 per tonne on December 2 amid the low input costs. This led to a strong profit margin encouraging smelters to churn out as much metal as possible....
Iceland is considered as a stable democracy with an active consumer economy. The pillars of the Icelandic economy are aluminium smelting, fishing, and tourism and the major material exports are aluminium products and fish products, and main service exports are tourism-related services. The Nordic island nation’s export of aluminium scrap during 2018-19 was accounted at 11,006 tonnes and the revenue earnings stood at $7.85 million. The export for 2020 is marked at 5910 tonnes and the earnings to stand at $3.93 million. However, when the export volume and earnings of 2020 get added with the existing two years, it denotes 16,916 tonnes and $11.78 million respectively. Iceland’s export of aluminium scrap in 2018 was recorded at 5273 tonnes and the earnings remained at $3.60 million, whereas...
Aluminium Stewardship Initiative has reportedly welcomed Mineração Rio do Norte – MRN as a new Production & Transformation member, bringing the total number of ASI Members to 147. Mineração Rio do Norte, the largest Brazilian bauxite producer, was formed by an association of domestic and foreign companies that has been in operation since 1979 in the Amazon, the western region of Pará state. The core business of Mineração Rio do Norte is to lift, beneficiate, and sell bauxite, ensuring safety, health, and sustainability. The main goal of Mineração Rio do Norte is to produce and supply bauxite in compliance with quality specifications and maintaining customer satisfaction and return of investment for the shareholders. Guido Germani, MRN CEO, said: “Seeking the ASI (Aluminum Stewardship...
The Tilburg based start-up of Pyke is the next company to bring a freshly brewed hard seltzer to the market, which introduces a new flavour experience in this fast-growing category. Anne Koren, Chief Communications Officer at Pyke, said: “Our product is the right choice for young people between the ages of 18 and 35 with a 'work hard, play hard' mindset looking for authentic products and brands.” Pyke has a unique flavour profile compared to other hard seltzers because it is not mixed with a distillate. It originated from a traditional brewing process of several weeks using real champagne yeast, which gives it its own brewed character. Hard seltzers have the fewest calories of all alcoholic drinks and this makes it especially appealing to health-conscious millennial and the so-called...
According to the Shanghai Metals Market, A00 aluminium ingot price has decreased for the second day in a row by RMB 110 per tonne to stand at RMB 16,540 per tonne, as of Tuesday, May 15. The average prices are expected to range between RMB 16,520 per tonne and RMB 16,560 per tonne, with spot contract to be traded at a premium price of RMB 10-50 per tonne, down by RMB 20 per tonne from the previous day. In Gongyi and Linyi, A00 aluminium ingot price has declined by RMB 130 per tonne to peg at RMB 16,320 per tonne and RMB 16,490 per tonne, respectively, found SMM. In Chongqing, Shenyang, and Wuxi, primary aluminium ingot price has plunged by RMB 125 per tonne, RMB 120 per tonne, and RMB 115 per tonne, respectively, to hover at RMB 16,540 per tonne. The price in Hangzhou and Tianjin is also...
