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 9 th December ‘20, the Board of Directors of the International Monetary Fund (IMF) approved a disbursement of $ 49.47 million for Guinea as part of the aid to the nation facing the difficulties of stabilizing their balance of payments. The government of Guinea has praised the continuation of the program so vital for the economic survival of Guinea, especially in these difficult times of pandemic. However, the IMF wonders about the disconnect between mining production and tax revenues in Guinea, as the country receives most of its income in foreign currency due to the export of bauxite, whose figures have risen in recent years making it the second-largest exporter of bauxite in the world just behind Australia. As per the IMF report: “While the overall growth has been supported by a...
The LME complex ended higher on Monday, December 14, with aluminium advanced 0.76 per cent. Benchmark aluminium price on the London Metal Exchange surged 1.01 per cent to US$ 2042.50 per tonne, as of Monday. Both LME aluminium cash (bid) price and LME official settlement price soared by US$ 20.5 per tonne to stand at US$ 2042.50 per tonne on Monday, December 14. 3-months bid price and 3-months offer price stood at US$ 2054 per tonne, up by US$ 19.50 per tonne from US$ 2034.50 per tonne to US$ 2054 per tonne. Dec 21 bid price and Dec 21 offer price came in at US$ 2082.50 per tonne. The LME aluminium opening stock jumped from 1329600 tonnes to 1357650 tonnes on December 14. Live Warrants stood at 1177525 tonnes, while Cancelled Warrants at 180125 tonnes. LME aluminium 3-months Asian...
On 12 th December, Naveen Patnaik, Chief Minister of India’s eastern state Odisha announced that the state government is dedicated creating a favourable environment for the promotion of industries in the state and eyeing on the implementation of new projects. Odisha has developed an online system for over 30 government-to-business (G2B) services to reduce the regulatory burden on industries, Patnaik said. “Odisha is concentrating on technological reforms to reduce physical interface in extending government services.” “The state has been creating a conducive business environment by inculcating professionalism and behavioural change in the agencies,” he said. The Chief Minister, while addressing the FICCI’s 93rd Annual General Meeting, said: “The state is fast emerging as the manufacturing...
According to the latest data shared by the Iranian Mines and Mining Industries Development and Renovation Organisation (IMIDRO), aluminium ingot production in Iran rose by 52.2 per cent year-on-year during March-November 2020 to stand at 271,300 tonnes. By the end of the current Iranian calendar year (March 20, 2021), Iran’s aluminium ingot output is expected to increase by 63 per cent. Iran’s major aluminium producers produced 275,716 tonnes of aluminium ingots in the past year ended on March 19, 2020, according to IMIDRO. The production fell by 8 per cent in comparison to the same period of the previous year. IMIDRO also showed that Iran’s top aluminium ingot producer Iranian Aluminum Company (IRALCO) had the best performance registering a 4 per cent hike during the mentioned period. On...
The COVID-19 outbreak disruption is weighing on the Netherlands' economy and the sovereign's fiscal position. GDP contracted 8.5% QoQ in Q2’20, after a 1.5% contraction in Q1’20. Although the economic fallout is historically very large, it is less severe than the euro zone-wide quarterly contraction of 12.1% and 3.6% in Q2’20 and Q1’20, respectively given the economy's flexibility and swift policy action. The northwestern European nation’s export of aluminium wires during 2018-19 was recorded at 106,430 tonnes and the revenue generated by the export accounted was $218.36 million. The export for 2020 is set to stand at 60,252 tonnes and the earning to remain at $116.20 million. However, when the 2020 export volume and earnings get assorted with the previous two years, it denotes 166,682...
The United States imported 312,000 tonnes of alumina in the third quarter of 2020, bringing the total imports in the first nine months of the year to 1.03 million tonnes, according to the latest US Geological Survey data. On a quarter-on-quarter, the United States alumina imports in Q3 stood lower by 49,000 tonnes or 13.57 per cent from 361,000 tonnes, following a slight hike of 4,000 tonnes Q-o-Q in Q2 2020. Brazil continued as the highest exporter of alumina to the US in Q3 2020 supplying 229,000 tonnes. In Q2, Brazil exported 197,000 tonnes, meaning the US alumina imports from Brazil in Q3 increased by 32,000 tonnes or 16.24 per cent Q-o-Q. The total alumina exports from Brazil to the US totalled 660,000 tonnes during January-September 2020. The second-largest alumina exporter to the...
According to the Shanghai Metals Market data, A00 aluminium ingot price has opened the week on Monday, December 14, with a downfall of RMB 70 per tonne to stand at RMB 16,650 per tonne, following two consecutive hikes to RMB 16,720 per tonne. The average prices are expected to range between RMB 16,630 per tonne and RMB 16,670 per tonne, with a spot contract to be traded at a premium price of RMB 30-70 per tonne. In Gongyi and Hangzhou, A00 aluminium ingot price has decreased by RMB 80 per tonne to peg at RMB 16,450 per tonne and RMB 16,650 per tonne, respectively. In Linyi, Wuxi, and Shenyang, the primary aluminium ingot price has plunged by RMB 70 per tonne, RMB 65 per tonne, and RMB 50 per tonne to come in at RMB 16,620 per tonne, RMB 16,655 per tonne, and RMB 16,660 per tonne. In...
The Government of Australia will step in as shield for Alcoa’s struggling Portland Aluminium smelter in Victoria to relieve pressure on the power grid, as reported by two ministers on December 14. The government has decided to underwrite up to A$76.8 million ($57.94 million) in revenue earned by the Alcoa Corp-owned aluminium smelter, which feeds 10% of Victoria's electricity needs, to 2025. Angus Taylor, Minister for Energy and Emissions Reduction said: "The Portland aluminium smelter provides unique and valuable energy services and emergency reserves to the grid, particularly over summer." The Victorian aluminium smelter has been accredited as a lifeline for hundreds of workers, but as a lost opportunity to move towards renewable energies. The Australian Workers' Union Victorian branch...
The LME complex declined mostly on last Friday, with aluminium pulled back 0.73 per cent. Benchmark aluminium price on the London Metal Exchange declined 0.44 per cent to US$ 2022 per tonne on Friday, December 11, 2020. Both LME aluminium cash (bid) price and LME official settlement price decreased by US$ 9 per tonne to US$ 2022 per tonne on Friday, December 11, following two consecutive hikes to US$ 2031 per tonne. 3-months bid price and 3-months offer price stood at US$ 2034.50 per tonne, down by US$ 7.50 per tonne from US$ 2042 per tonne. Dec 21 bid price and Dec 21 offer price hovered at US$ 2062.50 per tonne. The LME aluminium opening stock decreased from 1333375 tonnes to 1329600 tonnes on December 11. Live Warrants stood at 1150875 tonnes, while Cancelled Warrants at 178725 tonnes....
The Indian born British industrialist Sanjeev Gupta, whose business empire includes the Lochaber aluminium smelter in Scotland, the UK’s only aluminium smelter, said: “The post-Brexit UK should abandon the European Union’s ‘outdated’ emissions rules.” The call comes from the billionaire businessman as the British Government examines to adopt national emissions trading (ETS), which is analogous to the European Union’s ETS. However, it also accords with this weekend’s UK and France-hosted climate action summit, a forbearer to UN talks in Glasgow next year. Sanjeev Gupta, the Executive Chairman and CEO of GFG Alliance, whose Paris-based subsidiary Alvance Aluminium Group, a globally integrated aluminium business that brings together assets across the aluminium supply chain from raw materials...
The Stadler Polska plant initiated the production of very interesting multiple aluminium units for the Norwegian carrier Norske Tog. The train coaches are built jointly by plants in Minsk and Siedlce. Marta Jarosińska, the spokeswoman for Stadler Polska, said: “Black Flirty, a hybrid train for the Norwegian Railways Norske Tog. The trains are manufactured at our plant in Minsk, Belarus, and at the Stadler Polska plant in Siedlce, they are assembled and commissioned static and partially dynamic.” She adds: “The vehicles then go to the port in Świnoujście, from where they are transported by ferry to Sweden and then on rails to Norway. Test drives take place on-site before the final handover of the vehicles to the customer.” “Currently two trains are being tested. As part of the order...
Ardagh Group has acquired a new facility in Huron, Ohio, for the manufacturing of infinitely recyclable beverage cans and ends. The facility, which will start production in late 2021, will have three can production lines, together with ends capacity. Claude Marbach, CEO, Ardagh Metal – Beverage North America, said: “This project forms part of Ardagh’s $1.8 billion 2021-2024 business growth investment program and is being undertaken to meet fast-growing demand as consumers increasingly recognize the environmental and quality advantages of beverage cans.” Huron plant will manufacture beverage cans in multiple sizes for sparkling water, soft drinks, teas and alcoholic beverages. Output from the Huron plant is secured by long-term customer agreements. “Our products deliver high recycle and...
On Friday, December 11, Rusal announced that five of its aluminium smelters achieved Aluminium Stewardship Initiative (ASI) Certification. Boguchansky aluminum smelter (BoAZ), Bratsk aluminum smelter (BrAZ), Krasnoyarsk aluminum smelter (KrAZ), KUBAL (Kubikenborg aluminum AB), and Sayanogorsk aluminum smelter (SAZ) have passed the certification audit against the ASI Performance Standards and ASI Chain of Custody Standards carried out by DNV GL and therefore, included in Rusal’s current ASI certificates. So, now, a total of nine Rusal’s facilities meet the requirements of the ASI. In 2019, Rusal’s headquarters and three production sites – Boksit Timana (bauxite mining), Urals aluminium smelter (alumina refining) and Irkutsk aluminium smelter (aluminium smelting, casthouse and alloys...
ΕlvalHalcor joins 'The Most Sustainable Companies in Greece' straightway for the 4 th year in a row. The leading global industrial producer of aluminium and copper, ElvalHalcor, together with 24 other companies were evaluated, based on its performance in the 'Sustainability Performance Directory' and ranked in 'The Most Sustainable Companies in Greece' group of companies for the year 2020. On 7 th December’20, with a total of 25 companies groups up 'The Most Sustainable Companies in Greece' for 2020, had received their distinction at the annual event that is part of the 'Sustainable Greece 2020' initiative, hosted by the QualityNet Foundation. These 25 companies group have adopted a comprehensive approach towards Sustainability issues, operate as leading examples of good business practice...
The UK-based aluminium packaging recycling company Alupro has reportedly launched a digital campaign for the upcoming Christmas holiday season aiming at changing human behaviour and increasing awareness towards aluminium packaging recycling. The campaign named ‘The Santa Story’ is an animated campaign that narrates a story showcasing the different forms of aluminium packaging commonly found at home during Christmas and the various ways to prepare them for kerbside recycling. It exhibits how users can reutilise the aluminium cans, foil trays, and chocolate wrappers for making toys for future pressies. Rick Hindley, Executive Director at Alupro, commented: “During the festive season, a huge volume of used aluminium packaging is generated within the home. From mince pie cases and used...
An energy and resource recycling firm in Japan is cooperating with the multinational Japanese carmaker Toyota to trial the use of aluminium and alloys recaptured in car manufacturing as a source of hydrogen generation for fuel cell electric vehicles. Alhytec, A Toyama-based firm has bespoken a testing hydrogen generation plant in Toyama administrative region of Takaoka to use aluminium alloy chips collected from Toyota's engine and fuel cell tank manufacturing plants in Aichi area. The company focus to commercially develop a hydrogen generation unit with the usage of aluminium and alloys for marketing to industrial facilities. The reaction of aluminium and water can produce hydrogen. Aluminium hydroxide, the by-product generated from the process can also be utilised in the production of...
The economy of Finland is highly industrialized, largely free-market economy with per capita GDP almost as high as that of Austria and the Netherlands, while marginally above that of Germany and Belgium. Trade is important, with exports accounting for over one-third of GDP in recent years. However, according to a forecast, Finland's total output is expected to shrink by 4.5% in 2020. The Finnish economy was already in weak mode towards the end of 2019, and the economic crisis caused by the COVID-19 pandemic is expected to result in a sharp fall of the GDP in 2020. The Northern European nation’s export of aluminium structures in 2018-19 has been accounted for 14,131 tonnes and the revenue earnings for the export stood at $67.23 million. The export for 2020 would be standing at 8746 tonnes...
