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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Coca-Cola is giving consumers the chance to create personalise Christmas can in support of Crisis, the UK’s national homelessness charity. These personalised cans will feature a name and a festive image. The company will donate £2 to the charity for every can sold, donating a total of £50,000 this Christmas season. Kris Robbens, Marketing Director at Coca-Cola Great Britain, said: “Christmas is all about sharing special moments with friends and loved ones and we hope people enjoy the opportunity to create their own, personalised festive Coca-Cola zero sugar can this Christmas, whether that be for themselves or as a gift. “This year has been challenging for so many people and whilst Christmas is a moment of celebration, it’s also incredibly important to remember those that need support...
According to the US Geological Survey, the United States in September 2020 exported 22,900 tonnes to Mexico, the second-highest export destination for the United States aluminium flat rolled products. On a month-on-month basis, the export volume in September stood 1700 tonnes higher than 21,200 tonnes in August 2020. In July, the United States exported 21,800 tonnes of aluminium plates, sheets and bars to Mexico. Thus, the total exports of aluminium flat rolled products from the US to Mexico in the third quarter of 2020 amounted to 65,900 tonnes, up by 13,100 tonnes or 24.81 per cent from 52,800 tonnes in Q2 2020. On a year-on-year calculation, the United States aluminium plates, sheets and bars exports to Mexico in September 2020 stood down by 6,100 tonnes or 21 per cent from 29,000...
Vedanta has hiked its aluminium products price after cutting it for the second time in a row. With effect from Thursday, December 10 2020, the prices of some aluminium ingots are in the range of INR 167,500-180,500 per tonne. This marks an increase of INR 1,500 per tonne from INR 166,000-179,000 per tonne on December 9. Billet price has risen to stand at INR 175,500 per tonne on December 10, representing a growth of INR 1,500 per tonne from INR 174,000 per tonne on December 9. The Indian aluminium producers generally link prices of its products to the three-month futures of aluminium on London Metal Exchange. The aluminium price on LME has been increasing since October. Vedanta’s aluminium business typically accounts for one-third of the company’s consolidated sales. Vedanta has a stake...
Hydro has inked Memorandum of Understanding (MoUs) for the development of two renewable projects in Brazil. The companies target to reach an investment decision in 2021. Hydro has signed an agreement with Scatec and Equinor for 480 MW solar power plant in Brazil. This solar project will be located in Rio Grande do Norte in Brazil. “The MoU contemplates joint ownership and development of the project by the three parties and offtake of part of the power production by Hydro.” In addition to this, the company has signed a MoU with Green Investment Group (GIG), to develop a combined wind and solar project with 620 MW installed capacity. The project will be located in Piauí/Pernambuco, northeast in Brazil. These agreements are an important step for Hydro’s newly established Renewable Growth...
The average alumina spot price in China has continued to grow by RMB 4 per tonne to stand at RMB 2,318 per tonne as of December 11, marking the fourth consecutive increase, according to the Shanghai Metals Market data. In Henan and Shanxi, the alumina price has come in at RMB 2,330 per tonne growing by RMB 5 per tonne; while in Shandong, the price is hovering at RMB 2,295 per tonne, also up by RMB 5 per tonne. In Guizhou and Guangxi, however, the average alumina spot price has remained restrained at RMB 2,265 per tonne and RMB 2,260 per tonne, respectively. Imported alumina price has also remained muted at RMB 2,310 per tonne, but the Australian alumina FOB price has dipped by US$ 1 per tonne to US$ 294 per tonne. A00 aluminium ingot price has surged for the second day in a row by RMB 110...
The Norwegian aluminium company Hydro stated that it would emphasis on the production of low-carbon aluminium, as well as broaden its portfolio into recycling, renewables and batteries by 2025. Hilde Merete Aasheim, President and CEO of Hydro, said: “We have generated cash, cut costs and delivered extensive operational improvements across the company, providing a solid foundation for our growth agenda.” “Now, we’re raising the bar, setting a new ambitious improvement target for 2025, combined with a clear strategy to make Hydro a profitable and sustainable industry leader.” In the previous year, the company said it has focused on “keeping the wheels turning, maintaining a healthy and safe work environment,” while also working to position the company for the future. Hydro’s development...
Benchmark aluminium price on London Metal Exchange rose 1.04 per cent to US$ 2031 per tonne on Thursday, 10 December 2020, from US$ 2010 per tonne on Wednesday. As of Thursday December 10, LME aluminium cash (bid) price stands at US$ 2031 per tonne, LME official settlement price stands at US$ 2031 per tonne; 3-months bid price stands at US$ 2042 per tonne, 3-months offer price is US$ 2042 per tonne; Dec 21 bid price stands at US$ 2070.50per tonne, and Dec 21 offer price stands at US$ 2070.50per tonne. The LME aluminium opening stock stood at 1333375 tonnes. Live Warrants totalled 1150875 tonnes, and Cancelled Warrants were 182500 tonnes. LME aluminium 3-months Asian Reference Price is hovering at US$ 2045 per tonne. SHFE Aluminium Price Trend Benchmark aluminium price for SHFE increased...
National Aluminium Company Limited (NALCO) has reduced the prices of its aluminium product and aluminium ingot with effect from Thursday, December 10, following a hike last week on December 1. NALCO has cut its aluminium wire rod price by INR 2,600 per tonne or 1.47 per cent from INR 177,350-181,700 per tonne to INR 174,750- 179,100 per tonne as of December 10. NALCO’s aluminium billets price has also been reduced by INR 2,600 per tonne with effect from December 10 to INR 174,700- 177,350 per tonne. National Aluminium Company is now selling its aluminium ingot price at INR 171,250- 174,750 per tonne, down by the same amount as aluminium wire rod and billets. On December 1, NALCO’s aluminium ingot price stood at INR 173,850-177,350 per tonne soaring by INR 5,600 per tonne from the previous...
Hindalco Industries Limited has hiked its aluminium products price for the third time in a row. With effect from Friday, 11 December 2020, , the company’s wire rods price stands at INR 183,350 per tonne, up by INR 2,000 per tonne, from INR 181,350 tonne on December 10. Aluminium billets price has risen to stand at INR 179,350 per tonne on December 11 2020. This marks a growth of INR 2,000 per tonne from INR 177,350 per tonne on December 10. Hindalco aluminium ingots price has increased by INR 2,000 per tonne to INR 172,250 per tonne as of Friday, 11 December 2020. The Indian aluminium producers generally link prices of its products to the three-month futures of aluminium on London Metal Exchange. The aluminium prices on LME have been rising since October. Aluminium operations of the...
Maruti Suzuki Ltd., India’s largest carmaker withholding more than 50% of market share in the passenger vehicle segment, announced that from January’21 it would increase prices of its vehicles. It is forecasted that the price rise could be more this time, as the cost of raw materials has increased unusually. The Company said: "Over the past year, the cost of the company's vehicles has been impacted adversely due to increase in various input costs. Hence, it has become imperative for the company to pass on some impact of the above additional cost to customers through a price increase in January 2021." The hike in price will stretch across models, starting from Maruti’s fleet of entry-level small car Alto and goes up to premium multi-purpose vehicle XL6. The prices of raw materials prices...
Shanghai Metals Market data shows the stocks of 6063 aluminium billets have plunged by 2,400 tonnes this week, ending on Thursday, December 10. The inventories have shrunk across China's five major consumption areas to stand at 70,300 tonnes. Last week, December 3, 6063 aluminium billets inventories built up 3,700 tonnes week-on-week to come in at 72,700 tonnes. The chart below indicates the current status of aluminium billets inventories across China in more details: Aluminium billets inventories in Wuxi have seen the highest decline of 5,800 tonnes to stand at 17,000 tonnes, as of December 10, while that in Huzhou and Nanchang have plunged by 2,000 tonnes to come in at 11,000 tonnes and 12,000 tonnes, respectively. In Changzhou, the inventories have slipped relatively slower by 400...
According to the Shanghai Metals Market, social inventories of primary aluminium in China have shrunk by 4,000 tonnes on Thursday, December 10, following a hike by the same amount last week. SMM data shows the inventories have dropped across eight major consumption areas, including SHFE warrants, to come in at 596,000 tonnes in comparison with 60,000 tonnes on December 3. The chart below indicates the current status of primary aluminium inventories across China in more details: The decline in primary aluminium inventories today, however, have not touched upon all the major Chinese cities except for Nanhai and Shanghai. While in the former, the inventories have decreased by 11,000 tonnes to stand at 141,000 tonnes, in the latter, the inventories have plunged by 2,000 tonnes to come in at...
Aluminium Stewardship Initiative has certified Alcoa’s three facilities in San Ciprián (Spain), Fjardaál (Iceland), and Lista (Norway) with its Performance Standard Certification. The facilities' activities include alumina refining, aluminium smelting, producing aluminium sows, ingots, and T-bars, manufacturing aluminium rod, and developing and producing aluminium extrusion ingots, foundry metal, and anode briquette. The facilities have grabbed the certificate for responsible production, sourcing and stewardship of aluminium. In July 2019, ASI Performance Standard Certification was given to Alcoa’s San Ciprián facility for its aluminium smelting operations and now it has been extended to its alumina refining activities. Alcoa’s Fjardaál aluminium smelter and casthouse, on the other hand,...
The economy of Ecuador has been one of the most stable in Latin America. Ecuador has enjoyed a healthy economy supported by the dollarization regime, as the country uses the US dollar for its currency and high oil prices. Ecuador was the first country in Latin America to experience a significant outbreak during the global Covid-19 pandemic. After growing by only 0.1% in 2019, Ecuador's GDP is expected to contract by 8.7% in 2020. The South American nation’s import of Aluminium foil in 2018-19 was recorded at 4554 tonnes and the expenditure occurred for the import was accounted at $24.76 million. The import for 2020 is set to remain at 1740 tonnes and the expenditures to stand at $18.30 million. However, when the import volume and expenditure of 2020 gets added with the existing two years,...
Hindalco Industries Limited extended its aluminium ingot and aluminium product price cut on Wednesday, December 9, despite a hike in global aluminium benchmark price on the London Metal Exchange. Hindalco’s aluminium ingot price has been reduced by INR 1,500 per tonne to INR 168,750 per tonne, compared with the cut of INR 2,750 per tonne to INR 170,250 per tonne on December 8. This shows Hindalco’s aluminium ingot price was reduced slower by INR 1,250 per tonne on December 9. Hindalco’s aluminium wire rod price, as of December 9, came in at INR 179,850 per tonne, down by INR 1,500 per tonne from INR 181,350 per tonne on December 8. The company’s aluminium billets price has also been cut by INR 1,500 per tonne from INR 181,350 per tonne to INR 175,850 per tonne. The three-month futures of...
The average alumina spot price in China has extended growth for the third consecutive day by RMB 4 per tonne to RMB 2,314 per tonne, as of Thursday, December 10, according to the Shanghai Metals Market. In Henan and Shanxi, the alumina price has come in at RMB 2,325 per tonne growing by RMB 5 per tonne from the previous day, while in Guizhou and Guangxi, the price has dipped by RMB 5 per tonne to RMB 2,265 per tonne and RMB 2,260 per tonne, respectively. In Shandong, however, the price has remained muted at RMB 2,290 per tonne. Both imported alumina price and Australian alumina FOB price have recorded no change from RMB 2,310 per tonne and US$ 295 per tonne, respectively, on December 10. A00 aluminium ingot price has surged today by RMB 200 per tonne to stand at RMB 16,610 per tonne,...
Canyon Resources Limited has announced the re-organization of its Board, which intends to drive the next stage of growth and welcomes mining professional Mr Cliff Lawrenson as Non-Executive Chairman. Mr Cliff Lawrenson said: “I am very pleased to be joining the Canyon Resources Board at this stage of the Minim Martap Project development. The very high quality, low contaminant bauxite at Minim Martap will stand the test of time as aluminium becomes a critical material in the evolution to electric vehicles and lighter, more energy-efficient construction materials. I am impressed with the recent addition of Peter Su and his interests and having experienced mining professional David Netherway remain on the board. I am looking forward to working with the team as we take this exciting project...
The Marseille commercial court was due on 8 th December’20 to examine the two takeover bids submitted for the speciality alumina unit at Gardanne in Southern France. But one of the two bidders withdrew. The inter-union hopes to reduce the social impact of the remaining offer carried by United Mining Supply, an integrated logistics group specializing in industrial and mining activities. There were two offers for the takeover of the Alteo Alumina in Gardanne. One, initiated by Xavier Perrier and Alain de Krassny (Kem One), aimed to preserve the integrity of the speciality alumina production plant, with bauxite extraction using the Bayer process. The other, defended by the United Mining Supply (UMS) group, favoured the abandonment of this extraction to perpetuate downstream. However, the...
