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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The LME complex mostly advanced on Wednesday, December 9, with aluminium increased 1.85 per cent. Benchmark aluminium price on the London Metal Exchange rose by 1.21 per cent on December 9. Both LME aluminium cash (bid) price and LME official settlement price rebounded to US$ 2010 per tonne on Wednesday, December 9, following a plunge from US$ 2004 per tonne to US$ 1986 per tonne on December 8. 3-months bid price and 3-months offer price stood at US$ 2027.50 per tonne, up by US$ 20.50 per tonne from US$ 2007 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 1343950 tonnes to 1338575 tonnes on December 9. Live Warrants stood at 1144850 tonnes, while Cancelled Warrants at 193725 tonnes. LME aluminium 3-months...
Aluminium Façade Systems, specialised in manufacturing and supplying architectural façade solutions, has appointed Ivan Josipovic as a new business development manager in New South Wales. Josipovic brings with him an experience and knowledge in construction and architecture to his new role at Aluminium Façade Systems. His past projects include Picton High, 52 Reservoir Street Surry Hills, and Westfield Sports High School. As New South Wales local, Josipovic grew up in Gladesville and Parramatta, and now lives in Gladesville. Aluminium Facade Systems general manager Craig Penton said, “It’s a pleasure to welcome Ivan to our team, and I look forward to his valuable contribution in becoming a friend of the industry.”
The plan for rolling out the first batch of aluminium coaches of Indian Railways suffers delay due to the Covid-19 outbreak causing obstruct in production. The lightweight aluminium coaches will position Indian Railways with the benefit of running trains to speed up to 160 kmph, reduce energy consumption and give a more pleasant ride. The nation’s Modern Coach Factory (MCF) in Rae Bareli, Uttar Pradesh has awarded the contract for aluminium body coaches to Dawonsys, a South Korean firm, leading a new paradigm in the railway sector. The INR 128 crore contract includes Transfer of Technology (ToT) for aluminium body coaches, an elemental for Indian Railways which currently makes coaches with stainless steel. In terms of exterior, interior, safety and comfort, the upcoming aluminium coaches...
Rio Tinto on December 8 presented the “Clean Growth Forum – Toward a low-carbon future” under the UK in JAPAN campaign. The forum was held for a discussion on the global climate challenge. Representatives of the public and private sectors of the U.K. and Japan gave their insightful thought on how partnerships are critical to tackle climate change through technology, policy and materials. The Clean Growth Forum was officially supported by both the British Embassy Tokyo and the Japanese Ministry of the Environment. Xavier Chalbot, Rio Tinto’s Head of Strategy, said, “Rio Tinto recognises the unprecedented challenge that climate change represents but we believe it also presents opportunities. As producers of the materials essential to human progress, we are well positioned for the transition...
Industrial enterprises in Henan, China, are required to suspend or reduce production as some of the cities in the province like Anyang, Xinxiang, Hebi, and Jiaozuo re-launched red alerts for increasing air pollution and issued Level I emergency response on Monday, December 7. Almost all aluminium processors in Anyang, Xinxiang, Hebi, and Jiaozuo have suspended production. Also, in Gongyi and Luoyang, which are yet to raise orange warnings to red ones, large-scale processors have restricted production, while small and medium-scale processors have suspended output. This move has already attracted investors’ attention. In overnight trading on December 8, the most-active SHFE 2101 aluminium contract fell by 1.02 per cent in just eight minutes after the bell. Enterprises in Henan are...
The economy of Japan has plunged at its rapid rate on record as it battles the COVID-19 pandemic. The world’s third-largest economy saw gross domestic product fall 7.8% in April-June from the previous quarter or 27.8% on an annualised basis. However, Japan was already struggling with low economic growth before the crisis and the vital factors behind the slump was a severe decrease in domestic consumption, which accounts for more than half of Japan's economy. Exports have also fallen sharply as global trade is hit by the pandemic. The Island nation of East Asia has recorded its export of aluminium wires during 2018-19 at 6240 tonnes and the revenue generation stood at $14.20 million. The export for 2020 is expected to reach at 5410 and the earnings to stand at $12.42 million. When the...
Vedanta has cut its aluminium products price for the second time in a row. With effect from Wednesday, December 9 2020, the prices of some aluminium ingots are in the range of INR 166,000-179,000 per tonne, down by INR 1,250 per tonne from INR 167,250-180,250 per tonne on December 8. Billet price came in at INR 174,000 per tonne on December 9, registering a decrease of INR 1,250 per tonne from INR 175,250 per tonne on December 8. 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 in Bharat Aluminium Co Ltd and smelters at...
On Tuesday, December 8, Britain announced to impose retaliatory tariffs on the United States aluminium and steel imports after it separates from the European Union on January 1. It also announced to forgo the $4 billion tariff plan, which was part of a long-running trade battle over aircraft subsidies. The decision of placing tariffs on American aluminium and steel comes as Britain wants to take control over its own trade policy after it departs the European Union. On the other hand, the suspension of tariffs over aircraft trade battle is an attempt to calm trade tensions between the two countries and pave a new way for future trading relations. “Ultimately, we want to de-escalate the conflict and come to a negotiated settlement so we can deepen our trading relationship with the U.S. and...
The British firm Northern Automotive Systems Limited has confirmed the news of reduction of 130 staffs at its plant in Gilwern by the end of the year. The impact of Brexit on the firm’s operations at its only facility in the UK is forcing the organization to shrink its 280 strong workforces down to 150, as a measure of high cost-cutting. The facility produces decorative aluminium trim for the automotive industry, was positioned at risk in October, however, it is understood more than half of those took voluntary redundancy. NBHX Trim Group, which owns the company, said: “We are carrying out a restructure as we aim to become more attractive to customers and economically more stable.” A spokesman for the Gilwern site said: “In response to changing conditions and customer requirements,...
Bulgaria’s aluminium products manufacturer Alcomet has commenced operations at its new rolling mill. The new facility will increase the company’s production capacity by 85,000 tonnes per year in the medium term, Alcomet said in a stock exchange filing. Alcomet’s rolling mill covers a total area of 11,562 square metres. In the January-September 2020, the company’s output of extruded products increased to 19,240 tonnes from 17,414 tonnes a year earlier. Rolled products production dropped to 33,974 tonnes from 34,184 tonnes. The total output increased by 3.1% to 53,213 tonnes in the review period. Sales of extruded products increased to 19,878 tonnes. Rolled products sale came in at 33,931 tonnes, up 3.2% year-on-year. Total sales were 53,809 tonnes in nine months. Alcomet offers a broad...
Constellium has received ASI Performance Standard and Chain of Custody Standard Certification for its casting, rolling, finishing and recycling operations at Neuf-Brisach site in France. The plant, which has an annual capacity of 450,000 tons, produces primarily auto body sheet and canstock products. The mills provides coil and sheet products for the packaging and automotive sectors. Fiona Solomon, Chief Executive Officer at ASI said, “We warmly congratulate Constellium on their dual ASI Certifications at the Neuf-Brisach plant. This plant’s feedstocks of recycled aluminium scrap make it a key starting point for downstream customers that wish to source aluminium with a reduced CO2 footprint. The ASI Certifications provide the assurance that their customers are sourcing an aluminium...
China’s average alumina spot price has recorded a hike of RMB 7 per tonne on Wednesday, December 9, to come in at RMB 2,310, found the Shanghai Metals Market. In Henan and Shanxi, the price has grown by RMB 10 per tonne to stand at RMB 2,320 per tonne. In Guizhou and Guangxi, alumina price has dipped by RMB 5 per tonne to peg at RMB 2,270 per tonne and RMB 2,265 per tonne, respectively. In Shandong, however, the price has remained restrained at RMB 2,290 per tonne, with average prices to range between RMB 2,270 per tonne and RMB 2,310 per tonne. Imported alumina price has also recorded no change from RMB 2,310 per tonne, while Australian alumina FOB price has increased by US$ 2.5 per tonne to US$ 295 per tonne. But despite the rise in alumina spot price, A00 aluminium ingot price has...
On 8 th December’20, the new production plant for aluminium food containers and packaging products “Stobia” located on Chapais Street in Jonquière, Quebec begins its production. William Allard, the president of the new company explains that Stobia wants to find its place in the food processing, restaurant and grocery markets. The objective for the first year of activity is to manufacture 100 million containers. Stobia proffers a wide range of products that start from take-out food containers, through classic aluminium plates, to serving dishes. Allard said: “Our products have been designed taking into account the needs of the Quebec and Canadian markets. We are the only Quebec manufacturer of this type of product. In the past, the market we serve was dependent on foreign distributors who...
Benchmark aluminium price on London Metal Exchange dropped 0.9 per cent to US$ 1986 per tonne on Tuesday, 08 December 2020, from US$ 2004 per tonne on Monday. As of Tuesday December 8, LME aluminium cash (bid) price stands at US$ 1986 per tonne, LME official settlement price stands at US$ 1986 per tonne; 3-months bid price stands at US$ 2007 per tonne, 3-months offer price is US$ 2007 per tonne; Dec 21 bid price stands at US$ 2040.50 per tonne, and Dec 21 offer price stands at US$ 2040.50 per tonne. The LME aluminium opening stock stood at 1343950 tonnes. Live Warrants totalled 1153600 tonnes, and Cancelled Warrants were 190350 tonnes. LME aluminium 3-months Asian Reference Price is hovering at US$ 2008.40 per tonne. SHFE Aluminium Price Trend Benchmark aluminium price for SHFE decreased...
The United States aluminium scrap exports to Malaysia extended decline in the third month (September) of Q3 2020 to 37,600 tonnes, found the US Geological Survey data. Month-on-month, the export declined 3,700 tonnes or 8.96 per cent from 41,300 tonnes. In August, the United States aluminium scrap exports to Malaysia fell 7,600 tonnes or 15.54 per cent from 48,900 tonnes in July. On a year-on-year basis, the US aluminium scrap exports to Malaysia in September stood higher by 18.77 per cent from 30,900 tonnes. In the entire third quarter of 2020, the United States exported 127,800 tonnes of aluminium scrap to Malaysia versus 91,700 tonnes in Q2. This means the export in Q3 increased by 28.25 per cent quarter-on-quarter. In nine months of 2020, the United States aluminium scrap exports to...
China’s primary aluminium output stood at 3.16 million tonnes in November, marking a growth of 7.77% year on year, according to an SMM survey. The daily average output inched up 600 tonnes month-on-month to 105,400 tonnes in November. In January-November 2020, aluminium production climbed 4.5% year on year to 33.85 million tonnes. China’s consumption of primary aluminium was 34.83 million tonnes, up 5.81%. The operating capacity of primary aluminium was 38.79 million tonnes among 42.75 million tonnes per year of existing capacity as of early December. The operating rates across aluminium producers stood at 90.8%. Primary aluminium output in China is likely to stand at 3.27 million tonnes in December, SMM expects, while import at about 100,000 tonnes. Aluminium processors in Henan and...
As updated by Shanghai Metals Market, production of metallurgical-grade alumina in China stood at 61.54 million tonnes in the first eleven months of 2020. That was down 2.4% on a year-on-year basis. In November, alumina output, including 5.8 million tonnes of metallurgical-grade alumina, came in at 6 million tonnes. The daily output increased 0.74% month-on- month to 193,000 tonnes. This marked a growth of 6.29% on a year-on-year basis. Phase I project of Chinalco Huasheng yielded production in November, which offset the output reduction in north China in a heating season. The project has an annual capacity of 2 million tonnes in in southwest China. The operating capacity of metallurgical-grade alumina was 68.4 million tonne per year as of early December. SMM expects metallurgical-grade...
Piaggio India Pvt Ltd., the small commercial vehicle manufacturer in the Indian market, introduced a new variant of its cargo three-wheeler Ape' Xtra range with a larger deck, to provision towards the rise in demand for the last-mile supply of goods amid the COVID-19 outbreak at an initial price of INR 265,000 (approx.) Piaggio Vehicles Pvt Ltd (PVPL) said: “Piaggio's Ape'Xtra range is already available with 5 feet and 5.5 feet deck and the latest Ape' Xtra LDX + comes with 6 feet deck length.” PVPL is a wholly-owned subsidiary of the Italian Piaggio Group. Diego Graffi, Chairman and MD, Piaggio Vehicles, said: "Our new BSVI performance range has been a huge success in the market due to superior specs than competing products. Ape'' Xtra LDX +, with longer deck size, will enable our...
